Builder, Feb. 28, 2017–Brian CroceWith rates at a low point for a while now, homeowners have had ample time to refinance their mortgages if they were inclined to do so. With that in mind Mike Fratantoni, chief economist for the Mortgage Bankers Association, is expecting a large decline–47%–in refinance volume this year. “For those who have focused more on the refi business, it’s going to be a tougher year,” he says.
Category: Top National News
Colorado Mortgage Risk is Rising as Home Values Spike, Report Says
Denver Post, Feb. 28, 2017–Aldo SvaldiColorado is among 11 states where home values have risen so sharply that new mortgages carry an elevated level of risk, according to a report from Fitch Ratings.
Radian: Here’s Where our Federal Mortgage Insurance Competition is Growing
HousingWire, Feb. 28, 2017–Jacob GaffneyIn a 10-K filing with the Securities and Exchange Commission yesterday, Radian reports that its federal mortgage insurance competition is growing.
Will Rising Mortgage Rates Force Loosening of Credit Standards?
National Mortgage News, Feb. 28, 2017–Brian Collins (subscription)With mortgage rates and housing prices both expected to go up this spring, lenders are facing a tough decision on how they will adjust to the decline in refinancings and overall lending volumes.
Bankers Bullish on Trump, Upbeat on Reg Relief, Poll Finds
National Mortgage News, Feb. 28, 2017–Rob Blackwell (subscription)Bankers are continuing to see President Trump as a net positive for the financial services industry, according to a new poll from SourceMedia Research.
Massive Single-Family Rental Merger: Tricon Capital to Acquire Silver Bay Realty Trust for $1.4 Billion
HousingWire, Feb. 28, 2017–Ben LaneIn a deal that will shake up the single-family rental industry, Tricon Capital Group announced this week that it plans to acquire Silver Bay Realty Trust in a $1.4 billion deal that will create one of the country’s largest operators of single-family rental homes.
U.S. Economy Slowed in Fourth Quarter Despite Robust Concumer Spending
Reuters, Feb. 28, 2017–Lucia MutikaniThe U.S. economy expanded at a slower pace in the fourth quarter, as previously reported, and appeared to remain on a moderate growth path as President Donald Trump took office with a promise to reinvigorate manufacturing and protect jobs.
2017 Home Purchase Financing Forecast Boosted
Mortgage Daily, Feb. 28, 2017Freddie Mac said U.S. mortgage bankers are expected to generate $335 billion in residential loan production during the first-three months of this year.
Appraisal Services Integrated Into LOS Systems
Mortgage Daily, Feb. 28, 2017–Sam GarciaThe Department of Veterans Affairs said it is continuing its policy of requiring a copy of the agreement or sales contract be provided to the appraiser.
Mortgage Risk Rises as Cashout Transactions Grow
Mortgage Daily, Feb. 28, 2017An increase in the volume of cashout originations is creating more risk for mortgage investors, said Moody’s Investors Service.