As president of the secondary marketing agency, Tozer has helped the mortgage market to continue functioning and keep up with changes following the financial crisis. The incoming Trump administration has not yet picked a successor. more »
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In a candid, in-depth exit interview, Ted Tozer discusses Ginnie Mae's growth during his seven years at the agency's helm, the need for comprehensive housing finance reform, big banks' retreat from mortgages, counterparty risk management and more.
Rising interest rates typically cause lenders to relax underwriting guidelines. The incoming administration promises to deregulate. Sounds like a combustible mix, but there's ample room to loosen credit without returning to the practices that caused the crisis.
Fannie Mae is readying its first credit risk transfer transaction of 2017.
Steven Mnuchin's time as OneWest CEO is expected to draw ample attention at his nomination hearing, but it will not be the only issue to come up as senators try to gauge how he would lead President-elect Trump's financial policies.
The Federal Housing Administration program could see a $50 billion increase in single-family loan endorsements this year if a planned 25-basis-point annual premium cut goes into effect on Jan. 27.
JPMorgan Chase's net mortgage banking revenue for the fourth quarter was $1.69 billion, an increase of just 1% over the same period in 2015.
The Seattle company warned that fourth-quarter profit could fall more than 80% from a year earlier.
Banks have started reconsidering how much they are willing to pay for low-income housing tax credits as expectations of a Trump tax cut surge, slowing down some projects already and threatening developers with heavier financing burdens.
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