July New Home Sales Hit 13-Year High

Sales of new single-family houses in July posted another strong double-digit gain, jumping to their strongest pace since 2006, HUD and the Census Bureau reported yesterday.

Industry Briefs Aug. 19, 2020

Freedom Mortgage Corp., Mount Laurel, N.J., and RoundPoint Mortgage Servicing Corp., Charlotte, N.C. completed their previously announced merger. RoundPoint is now a wholly owned subsidiary of Freedom Mortgage, a full-service mortgage company and provider of VA and government-insured lending.

Record Traffic Spurs Home Builder Index to New High

It’s been quite a year for the National Association of Home Builders/Wells Fargo Housing Market Index. In April, amid the worst of the coronavirus pandemic, the Index plunged 30 points to its lowest level since 2012. Yesterday—just four months later—the Index reached its highest point in its 35-year history.

Senate Confirms Dana Wade as FHA Commissioner

he Senate yesterday confirmed Dana Wade as FHA Commissioner by a 57-40 vote. The Mortgage Bankers Association strongly supported Wade’s nomination.

HUD Terminates Affirmatively Furthering Fair Housing Rule

The Trump Administration yesterday abruptly terminated the Obama-era Affirmatively Furthering Fair Housing rule, replacing it with a new rule that HUD Secretary Ben Carson said would ease burdens for local communities dealing with fair housing.

Housing Starts Post Healthy June Gain

July has been a good month for the housing industry thus far; HUD and the Census Bureau kept the momentum going Friday with a positive report on housing starts.