Redfin, Seattle, said home prices and year-over-year price gains hit another high as prices continued to rise during a time of year that they usually decline.
Category: News and Trends
‘Zombie’ Foreclosures on the Rise
ATTOM Data Solutions, Irvine, Calif., said its third quarter Vacant Property and Zombie Foreclosure Report showed 1.5 million residential properties in the United States are vacant, representing 1.6 percent of all homes. Nearly 4 percent of these vacant homes face foreclosure—so-called “zombie foreclosures.”
Dealmaker: Gantry Secures $24M for California Offices
Gantry, San Francisco, secured $23.5 million in financing for two California office buildings.
Nate Johnson: 3 Ideas Toward a Fast, Efficient, Profitable Mortgage Operations Process
The U.S. real estate industry is in a volatile state – as much, if not more, than it was during the 2008 financial crisis. We are seeing some record numbers in the mortgage industry with rising foreclosures, really low interest rates, and shortage of inventory. This does seem to be a stable environment, though – but while things seem to fall in place at times, the next moment new factors disrupt the market environment. Here are three areas of turbulence in the mortgage industry.
MBA Education Path to Diversity Scholar Profile: Malik Wilkes
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Industry Briefs Aug. 27, 2020
SimpleNexus, Lehi, Utah, enhanced its integration with MobilityRE with new features that improve the home search experience for borrowers and enable lenders and realtors to respond more swiftly to borrower requests.
Quote
“MBA and its members appreciate FHFA and the GSEs extending these important features. Both the origination flexibilities and the program to purchase loans in forbearance are providing important stability to the mortgage market during the pandemic, and today’s announcement will enable lenders to continue to make low rate mortgage financing readily available to consumers and avoid the inevitable credit tightening that would have resulted from their expiration.”
–MBA President & CEO Robert Broeksmit, CMB.
Mortgage Applications Down Again in MBA Weekly Survey
Mortgage applications fell for the second straight week amid little movement in interest rates, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending August 21.
FHFA Delays Refi Fee Implementation to Dec. 1
The Federal Housing Finance Agency this afternoon said Fannie Mae and Freddie Mac would delay implementation of a controversial Adverse Market Refinance Fee by two months, to Dec. 1.
State Regulators Seek Industry Input on MLO Licensing Test
State financial service regulators launched a survey of licensed mortgage loan originators yesterday to gather information on various job functions as part of a process to validate the nationwide licensing exam.