Solving the Retirement Funding Crisis

Addressing the White House Conference on Aging this week, President Barack Obama outlined his top priorities for enhancing retirement security for aging Americans, which includes modernizing Social Security, reducing conflicts of interest in the retirement investment marketplace and incentivizing states to establish work retirement plans. Every day 10,000 baby boomers turn 65 or 250,000 every … more Solving the Retirement Funding Crisis

HREMIC Issuance 2015 First Half – Nomura Eclipses BAML for #1

HREMIC issuance for the first six months of 2015 was $4.27 billion, or 85% of 2014’s full year $5.05 billion. There were 15 transactions underwritten by three sponsors, Nomura, Bank of America Merrill Lynch, and Credit Suisse. Nomura captured the #1 slot for the first half, ending Bank of America Merrill Lynch’s nearly 6-year reign … more HREMIC Issuance 2015 First Half – Nomura Eclipses BAML for #1

Historic Marriage Ruling

In a televised interview last weekend, Housing Secretary Julian Castro said same-sex couples who live in states that previously did not recognize gay marriage can now take advantage of FHA’s non-borrowing spouse protections as a result of the Supreme Court’s ruling. According to Secretary Castro, FHA’s new policies that allow eligible non-borrowing spouses to remain … more Historic Marriage Ruling

FHA Unveils Loan “Defect Taxonomy”

As part of its ongoing efforts to improve loan quality and expand access to credit, the Federal Housing Administration published the Single Family Loan Quality Assessment Methodology or “Defect Taxonomy,” which categorizes loan defects found in single family loans, including HECMs. FHA uses 99 different codes to describe defects in loans, but the taxonomy, once … more FHA Unveils Loan “Defect Taxonomy”

Senate Committee Passes THUD Appropriations Bill

The Senate Appropriations Committee passed the fiscal year 2016 Transportation, Housing and Urban Development, and Related Agencies (THUD) appropriations bill yesterday that includes $37.56 billion for HUD programs. The measure provides $47 million for housing counseling, the same amount approved in the THUD appropriations bill approved by the House of Representatives last month. Funding levels … more Senate Committee Passes THUD Appropriations Bill