“There is a significant lack of affordable housing supply in the United States, and the problem is worsening. In 2001, a low- and moderate-income household could spend less than 30% of its income to rent the median rental unit in 38 of the largest 50 metro areas. By 2020, this was the case in only 17 metro areas.”
–Michael Eriksen, author of a RIHA report examining affordability challenges for low- and moderate-income renters.
Sen. Pat Toomey, R-Pa., ranking member of the Senate Banking Committee, yesterday released a set of guiding principles for housing finance reform, a move welcomed by the Mortgage Bankers Association.
The Mortgage Bankers Association said it is concerned over new limits on loan deliveries for second homes and investor properties by Fannie Mae and Freddie Mac.
2021 and beyond looks to be a marketplace defined by haves and have-nots with significant property type performance divergence both within and across property types. MBA Newslink interviewed CBRE’s Patrick Connell for some perspective on downturns and the role receiverships play in navigating the path to recovery.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 6 basis points to 5.14% of servicers’ portfolio volume as of March 7 from 5.20% the prior week. MBA estimates 2.6 million homeowners are in forbearance plans.
A rising tide lifts all boats, the saying goes. And for the nation’s homeowners, home price growth—buoyed by scant housing inventories and historically low interest rates—created unprecedented tappable equity in 2020, said Black Knight, Jacksonville, Fla.
ATTOM Data Solutions, Irvine, Calif., released its February U.S. Foreclosure Market Report, showing 11,281 U.S. properties with foreclosure filings— up 16 percent from a month ago but down 77 percent from a year ago.
CoreLogic, Irvine, Calif., said U.S. homeowners with mortgages saw their equity increase by 16.2% year over year, representing a collective equity gain of more than $1.5 trillion, and an average gain of $26,300 per homeowner, from a year ago.
Rana Fleming is Director of Homeowner Assistance and Servicer Reporting with Genworth Mortgage Insurance, Raleigh, N.C. She joined Genworth in 2012.
The Consumer Financial Protection Bureau on Mar. 9 issued an interpretive rule clarifying that prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gender identity discrimination.
