Mortgage Roundup (12/7/20) – FHFA, Evictions & Debt

Good morning! Today is Monday, December 7. Federal officials said a Covid-19 vaccine could be distributed to as many as 24 million people by mid-January. Rudy Giuliani tweeted that he is getting great care and feeling good, after being admitted to Georgetown University Hospital for Covid-19. A snowy Nor’easter knocked out power in Maine and New Hampshire. A California man punched a 350-pound bear to save his dog. 

And in mortgage and housing news …

NOT SO FAST: Rep. Maxine Waters, the chairwoman of the House Financial Services Committee sent FHFA Director Mark Calabria a letter last week urging him to “fully engage with Congress, halt all efforts to raise the capital requirements for Fannie Mae and Freddie Mac and halt all efforts to release them from conservatorship.”

MARZOL RETIRES: After 20 months on the job, Federal Housing Finance Agency Principal Deputy Director Adolfo Marzol will retire this month.

EVICTIONS: The housing market is booming, but millions of Americans face evictions – and the gap between wealth and poor is getting worse. 

COMMERCIAL MORTGAGES: Fannie Mae and Freddie Mac will begin requiring higher percentage of loan volume classified as affordable housing.

LENDING RECORDS: The Federal Reserve has handed U.S. mortgage lenders their best year ever.

INCOME TO DEBT: Americans spend a surprisingly small chunk of their total income on debt, according to new research by The Ascent.

LANDLORD BOOM: Record low mortgage rates are driving a surge in new landlords

CASH OUT REFINANCING: In November cash-out refinances were up by 58 percent from six months earlier at, an online mortgage lending company.

EXURBAN LOANS: Mortgage loans for exurban buyers is a growing business. 

REFINANCE TIPS: Despite low mortgage interest rates, homeowners should research the caveats before refinancing.

NEW BROKER-OWNERS: Check out these tips and tools for new broker-owners who are carving their path as business leaders.