In an exclusive podcast appearance, Michael Shemi, Principal Advisor for the Federal Housing Finance Agency’s (FHFA) Division of Housing and Mission Goals, shared his insight and expertise on the current state of the housing market with Editor in Chief Sarah Wheel.
Shemi noted a brisk recovery in the housing market, commenting on how low mortgage rates, an accelerating economy, and shifts in consumer preferences are reshaping the market. He also discussed the effect that the CARES Act loan forbearance had on mortgage servicers, as well as the need to modernize credit scoring models to ensure that borrowers can access mortgage capital.
The most important aspects of the interview are summarized in the following bullet points:
• The US housing market is undergoing a brisk recovery, in part due to low mortgage rates, an accelerating economy, and shifts in consumer preferences
• Loan forbearance, an initiative of the CARES Act, has put a strain on mortgage servicers
• Modernizing credit scoring models is necessary to ensure that all US borrowers have access to capital
• The US housing market is very dynamic, presenting both opportunities and challenges for servicers, lenders, and investors
You can read this full article at: https://www.housingwire.com/articles/exclusive-fhfa-interview-about-llpa-changes/(subscription required)
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