A potential housing finance reform proposal has been announced by Senate Banking Committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho. The bi-patrician committee have been negotiating and drafting the legislation for several months. The Freddie Mac and Fannie May ... » Learn More about Bi-Partician Reform of Freddie and Fannie – But Does it Need to Be?
FHA Quality-Assurance Plan Assures Fewer Loans Get Made: Lenders
The increased scrutiny, mortgage bankers complain, would finish recent attempts to provide home loans to borrowers with marginal credit, something the FHA has been striving to spur for years. Those with FICO scores below 640 would be especially hard hit, industry executives state. "FHA says they ... » Learn More about FHA Quality-Assurance Plan Assures Fewer Loans Get Made: Lenders
Mortgage Originations Lowest Since November 2008, Cash Purchases Up, Fewer Loans HARP Eligible
* Loan originations declined to the lowest point since Nov. 2008 (down 60% Y/Y) * Property sales remained relatively strong (total year 2013 was up 8.4% from 2012), supported by increased cash purchases (which accounted for more than 40% of Q4 sales) * HARP origination volume has declined ... » Learn More about Mortgage Originations Lowest Since November 2008, Cash Purchases Up, Fewer Loans HARP Eligible
QM Could Touch Many Borrowers
The Qualified Mortgage (QM) rule was implemented in January of 2014. It is the one of several rules originated from the Dodd-- Frank Wall Street Reform and Consumer Protection Act that will impact the housing market. This law is intended to protect consumers by boosting underwriting standards, but ... » Learn More about QM Could Touch Many Borrowers
Foreclosures Falling, Home Price Growth Leveling-Off
A decrease in foreclosures has been a continuing all over the country, as the real estate market gradually recovers from one of the worst housing crises ever. The January Property Intelligence Report from DataQuick reveals that 31 of the 42 counties evaluated had fewer foreclosures compared with ... » Learn More about Foreclosures Falling, Home Price Growth Leveling-Off