Forbes, Sept. 21, 2020–John WakeHome prices are skyrocketing in most U.S. markets despite COVID- 19, a recession and a shockingly high unemployment rate.https://www.forbes.com/sites/johnwake/2020/09/21/whats-causing-home-prices-to-skyrocket—low-rates-or-wanting-more-space/#76074bc923ff
Category: Top National News
As Housing Rebounds, Non-QM Mortgages for Business Owners Make a Comeback
Bankrate.com, Sept. 22, 2020–Jeff OstrowskiDuring the early days of the coronavirus recession, the market for non-qualified mortgages ground to a halt. In recent months, however, non-QM loans have returned as …
Rising Student Loan Debt Could Impact Future Millennial Homeownership
HousingWire, Sept. 21, 2020A report from the Mortgage Bankers Association’s Research Institute for Housing America that indicates in the second quarter of 2020, close to 11 million households fell behind …
The 2020 Refi Wave: Where Activity is Strongest, Where It’s Not and What’s Ahead
HousingWire, Sept. 21, 2020–Mike FratantoniMBA Chief Economist says MBA expects a near 17-year high for refis in 2020, but the market may be cresting.https://www.housingwire.com/articles/pulse-the-2020-refi-wave-where-activity-is-strongest-where-its-not-and-whats-ahead/
Fed Plan to Reform CRA at Odds with OCC Rule
American Banker, Sept. 21, 2020–Hannah Lang (subscription)The central bank’s proposal to overhaul the Community Reinvestment Act differs markedly from the OCC’s regulation in testing, data collection and other areas.https://www.americanbanker.com/news/fed-plan-to-reform-cra-at-odds-with-occ-rule
Americans Want Homes, but There Have Rarely Been Fewer for Sale
Wall Street Journal, Sept. 21, 2020–Nicole Friedman (subscription)Buyers are accelerating purchase plans or considering homeownership for the first time, rushing to get more living space as many Americans anticipate working …
The COVID-19 Lockdown is Squeezing Real Estate from All Sides…
MarketWatch, Sept. 21, 2020–Keith JurowOver the past few months the number of borrowers with active forbearances has declined. But that’s no reason for optimism. The more serious matter is how …
Ginnie Mae to Bar Libor-Based Loans from Pools
National Mortgage News, Sept. 21, 2020–Bonnie Sinnock (subscription)Government mortgage-bond insurer Ginnie Mae will restrict the pooling of certain adjustable-rate mortgages ahead of plans to phase out Libor at the end …
Housing Resilience Masks Underlying Weaknesses
Credit Union Times, Sept. 21, 2020–Jim DuPlessisSome economists this month have been warning that recent improvements in the economy, including job gains and an exuberant housing market, are masking some …
Weak Contract Language Could Lead to Post-Libor ARM Securities Losses
National Mortgage News, Sept. 18, 2020–Brad Finkelstein (subscription)Bondholders could see principal losses if, due to the way the documents are worded, the rate is frozen at the last published amount.https://www.nationalmortgagenews.com/news/weak-contract-language-could-lead-to-post-libor-arm-securities-losses