(RECAP: Fannie Mae said on Monday it has launched a program to streamline its underwriting on mortgages for some borrowers that uses electronic data instead of physical proof of their income, assets and employment. The U.S. government mortgage agency said the “Day 1 Certainty” program would also offer relief from representation and warranty for the appraised value of a home and a waiver of its property inspection requirement for many mortgage refinancings. These program features will be available on Dec. 10, Fannie Mae said.)

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(RECAP: More affordable housing for millennials, first-time home buyers and empty-nesters could be in Fredericksburg’s future. The developer of The Hamptons at Noble, a 128-unit apartment complex being built behind Huber Motor Cars’ Mercedes and Volvo dealerships on Fall Hill Avenue, is seeking rezoning of an adjacent parcel to build the second phase of the project. The Hamptons Phase II would include 78 townhouses, five apartment buildings with a total of 120 units, and a high-end car dealership next to Huber’s Volvo dealership. The City Council will hold a public hearing on Norfolk-based S.L. Nusbaum Realty Co.’s request and may take action on it when it meets Tuesday in council chambers. If the rezoning is approved, Nusbaum would use a VHDA tax credit to fund the multifamily part of the project. This would allow it to build affordable housing for people in the $48,000 to $78,000 household income range.)

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(RECAP: Fed Chair Janet Yellen’s interest in running a “high-pressure economy” threatens to add to an increasingly divisive climate at the U.S. central bank. In remarks last week that jarred the market, Yellen ruminated about the benefits of letting inflation run a small hotter than normal while allowing the unemployment rate to drop below the point that historically would trigger Fed tightening action. To many observers, the comments were a clearly dovish signal that she favors a lower-for-longer approach when it comes to interest rates. But that kind of attitude could exacerbate tensions among Federal Open Market Committee members, in particular those who have been clamoring for rate hikes.)

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