The Lede
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Mortgage Applications Pull Back 2.7% as Rates Turn Higher Again
CNBC, Jan. 23, 2019--Diana OlickTotal application volume fell 2.7 percent compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 3.3 percent higher than a year ago.
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Enhancing the FHA’s Loss Mitigation Toolkit Can Improve Borrower Outcomes
Urban Institue, Jan. 23, 2019The Urban Institute's Mortgage Servicing Collaborative agrees that the FHA could improve outcomes for borrowers and mitigate costs for servicers by simplifying requirements.
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No Pay Stub? No Problem. Unconventional Mortgages Make a Comeback
Wall Street Journal, Jan. 23, 2019--Ben Eisen (subscription)A flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. These loans, aimed at buyers with unusual circumstances such as those who can't provide the standard proofs of income, are growing rapidly even as rising interest rates and higher home prices crimp demand for mortgages.
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FHFA: Home Prices Slightly Rise in November
HousingWire, Jan. 23, 2019--Alcynna LloydHome prices rose in November, inching forward 0.4% from October, according to the latest monthly House Price Index from the Federal Housing Finance Agency.
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Unconventional Loans Surge in 2018: Housing Trouble Ahead
Fox Business, Jan. 23, 2019--Brittany De LeaHomebuyers are increasingly opting for nontraditional mortgages - Opens a New Window. which helped precipitate the housing crisis about one decade ago - potentially foreshadowing trouble as high prices continue to weigh on housing affordability. (MBA mention)
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Millions of Bank Loan and Mortgage Documents Have Leaked Online
Tech Crunch, Jan. 23, 2019--Zack WhittakerA trove of more than 24 million financial and banking documents, representing tens of thousands of loans and mortgages from some of the biggest banks in the U.S., has been found online after a server security lapse. The leak was traced back to Ascension, a data and analytics company for the financial industry, based in Fort Worth, Texas.
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Five House Freshmen to Watch on Housing Issues
National Mortgage News, Jan. 23, 2019--Hannah Lang (free article)The 21 new members of the House Financial Services Committee are poised to tackle housing alongside Chair Maxine Waters, D-Calif., and Rep. Patrick McHenry, R-N.C., and some bring notable qualifications to the table, with extensive backgrounds in consumer protection or experience authoring legislation to benefit homeowners.
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