September 2016 - Women in Housing

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64 | TH E M R EP O RT "Housing in general needs to be a topic both candidates give higher priority to." BRIAN MONTGOMERY, Vice Chair of the Collingwood Group, on the lack of attention given to housing by presidential candidates Donald Trump and Hillary Clinton. "A stress test for an entity that is not allowed to retain capital is an exercise in stupidity." TIM PAGLIARA, Founder of InvestorsUnite, on the FHFA's report which found that under the Dodd-Frank Stress Test, Fannie Mae and Freddie Mac—which are required by law to reduce their capital buffer to zero by January 1, 2018—could need up to a $126 billion bailout. ". . .a critical step to protect the public interest." Sixty-five House Democrats, led by MAXINE WATERS (D-California), Ranking Member on the House Financial Services Committee, on the CFPB's proposal to ban the use of mandatory arbitration clauses in business contracts and allow consumers to file class action lawsuits against businesses they believe have harmed them financially. ". . .this is the sad, sorry state of today's FHA." House Financial Services Committee chairman JEB HENSARLING (R-TX) , on the findings of the HUD Inspector General that a funding arrangement for down payment assistance to FHA borrowers is in violation of the National Housing Act regarding prohibited sources for down payment assistance. "With the possible exception of Gen X, people are ignoring the conventional wisdom." Freddie Mac Chief Economist SEAN BECKETTI, on the recent tendencies of different age groups in the housing market. Freddie Mac's analysis found that millennials take longer to marry, start families, and buy their first homes, while the 55+ population is working longer, aging in place, and sometimes even buying an additional home instead of winding down. Final Thoughts From a watchdog's report that found trouble with the FHA's down payment program to the presidential candidates and their reluctance to address housing, take a look at the most notable and most talked-about comments heard around the industry this month.

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