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Mortgage News Daily

Calabria to Congress: If you don’t like crisis fee, then fund GSEs

WASHINGTON — Federal Housing Finance Agency Director Mark Calabria defended Fannie Mae and Freddie Mac’s controversial “adverse market” fee at a virtual hearing with House lawmakers on Wednesday. Calabria testified before the House Financial Services Committee, where members of both parties questioned the fee imposed on refinancings. The added charge is meant to help Fannie …

Mortgage News Daily

End of extra unemployment benefits could cause crisis for renters

With more than 32 million people set to lose the additional $600 per week in unemployment benefits when the Federal Pandemic Unemployment Compensation (FPUC) program expires this week, the share of renters facing a severe housing-cost burden could skyrocket – with Black households disproportionately affected. According to a new analysis by Zillow, the expanded unemployment …

Mortgage News Daily

U.K. house prices drop most since financial crisis in lockdown

Residential property prices in the U.K. fell by the most since the global financial crisis from April through June, according to mortgage provider Halifax. Values declined 0.9% compared with the first three months of the year as the country locked down due to the coronavirus pandemic. However, on a yearly basis, prices rose across Wales …

Mortgage News Daily

As mortgage woes return, lessons from last crisis come to light

As part of the multibillion-dollar settlements that the Obama-era Justice Department reached with big banks over pre-2008 mortgage fraud, the lenders were often required to give a helping hand to affected consumers. In the years since, critics have questioned how much consumer relief these settlements actually delivered, and whether the purported relief was appropriately targeted …