Fresh off of last week’s regulatory victory in which the Federal Housing Finance Agency withdrew its controversial adverse market refinance fee, the Mortgage Bankers Association and several dozen industry trade groups took fresh aim at another controversial practice—a move in Congress to use the government-sponsored enterprises’ guaranty fees—known as “g-fees”—to offset funding for non-housing programs.
The Mortgage Bankers Association and a dozen industry trade groups urged HUD to address “severe processing delays” that are impeding financing of affordable housing in the Federal Housing Administration multifamily and healthcare programs.
Existing home sales increased in June, the first monthly increase in five months, the National Association of Realtors reported Thursday.
Black Knight, Jacksonville, Fla., said the national delinquency rate hit its lowest level since the onset of the pandemic in June and is now back below its pre-Great Recession average. Despite the improvement, more than 1.5 million homeowners remain 90 or more days past due on their mortgages but who are not in foreclosure, still nearly four times pre-pandemic levels.
Initial claims for unemployment insurance jumped by 51,000 last week to 419,000, the Labor Department reported Thursday, continuing a recent trend of volatility that has seen claims take two steps forward, one step backward.