The Federal Housing Finance Agency yesterday announced its 2021 affordable housing goals for Fannie Mae and Freddie Mac will remain the same as they were in 2020. It also seeks input about future housing goals rulemaking.
Category: News and Trends
3Q Home Flipping Drops but Profits Reach Record High
ATTOM Data Solutions, Irvine, Calif., said home flipping fell in the third quarter from both the second quarter and a year ago, but profits—and profit margins—jumped to record highs.
With Record-Low Rates, All Signs Move Forward in MBA Weekly Survey
Interest rates fell again last week, and homebuyers took advantage across the board, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending December 11.
Fed Stays the Course: Monetary Policy ‘Quite Supportive for Housing, Mortgage Markets’
With the economy still suffering and a sharp uptick in coronavirus cases nationwide, the Federal Open Market Committee was widely expected to hold the line during its two-day policy meeting that ended yesterday. And it did.
FHA Technology Initiatives Begin Bearing Fruit
A partnership between the HUD’ Office of the Chief Information Officer and HUD’s Federal Housing Commissioner, FHA Catalyst is a secure, flexible, cloud-based platform that provides a modern, automated system for lenders, servicers and other FHA program participants.
Quote
“Monetary policy has been quite supportive for housing and mortgage markets. Low rates have stimulated an epic refinance wave, and have also increased affordability for many potential homebuyers. The Fed today has provided additional assurance that supportive policies will remain in place, and there is hope that an additional fiscal stimulus package will soon be passed to support households and businesses currently in distress.”
–MBA Chief Economist Mike Fratantoni.
The Redesigned URLA Mandate Is Around the Corner. Will Your Technology Solution Be Ready?
December is always a busy month, and this is especially true for mortgage lenders this year. With 2021 rapidly approaching, the deadline to implement the redesigned URLA and updated automated underwriting system (AUS) datasets will be here before we know it.
Builder Confidence Dips from Record Highs, But Stays Strong
Builder confidence in the market for newly built single-family home fell for the first time in three months in December, but remained strongly optimistic, the National Association of Home Builders reported yesterday.
People in the News Dec. 17, 2020
Promontory MortgagePath LLC, Danbury, Conn., hired Elisha Werner as chief compliance officer for mortgage operations. She will lead compliance efforts for the company’s residential mortgage operations and oversee the regulatory and compliance implementation process including contributing to and testing the company’s compliance controls and digital mortgage origination technology.
MBA Mortgage Action Alliance Reaches 70,000-Member Milestone
The Mortgage Bankers Association announced its grassroots advocacy arm, the Mortgage Action Alliance, reached a record-setting milestone of more than 70,000 active members nationwide.