UWM and Pennymac are pricing jumbo mortgages of up to $819,000 as if they were conforming, ahead of an official announcement by Fannie and Freddie’s federal regulator in November. Continue reading
Lower courts have ruled Cook can continue to serve on the central bank’s board while she challenges the Trump adminstration’s move to fire her over unproven mortgage allegations. Continue reading
Trump’s move to fire Cook likely violated her right to due process, and “for cause” provision for removal is limited to governor’s behavior in office, judge rules in granting preliminary injunction. Continue reading
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers. Continue reading
Cook’s attorneys say she did not commit mortgage fraud, and is being targeted by the Trump administration to undermine the Federal Reserve’s independence. Continue reading
Hundreds of economists say Trump adminstration’s move to fire Cook “threatens the fundamental principle of central bank independence and undermines trust in one of America’s most important institutions.” Continue reading
Democratic Senators Elizabeth Warren, Chuck Schumer and Cory Booker have asked federal regluator to pause any efforts to reprivatize Fannie and Freddie and study potential impact on mortgage rates. Continue reading
Survey shows most Americans are also concerned that privatizing the mortgage giants might lead to higher mortgage rates, although Democrats and independents are more likely to be worried than Republicans. Continue reading
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers. Continue reading
If bond market investors get cold feet about buying government debt and mortgage-backed securities, that could push long-term interest rates higher, even if the Fed cuts short-term rates. Continue reading