Some European market participants have been eyeing the U.S. government-sponsored enterprise model's applicability to their own market, but much of Western Europe "doesn't see a strong interest" in creating a Fannie Mae/Freddie Mac equivalent, according to a German mortgage banking executive."The situation in Europe is completely different" from that in the United States, Louis Hagen, general manager of the Association of German Mortgage Bankers (Verband Deutscher Hypothekenbanken), told MortgageWire. Therefore, he says the GSE model may not be entirely applicable, although he acknowledges that it has some strengths in terms of integrating mortgage markets. Mr. Hagen, who was in the United States recently for a conference on Germany's pfandbriefe bonds, said he considers the GSEs competitors in at least one respect. "We see the GSEs and the pfandbriefe competing for the same investment group," he said.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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