Economy

Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.3% next year, up from nearly 3% this year.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

There have been several extensions of the policy since it was put into place as a way to sustain originations amid a wave of forbearance allocated to borrowers with government-related loans.

The substantial Series D fundraise fuels speculation on whether Better.com will be the next mortgage company to hop on the IPO trend.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.

The draft IPO filing for its Class A shares follows speculation that it would follow the lead of Rocket Cos. and other nonbank lenders in going public.

If enacted, the rule will bring the agency into compliance with the GSEs and the Biggert-Waters Flood Insurance Reform Act.

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

Plans for a first-time homebuyer tax credit and expanded affordable housing opportunities may be attractive to lenders, but they’re wary of increased regulation.