Mortgage Roundup (2/15/21) – Fannie, HUD & CFPB

Good morning! Today is Monday, February 15 – President’s Day. Walmart’s vaccine rollout will target small towns. A major winter storm is spreading snow and ice from the Midwest, South, and now sweeping into the Northeast. Scientists accidentally discovered new animals a half mile under Antarctica ice. 

And in mortgage and housing news …

FANNIE MAE INCOME: Fannie Mae released its 2020 financial results, reporting $11.8 billion in net income for the year and $4.6 billion in the fourth quarter. 

HUD POLICY: Opinion – A historic housing crisis has America in its grip. Can Marcia Fudge save the day?

NONQUALIFYING MORTGAGES: Good news for self-employed borrowers. Nonqualifying mortgages are staging a comeback.

REDLINING: The acting CFPB chief is signaling a tougher stance against redlining

FREDDIE MAC LEADERSHIP: Freddie Mac has created two new senior leadership roles in its single-family and multifamily business lines that are dedicated to addressing equity in housing.

EUROPEAN LENDERS: Lenders in Europe are using the pandemic to make changes investors have wanted for years: slash jobs, shut branches and force customers online.

RETIREMENT MORTGAGE: Three reasons not to pay off your mortgage before retirement

DUE DILIGENCE: Hot real-estate markets across the U.S. led to a number of buyers snapping up homes without performing due diligence. Now they regret it.

10-YEAR MORTGAGE: If you aren’t bothered by higher monthly payments, a 10-year mortgage might be a good option.

FORECLOSURE BUYS: Homes in foreclosure have gotten more expensive, but you can still get a good buy. 

CREDIT BUREAUS: President Biden wants to shut down credit bureaus. What would that mean for consumers.