Cogent Road launches AVAIL with select lenders – NMP Skip to main content

Cogent Road launches AVAIL with select lenders

National Mortgage Professional
May 13, 2008

NAHB applauds Fannie Mae housing recovery initiativesMortgagePress.comNAHB, home builders, Fannie Mae, Keys to Recovery Initiatives, OFHEO The National Association of Home Builders (NAHB) has expressed its support for steps recently announced by Fannie Mae to address severe problems in the nation's housing finance system. "Fannie Mae is demonstrating the leadership expected of a government-sponsored enterprise with the rollout of its Keys to Recovery Initiatives and commitment to raise additional capital to support those and other responses to mortgage market challenges," said NAHB President Sandy Dunn, a home builder from Point Pleasant, W.Va. The Keys to Recovery Initiatives are a series of new programs designed to increase liquidity and stability in the mortgage and housing markets. Fannie Mae's decision to utilize the temporary increase in conforming loan limits to purchase jumbo-conforming mortgages under the same pricing structure accorded portfolio purchases of regular conforming loans will help home buyers in high-priced markets. "The jumbo mortgage market is dysfunctional and in great need of active GSE involvement. Fannie Mae's portfolio purchases will help narrow spreads from the recent record highs, making home purchases more affordable in high-priced metro markets," said Jerry Howard, NAHBs executive vice president and CEO. NAHB also welcomed the other elements of Fannie Mae's Housing Recovery Initiatives, particularly the refinancing program for borrowers whose mortgage amount exceeds the current value of their home and the plan to purchase more loans from state housing finance agencies. In addition, NAHB strongly endorsed Fannie Mae's commitment to raise additional capital, which was announced in a May 6 statement from the Office of Federal Housing Enterprise Oversight (OFHEO), Fannie Mae's regulator. "Obtaining fresh capital is a critical step in moving the Housing Recovery Initiatives and other mission efforts from the drawing board to the housing market. NAHB looks forward to seeing these programs translate into results for the nations hard-pressed home buyers and renters," said Dunn. For more information, visit www.nahb.org.
Published
May 13, 2008
More from
Tech
FirstClose Receives $35M Investment From Lateral

Fintech says it will use the investment to expand its growing financial services footprint.

Industry News
May 18, 2022
Zillow Group Bids Fond Farewell To iBuying

Reports solid 1Q 2022 earnings in part from selling off all but 100 homes left from Zillow Offers unit.

Industry News
May 05, 2022
Offerpad Earnings Continue To Set Records

Digital home buyer and seller reported revenue soared 384% in 1Q 2022 as it sold a record number of houses.

Industry News
May 04, 2022
Xactus Appoints New Chief Financial Officer

Paul Ryan has over two decades of experience in financial roles

Tech
Apr 20, 2022
Sun West Introduces The Processor

Company says computer program can cut loan processing time to less than an hour.

Tech
Apr 05, 2022
MoCaFi, FinLocker, TransUnion partner to bridge homeownership gap

The three companies are hoping to help Black households improve their credit eligibility

Industry News
Apr 05, 2022