The Palisades fire, stretched across an area larger than Manhattan and where the median home price approaches $4 million, has damaged or destroyed more than 5,000 structures. https://www.nationalmortgagenews.com/articles/fire-razes-la-enclave-bigger-than-manhattan
NextGenMortgage
Trump taps Treasury’s Bessent as acting CFPB director
The president has named Treasury Secretary Scott Bessent to run the Consumer Financial Protection Bureau on an acting basis after firing CFPB Director Rohit Chopra over the weekend. https://www.nationalmortgagenews.com/news/trump-taps-treasurys-bessent-as-acting-cfpb-director
Nearly half of MBS investors expect Fannie, Freddie privatized by 2028
If the GSEs are privatized with only their current capital levels, respondents indicated risk premiums on MBS would widen by as much as 45 basis points or more. https://www.nationalmortgagenews.com/articles/nearly-half-of-mbs-investors-expect-fannie-freddie-privatized-by-2028
MBA predicts profitability, but with challenges ahead
A trade group's estimates point to another quarter of profitability in housing finance, but originations have limits and loan performance is under pressure. https://www.nationalmortgagenews.com/news/mba-predicts-profitability-but-with-challenges-ahead
FHFA, Treasury amend GSE conservatorship agreements
The changes add some steps that would have to be taken before Fannie Mae and Freddie Mac could exit following statements from a Trump ally indicating plans for a near-term release. https://www.nationalmortgagenews.com/news/fhfa-treasury-amend-gse-conservatorship-agreements