Mortgage Industry News
Number of Loans in Forbearance Up in August
The share of Fannie Mae and Freddie Mac loans in forbearance increased 1 basis point to 0.13% in August. Continue Reading Number of Loans in Forbearance Up in August
DOJ Announces $2.4 Million HECM Settlement with Nutter
The company exited the mortgage business in 2022. Continue Reading DOJ Announces $2.4 Million HECM Settlement with Nutter
CBC Mortgage Agency Introduces Temporary Rate Buydowns
The new feature functions as either a 2-1 buydown or a 1-0 buydown, lowering the interest in the first years of homeownership. Continue Reading CBC Mortgage Agency Introduces Temporary Rate Buydowns
Freddie Mac Standardizes Down Payment Assistance Documents
Freddie Mac plans to have the standardized lien documents available for at 19 nineteen states by the end of the year. Continue Reading Freddie Mac Standardizes Down Payment Assistance Documents
Hits and Misses of the Real Estate Week Nov. 27-Dec. 1
This week’s Hits and Misses include a Taylor Swift-inspired auction, two major cities winning global events and people who want the housing market to crash. Continue Reading Hits and Misses of the Real Estate Week Nov. 27-Dec. 1
How appraisers value homes in a hot housing market
Source: Housing Wire --- Robin Sheridan, a real-estate broker with Compass Washington, recently listed a three-bedroom home in Seattle for $795,000. The 76-year-old brick home had what Sheridan considered a “funky layout,” with two rooms added to the back that didn’t...
Volume-hungry mortgage lenders loosen credit standards
Source: Housing Wire --- Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which...
Experts Say Home Prices Will Continue to Appreciate
Source: Keeping Current Matters --- It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the...
Zillow Looks Ready to Dominate the Online Real Estate Market
Source: Barron's --- Zillow’s first-quarter results came in strongly ahead of estimates, as Premier Agent revenue growth accelerated again, amid continued housing-market tailwinds. The Homes segment also experienced strong growth and delivered another quarter of...
How hard is it to buy a home right now? “Beyond crazy and frustrating.”
Source: CBS News --- The pandemic-era real estate market has emerged as a windfall for sellers and a headache for buyers. A shortage of for-sale homes continues to boost prices across the nation by double-digits — and is pushing house hunters to go to extremes to win...
Mortgage rates remain under 3 percent for third week in a row
Source:The Washington Post --- At the start of the year, it looked like mortgage rates were headed nowhere but up. But lately, they have backslid. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 2.96 percent...
Desperate buyers are going to extremes to land a home
Source: CNN --- With the inventory of homes for sale historically low and prices higher than ever, the battle to buy a home has been taken to a whole new level. The number of available homes to buy in April dropped by 40% from a year ago and 50% from 2019, according...
What Is a Wraparound Loan, and Is It Right for You?
Source: Realtor . Com --- While home buyers might hope that they will qualify for a mortgage from the usual financial institutions, like a bank, they may find that their spotty credit score is an obstacle that prevents them from qualifying. What then? One Plan B may...
FHFA finalizes rule on living wills for Fannie and Freddie
Source: Housing Wire --- The Federal Housing Finance Agency (FHFA) finalized a rule on Monday that will require Fannie Mae and Freddie Mac to develop plans that would ensure upon their eventual exit from conservatorship, they won’t do any large scale harm to the...
Lenders, economists question first-time homebuyer bills
Source: Housing Wire --- While the first-time homebuyers welcomed news of a down payment assistance grant or tax credit, the mortgage industry and housing experts expressed deep skepticism. Two proposals under consideration in Congress aim to give first-time...
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