Bloomberg, Mar. 19, 2016–Matthews, Steve
The 2006-2009 housing slump reduced wealth by $7 trillion. Since then, the value of homeowners’ equity in real estate has more than doubled from a low in the first quarter of 2009, a Federal Reserve report today showed. What’s more, housing wealth is poised to reach a new record as early as the second quarter.
Reuters, Mar. 14, 2016
The amount of outstanding U.S. mortgages for multifamily homes rose to $1.06 trillion in 2015, up 10.4 percent from a year earlier, which was its fastest annual pace since 1993, the Mortgage Bankers Association reported Monday.
National Mortgage News, Mar. 14, 2016–Wack, Kevin
Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.
Scotsman Guide, Mar. 14, 2016–Whitman, Victor
Mortgage industry trade groups have renewed a push to prevent future raids on the guarantee fees (g-fees) collected by Fannie Mae and Freddie Mac.
Wall Street Journal, Mar. 14, 2016–Glazer, Emily
JPMorgan Chase & Co. is trying to sell new securities that would pass along most of the credit risk on $1.9 billion in mortgages, in an attempt to revive a debt market that has been largely left to the government since the financial crisis.
The Hill, Mar. 2, 2016–Needham, Vicki
Housing industry experts are sounding the alarm over the increasingly dire financial situation of the federal mortgage giants Fannie Mae and Freddie Mac. “I actually believe it’s really incumbent on Congress to take this up as an issue, thoughtfully, while we have time,” said David Stevens, head of the Mortgage Bankers Association.
National Mortgage News, Mar. 1, 2016–Collins, Brian
Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey.
MarketWatch, Mar. 1, 2016–Goldstein, Daniel
The housing market in Detroit is so weak that a new program has been created to help home buyers take out two mortgages when buying a home – one for the purchase price and one for renovations.
DS News, Mar. 7, 2016–Honea, Brian
Most of the news regarding housing fundamentals has been positive in the last two years or so. But mortgage delinquencies rose month-over-month in January for the first time since the housing recovery began.
National Mortgage Professional, Mar. 7, 2016–Clemans, Terry W.
When Fannie Mae rolls out the Desktop Underwriter Version 10.0 over the weekend of June 25, the mortgage industry will begin using a powerful new tool that has been in development for more than a decade and already proven in other markets.
