Economy

CEO Michael Nierenberg hinted at an upcoming partnership, as the rebranded New Residential reported a quarterly loss from residential mortgages plus management internalization costs.

As the Federal Reserve implemented its second 0.75% rate hike in two months, the chair said the system is able to withstand any financial stability risks that rising rates might create. 

Dennis Hermonstyne, a legal and regulatory expert, previously held roles with E-Trade and the Federal Reserve System.

Katie Jones is the third woman added to the GSE’s chief officer ranks in the past year.

But the Mortgage Bankers Association still expects the dollar volume of purchase originations to increase from 2022 to 2024 compared with 2021.

Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.

With rising interest rates and lower affordability, the velocity of value increases is likely to decelerate further in coming months, Fannie Mae said.

While the reason behind the deficit for every city is different, it is leading to soaring prices as the country faces high interest rates and a possible recession.

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.