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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
Lending (1495)
Fannie Mae Completes $29.7B Single Family Risk Transfers
Fannie Mae completed two Credit Insurance Risk Transfer transactions for almost $30 billion. CIRT 2019-1 and CIRT 2019-2, which together cover $29.7 billion in unpaid principal balance of 21-year to 30-year original-term, fixed-rate loans, are part of Fannie Mae's ongoing effort to increase the role of private capital and reduce taxpayer risk in the mortgage… Read more...
New Data Confirm the Urgency of Addressing the Expiration of the GSE Patch
By Laurie Goodman Last year, we wrote about the need to address the expiration of the government-sponsored enterprise patch, or “GSE patch,” which currently allows higher debt-to-income ratio mortgages to qualify for the protections provided under the qualified mortgage rule. We also offered several options for addressing the January 2021 expiration of the patch. Recently,… Read more...
Housing Sentiment Surges Just in Time for Spring Homebuying Season
The Fannie Mae Home Purchase Sentiment Index jumped 5.5 points in March to 89.8, reversing last month's slight decline and reaching its highest point since June 2018. Increases in the "Good Time to Buy" and "Good Time to Sell" components drove the measure of consumer sentiment higher, with the two rising 7 and 13… Read more...
Class Valuation Acquires AMC
Class Valuation, a real estate collateral valuation and appraisal management, has acquired appraisal management company—Janus Valuation & Compliance. “For us, clients come first. Strengthening our ability to support each client is something Class values highly.” said Mike Detwiler, CEO and partner for Class. Janus has developed customized AMC service models with a focus on retail,… Read more...
Why the Yield Curve Might Have Fooled Some Experts
By Mark Flemming April Fools’ might be over, but that hasn’t dampened recession fears from generating headlines. Broadly speaking, the U.S. economy is performing well. Wages are increasing and we’re near full employment. So, why are some experts raising recession concerns? Beware the Inverted Yield Curve Late last year and again in March, the yield… Read more...
HomeStreet to Sell Up to 50 Offices, Liquidate $14.3B in MSRs
Homebridge Financial Services Inc. will acquire up to 50 of HomeStreet Bank’s satellite and fulfillment offices and can hire the employees. Homebridge has agreed to a purchase price of the net book value of the acquired assets plus a premium, as well as the assumption of certain home-loan center and fulfillment office lease obligations. In… Read more...
NewRez Deploys CRM Increases LO Application Rate by 30%
NewRez LLC a national-mortgage lender, has deployed a customer acquisition platform designed to boost its lead management process. The aim of implementing the technology was to optimize lead potential and accelerate the origination process. NewRez was formerly known as New Penn Financial. FinLeads, from the Tavant Velox suite, is a customer engagement and aggregation platform… Read more...
Analysis: Property Taxes Rose 4% in 2018
Property taxes assessed on single-family homes were $304.6 billion in 2018, an increase of 4 percent, compared with $293.4 billion in 2017. The average property taxes of $3,498 for a single-family home in 2018 was up 3 percent from the average property tax of $3,399 in 2017, and the effective property tax rate of 1.16… Read more...
North Carolina’s GOP Chairman Indicted for Bribing Insurance Commissioner
A federal criminal indictment charged four people with public corruption and bribery, for an alleged conspiracy to commit wire fraud and bribery. According to the indictment, the aim was to bombard the state’s top insurance commissioner with gifts—in exchange for preferential business treatment. North Carolina state GOP chairman Robin Hayes and Greg Lindberg, founder of… Read more...
BofA Unveils $5B Affordable Homeownership Program
Bank of America has unveiled a $5 billion affordable homeownership program for low- to moderate-income and multicultural homebuyers and communities across the country. The Bank of America Neighborhood Solutions program will help more than 20,000 borrowers and is planned for five years. It encompasses a new down payment and closing-cost assistance option, innovative low- down-payment… Read more...
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