Mortgage Daily, Jan. 9, 2018After easing to the loosest levels since the financial crisis, credit conditions in real estate finance contracted to the tightest level in five months, the Mortgage Bankers Association reported.
Category: Top National News
Realtors, Licking Their Wounds, Get Ready for Their Next Battle
Wall Street Journal, Jan. 9, 2018–Laura Kusisto (subscription)The National Association of Realtors, one of the largest and wealthiest lobby groups in the U.S., emerged from the recent tax overhaul hobbled and humbled. Now, the coming debate over the government’s role in backing mortgages for most Americans will test whether it can regain some of its clout in Washington politics.
Rising Equity Helps Appraisers, Homeowners Agree More on Price
National Mortgage News, Jan. 9, 2018–Bonnie Sinnock (subscription)Increased equity levels are resulting in higher appraisals that are closer to owners’ view of home prices now than they have been since March 2015, according to Quicken Loans.
U.S. Job Openings, Layoffs Fall to Six-Month Lows in November
Reuters, Jan. 9, 2018–Lucia MutikaniU.S. job openings fell for a second straight month in November, with declines in the manufacturing and real estate sectors, supporting economist forecasts that job growth will slow in 2018.
Commercial Originators Expect Another Year of Growth in 2018
Mortgage Professional America, Jan. 8, 2018–Francis MonfortOriginations in the commercial and multifamily mortgage segment are expected to be strong in 2018, with some top firms looking to increase activity, according to an MBA Newslink report on the 2018 CREF Outlook Survey released by the Mortgage Bankers Association.
Experts Weigh in on What the 2018 Housing Market will Bring
Washington Post, Jan. 8, 2018–Kathy OrtonThe Mortgage Bankers Association predicts mortgage rates will become more volatile in the coming year now that the Federal Reserve is winding down its balance sheet.
Credit Score Changes in Mortgage Market Could Increase Homeownership Opportunities
Fox Business, Jan. 8, 2018–Brittany De LeaThe housing market could be on the verge of a shake-up, as well-established credit scoring requirements are being reevaluated by the Federal Housing Finance Agency, potentially opening up the mortgage market to a greater number of aspiring homeowners.
FHFA Should Resist Calls to Weaken Mortgage Standards
American Banker, Jan. 8, 2018–Joseph A. Smith Jr. (subscription)The author, former North Carolina Banking Commissioner, says the Federal Housing Finance Agency would be wise to stay with established and tested credit scoring methods, expanding them slowly and in light of market knowledge built over decades.
Are Lenders or Homebuyers Playing it Too Safe with Credit Scores?
National Mortgage News, Jan. 8, 2018–Elina Tarkazikis (subscription)The widening credit score gap between the average consumer and homebuyer reflects better consumer awareness of how credit scores work contrasted against growing uncertainty about what it takes to qualify for a mortgage that’s keeping many would-be homeowners on the sidelines.
IRS Continues Repair of Income Verification System After Mortgage Industry Panic
National Mortgage News, Jan. 8, 2018–Brian Collins (subscription)The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry.