Mortgage Daily, Aug. 31, 2017–Sam GarciaInterest rates on single-family loans this past week fell to the lowest level since last year, and the next report could see a similar decline.
Category: Top National News
Senior Federal Home Loan Bank Execs Indicted
Mortgage Daily, Aug. 31, 2017Senior executives of the Federal Home Loan Bank of Dallas have been indicted for using funds from the organization to pay for personal expenses.
MBA: The Cost to Produce a Mortgage Falls Closer to Historic Lows
HousingWire, Aug. 31, 2017–Brena SwansonBusiness started to pick up moving into the busy spring home buying season, the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance report found.
July Housing Market Recap: Home Sales Hit 2017 Lows on Lack of Inventory, Affordability Woes
GoRion, Aug. 30, 2017–Sam BourgiThe rush to buy property will likely accelerate in coming months as more Americans look to take advantage of favorable mortgage rates.
U.S. Purchase Mortgage Activity Hits Six-Month Low–MBA
Reuters, Aug. 30, 2017U.S. mortgage applications to buy a home fell last week to the their lowest level in more than six months, even as some home borrowing costs fell to their lowest since November, the Mortgage Bankers Association said on Wednesday.
Harvey Hits Mortgages as Flood-Stricken Homeowners Are Unlikely to Pay
CNBC, Aug. 30, 2017–Diana Olick (MBA mention)Fannie Mae, Freddie Mac and the FHA announced they will offer forbearance for at least 90 days to borrowers in the Houston area. The Mortgage Bankers Association is putting out fact sheets for borrowers, sending loan data to the Trump administration and launching a Harvey web page.
Billions in Commercial Mortgage-Backed Securities at Risk Due to Harvey
Barron’s, Aug. 30, 2017–Amey StoneMajor flooding in Texas is putting at risk about $19.4 billion in properties financed by commercial mortgage-backed securities, according to Morningstar Credit Ratings.
Why Millennials are Less Creditworthy Now than Gen Xers were in 2001
National Mortgage News, Aug. 30, 2017–Elina Tarkazikis (subscription)Millennial credit scores are lower than when Generation X consumers were coming of age, reflecting changes in credit consumption and other consumer behaviors.
What Do HUD’s Reverse Mortgage Changes Mean for FHA Mortgage Insurance Premiums?
HousingWire, Aug. 30, 2017–Brena SwansonMortgage insurance premium cuts and HECM both impact the FHA’s flagship fund, the Mutual Mortgage Insurance Fund. The fund insures mortgages made by the FHA on single-family homes and pays the lender if the borrower defaults.
Harvey Could Reshape How and Where Americans Build Homes
Bloomberg, Aug. 30, 2017–Christopher FlavelleHurricane Harvey has highlighted a climate debate that had mostly stayed out of public view — a debate that’s separate from the battle over greenhouse gas emissions, but more consequential to the lives of many Americans. At the core of that fight is whether the U.S. should respond to the growing threat of extreme weather by changing how and, even where, homes are built.