Home Equity Lending News, July 22, 2024Average quarterly interest rates on credit unions’ home-equity lines of credit retreated, while HELOC rates at banks escalated — causing the spread between the …
Category: Top National News
Home Equity has Doubled in Seven Years for Americans. But How Do You Get at the Money?
USA Today, July 16, 2024–Daniel de ViséHomes are the nation’s piggy bank. And they are worth a collective $32.8 trillion, as of early 2024, according to federal data. That’s up …
HUD Proposes Permanent Program for Sale of Seriously Delinquent Mortgages
HousingWire, July 17, 2024-Flávia Furlan NunesThe U.S. Department of Housing and Urban Development (HUD) on Wednesday proposed a new rule that would implement a permanent program to sell seriously delinquent …
Refinances Propel Rebound in Mortgage Application Volumes
National Mortgage News, July 17, 2024-Spencer LeeRefinances saw their highest level of interest since 2022, leading to the first increase in home lending volume in three weeks, according to the …
Final Automated Valuation Model Rule Published by 6 Regulators
National Mortgage News, July 17, 2024-Brad FinkelsteinA final rule governing the use of automated valuation models in mortgage lending has now been published by a group of six federal regulators, …
Remodeling Rebound Forecast for 2025
The Wall Street Journal, July 18, 2024-Ryan DezemberA widely cited gauge of home renovation and repair spending predicts an upswing early next year, after dipping in 2024.Click here for more (subscription)
Depository Share of Mortgage Servicing Declines Again in 2Q
Inside Mortgage Finance, July 19, 2024–John BancroftBanks, thrifts and credit unions serviced $3.081 trillion of single-family loans held in agency mortgage-backed securities as of the end of June, down 1.7% …
American Borrowers Are on Shakier Ground. These Charts Show Why.
The Wall Street Journal, July 21, 2024-Gina Heeb and Kailyn RhoneThe American economy has held up well against higher inflation and interest rates. Many individual borrowers haven’t.Click here for more (subscription)
Cash-Out Refi Activity Helps Loosen Mortgage Credit
National Mortgage News, July 11, 2024-Brad FinkelsteinMortgage credit continues to loosen as lower interest rates led lenders to add cash-out refinance products to their menus, the Mortgage Bankers Association found.Click …
FHA Releases Redraft of Servicing Defect Classifications
National Mortgage News, July 11, 2024–Bonnie SinnockThe descriptions for remedies and indemnification have the most significant changes and more details were added throughout.Click here for more (subscription)