FHFA acting Inspector General John "Joe" Allen is set to be fired, Reuters reports, and the position is now vacant as the mortgage giants move toward a public offering
Fannie Mae CEO Priscilla Almodovar was replaced on an interim basis by COO Peter Akwaboah. FHFA Director Bill Pulte fired Freddie Mac CEO Diana Reid in March after board shakeup
Equitable housing and climate change risk are out, deregulation and combating fraud are in. The strategic plan sheds little light on president's bid to spur homebuilders into action.
With listings scarce and refinancings sluggish, the strategy of partnering with homebuilders to form joint ventures like Onx X+ Mortgage is to grow loanDepot's purchase loan business
Buyers can put as little as 5% down when taking out a new construction loan, with 1 closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage
NHC Mortgage will offer home loans in Florida, Iowa and North Carolina, with plans to expand to 9 other states in 2023
LoanDepot has formed 3 joint ventures with builders in just over 4 months
Prices expected to move higher in the coming months
New homes start in the 500,000s, existing median price sits at $530,000