People

With state policy increasingly focused on boosting development to address the housing affordability crisis, California adopted measures Tuesday to combat discrimination in the housing market.

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

Also, Geneva Financial, Homespire boost secondary market teams and NFM Lending hires a strategy officer from Fannie Mae.

The industry veteran will be responsible for a division with a mortgage portfolio of almost $1.1 trillion in unpaid balances.

Hopes that the pandemic has been curbed have dimmed as infections and hospitalizations are on the rise again due to the introduction of the extremely dangerous Delta strain. For some companies, this has disrupted their plans to bring remote employees back to their offices or institute a "hybrid" arrangement.

Almost $35 million of the total is earmarked for compliance efforts at 93 organizations.

Also, Gateless taps former Freddie Mac executive as COO and Nations Lending and Geneva Financial expand their networks.

Despite “color blind” underwriting algorithms, loan denial rates on mortgages that were not backed by the Federal Housing Administration and the VA skewed heavily toward minority groups, according to a study by The Markup.