Good morning! Today is Monday, January 25. California Gov. Newsom is expected to cancel stay-at-home orders in large parts of the Golden State to allow restaurants and gyms to reopen outdoor dining and services. The U.S. imposed a ban on travelers entering the country from South Africa in a bid to contain the spread of a new variant of Cpvod-19. The stage is being set for the 2021 Superbowl – the Tampa Bay Buccaneers will face the Kansas City Chiefs.
And in mortgage and housing news …
UWM NYSE: United Wholesale Mortgage Company’s first day on the New York Stock Exchange ended with a dip.
CRA EXPANSION: With Democrats in power, will CRA be expanded to nonbanks?
HOUSING CRISIS: President Joe Biden is no stranger to severe housing problems. When he became vice president in 2009 under the Obama administration, he inherited a massive subprime mortgage crisis that caused millions of people to lose their homes through foreclosure while trillions of dollars of equity disappeared.
HOMEOWNERSHIP: Hispanic homeownership poised to rise as other homeownership rates stall.
FANNIE MAE LIHTC: Fannie Mae announced that it had completed $1.5 billion of Low-Income Housing Tax Credit (LIHTC) investments since 2018.
WALL STREET FRETS: Wall Street frets as Elizabeth Warren ally takes consumer protection role.
HOUSING STARTS: Housing starts increased 5.8 percent to a seasonally adjusted annual rate of 1.67 million units, according to the latest report from the Commerce Department.
INTERIM CFPB POST: Acting CFPB Director David Uejio, tapped by the Biden administration, will take action quickly. “The magnitude of the challenges facing the country is simply too great to wait,” Uejio said in a memo to CFPB staff.
MBS DISCLOSURES: Beginning Feb. 22, Freddie Mac plans to publish pool-level stratification of modified and reinstated securities as part of its new issuance security supplemental file.