The Federal Housing Finance Agency on Tuesday announced its intent to establish a Federal Advisory Committee on Affordable, Equitable and Sustainable Housing.
Category: News and Trends
July New Home Sales at 6-1/2 Year Low; Price Growth Decelerates
New home sales fell to their slowest pace in six and a half years, while inventories stockpiled, HUD and the Census Bureau reported Tuesday. In a separate report, RE/MAX, Denver, said median home sales prices fell for the first time since January
CMBS Special Servicing, Delinquency Rates Dip
Commercial mortgage-backed securities special servicing and delinquency rates both dipped in July, according to Trepp LLC and Fitch Ratings.
Dealmaker: Institutional Property Advisors Closes $58M Multifamily Sale
Institutional Property Advisors, Ontario, Calif., sold Phoenix multifamily property Villas Los Limones. The $58.24 million sales price represented $260,000 per unit.
MBA Opens Doors Foundation Surpasses 10,000 Families Milestone
The MBA Opens Doors Foundation announced it has helped more than 10,000 families with mortgage and rental assistance since its Home Grant Program launched in 2012.
Jeff Jaffe of Housing Finance Strategies: Launching Special Purpose Credit Programs
After the death of George Floyd in 2020, many banks and mortgage companies announced commitments to social justice and addressing the persistent homeownership gaps in this country. SPCPs, despite the challenges, can be an effective tool for addressing the gap.
MBA Builder Applications Survey Falls for 4th Straight Month
The Mortgage Bankers Association Builder Applications Survey reported mortgage applications for new home purchases in July fell by 16.1 percent from a year ago, marking the fourth consecutive monthly decrease.
Industry Briefs Aug. 24, 2022: Vice Capital Markets Releases API for Freddie Mac Cash Purchase Statement
Vice Capital Markets, Novi, Mich., released an integration for Freddie Mac’s Cash Settlement Purchase Statement application programming interface.
Quote
“Last week’s purchase results varied, with conventional applications declining 2 percent and government applications increasing 4 percent, which is potentially a sign of more first-time homebuyer activity. The average purchase loan size continued to trend lower, as purchase activity at the high end of the market is weakening.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Vinny Souza of Enact Mortgage Insurance; Going Beyond Data-Driven: How Model Outputs are Future Drivers of Decision-Making
While being data-driven is an important milestone for many, it’s time to move forward to the next destination on this digital journey. Let’s talk about making the jump from data-driven decision-making to model-driven decision-making.