Economy

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

If Trump is reelected, his administration would likely move forward with privatizing Fannie Mae and Freddie Mac and relaxing key rules, while a Joe Biden presidency would likely try to expand homeownership access and borrower protections.

The transaction is the first in two years for MidCap, which provides startup and expansion financing for biosciences/healthcare and technology firms backed by VC and private equity.

The subpoenas will seek financial statements and tax returns for a number of entities, including ones that manage some of Black’s $9 billion wealth. They will also go to Apollo and entities that help manage his art collection, the New York Times said.

There were questions about the GSEs' use of structured credit risk transfers in the single-family market given an earlier pandemic-related market disruption.

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

The industry’s turmoil, including 'strategic options' being pursued by corporate debt obligors like Transocean and Seadrill, has sparked the biggest wave of restructurings since 2017, when the effects of the last oil price downturn reverberated through the industry.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

Borrowers will likely have to put more assets on the line to get forbearance extensions.

But the 30-year fixed remains below 3%, which should continue to support increased demand.