Fannie Mae and Freddie Mac need to be placed under strong regulatory controls and their huge mortgage portfolios need to be capped, according to Ben Bernanke, who is expected to be the next Federal Reserve Board chairman."Capping the size of the GSE portfolios, which beyond a certain size do not contribute to the GSEs' housing mission, is also important for controlling potential systemic risk," the Fed nominee said in a written response to Sen. Jim Bunning, R-Kentucky. Fannie and Freddie's portfolios have combined assets of $1.4 trillion.
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The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
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Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
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New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.
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