The Wall Street Journal published a letter to the editor Wednesday from Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, on the subject of letting mortgage lenders underwrite some loans based on a single credit report.
Category: News and Trends
MBA Premier Member Q&A: Cotality’s Shawn Telford on Collateral-Related Loan Defects
At the end of last year, Fannie Mae warned lenders about collateral-related loan defects that should have been detected in appraisal reviews. MBA NewsLink sat down with Shawn Telford, chief valuation officer at Cotality, to discuss the GSE’s concerns and what the industry should be doing to address them.
Jobs Increase by 178,000 in March; MBA Economist Weighs In
Total nonfarm payroll employment increased by 178,000 in March, the Bureau of Labor Statistics reported.
ALTA Study Highlights Complexity of Title Production
The American Land Title Association, Washington, D.C., released a new survey of title professionals finding that more than 80% of real estate purchase transactions require reviewing at least 11 documents.
Empty-Nest Boomers Own 28% of Large Homes; Millennials Own Just 16%, Redfin Reports
Empty-nest Baby Boomers own nearly twice as many U.S. homes with three or more bedrooms as Millennial families do, according to a new report from Redfin, Seattle.
New Research Finds Rising Insurance Premiums Influence Mortgage Delinquencies, Relocations
New research indicates that rising homeowners’ insurance premiums add to the financial burden of households struggling with mounting housing costs and could lead to mortgage delinquencies and even relocation.
Redfin: 13.7% of Home-Sale Agreements Fell Through in February
Redfin, Seattle, found 42,000 U.S. home-sale agreements fell through in February, equal to about 13.7% of homes that went under contract that month. That’s a record for February in data going back to 2017.
BatchData: Investors Purchased 32% of Single-Family Properties in Q4
BatchData, Tempe, Ariz., found real estate investors purchased 32% of all single-family residential properties sold in Q4, down from 34% in Q3.
Class Valuation’s Nikkita Phanda on UAD 3.6 and Collateral Modernization: What Lenders Need to Know
The transition to UAD 3.6 is already well underway, marking the most significant update to appraisal reporting standards in more than a decade.
Survey Finds Buyers Pay $32,000 in Additional Costs Above Down Payment
Best Interest Financial, St. Clair Shore, Mich., and Clever Real Estate, St. Louis, Mo., released a new survey finding that in addition to their down payment, buyers spent an average of $31,502 on upfront home-buying expenses.