It seemed inevitable: after a huge 55 percent jump last week—and a sharp increase in mortgage interest rates in recent days—mortgage applications really had no place to go but down this week.
Category: News and Trends
Genworth Reports Strong First-Time Home Buyer Activity Amid Shift to Second-Timers
Genworth Mortgage Insurance, Richmond, Va., reported strong first-time home buyer activity in the fourth quarter, with single-family purchase activity up by 6 percent from a year ago.
March Builder Confidence Declines Amid Rising Risks
Builder confidence in the market for newly built single-family homes fell two points to 72 in March, the National Association of Home Builders reported yesterday.
FHFA, HUD Suspend Foreclosures/Evictions for 60 Days
HUD and the Federal Housing Finance Agency a short while ago announced they would suspend foreclosures and evictions for Fannie Mae, Freddie Mac and FHA mortgages for at least the next 60 days amid the coronavirus pandemic.
MBA: February New Home Purchase Mortgage Applications Up 26% From Year Ago
Despite falling by 1 percent from January, mortgage applications for new home purchases increased by nearly 26 percent from a year ago, the Mortgage Bankers Association reported this morning.
MBA Responds to Ongoing Spread and Impact of Coronavirus
MBA President and CEO Bob Broeksmit, CMB, issued the following statement regarding response to the ongoing spread and impact of the coronavirus (COVID-19):
Faith Schwartz, Christy Moss, CMB: What Happens When COVID-19 Starts Affecting Mortgage Payments?
COVID-19’s economic impacts are only beginning to be felt in the United States, and already it’s been a wild ride.
MBA, Trade Groups Cite Strong Concerns with PACE Programs
The Mortgage Bankers Association and nearly a dozen industry trade groups told Federal Housing Finance Agency Director Mark Calabria that Property Assessed Clean Energy programs—known as PACE programs—pose safety and soundness issues for the real estate finance industry.
People in the News
Sagent Lending Technologies, King of Prussia, Pa., appointed Dan Sogorka CEO and president, replacing Bret Leech who will become executive chairman and board member.
The Latest on LIBOR Transition with MBA’s Andrew Foster, Dan Fichtler
MBA NewsLink interviewed Mortgage Bankers Association Associate Vice President of Housing Finance Policy Dan Fichtler and Associate Vice President of Commercial/Multifamily Andrew Foster about the transition away from the London Interbank Offered Rate to a successor index for floating-rate loans.