HousingWire, Oct. 31, 2017–Kelsey RamirezThe GSE revealed it intends to continue expanding its pilot program before making it available to all of its customers in 2018. “We identified lenders that met our pilot criteria and were willing to participate and we will continue to add more lenders as we scale the program,” Fannie Mae said.
Category: Top National News
U.S. Household Formation Weakens to Slowest Pace in Seven Years
Bloomberg, Oct. 31, 2017–Matthew BoeslerOccupied housing units in the U.S., a measure used to track household formation, rose by just 0.3 percent in the year through September, marking the slowest rate of growth since 2010.
Business Edges Up Again at Fannie, SF Lates Rise
Mortgage Daily, Oct. 31, 2017New business was up for the second consecutive month at Fannie Mae, though just slightly. Residential loan delinquency turned up 2 basis points from a nearly decade low.
Job Growth Slows Where Housing Costs a Lot
Bloomberg, Oct. 31, 2017–Justin FoxIt’s hard to work where you can’t afford to live.
Guild’s Servicing Grows, YTD Lending Record
Mortgage Daily, Oct. 31, 2017Guild Mortgage Co. reported an expanded servicing portfolio and record year-to-date originations in the third quarter.
Republicans Delay Releasing Tax Bill, Signaling Trouble for Party
New York Times, Oct. 31, 2017–Jim Tankersley, Thomas Kaplan, Alan Rappeport”We’re trying to see, and evaluate with a calculator at the end of the day, are the incentives going to be right to help the economy to grow?” said David Stevens, president of the Mortgage Bankers Association, whose industry has much at stake in the rewrite of the tax code.
Will Hensarling’s Next Job Be in the Trump Administration?
National Mortgage News, Oct. 31, 2017–Ian McKendry (subscription)In a somewhat surprising decision, House Financial Services Committee Chairman Jeb Hensarling announced his retirement from Congress on Tuesday, but speculation immediately grew that he could fill a regulatory post in the Trump administration.
Here’s What Mortgage Lenders Should Takeaway from Rising Home Prices
HousingWire, Oct. 31, 2017–Brena SwansonWith rising home prices seemingly on a never-ending trajectory, lenders are left to adjust how they do business to ensure they stay competitive and profitable.
U.S. Homeownership Rate Rises for the Second Time This Year
Bloomberg, Oct. 31, 2017–Prashant GopalThe share of Americans who own their homes was 63.9 percent in the third quarter, according to a Census Bureau report Tuesday. It was up from 63.7 percent in the previous three months and 63.5 percent a year earlier.
Rent Growth Slows Down in the SFR Sector
National Real Estate Investor, Oct. 30, 2017–Bendix AndersonWhile owners of single-family rental properties are still raising rents, they are not doing so as quickly as they had over the last few years.