Total nonfarm payroll employment grew by 256,000 in December, and the unemployment rate was little changed at 4.1%, the U.S. Bureau of Labor Statistics reported.
Category: News and Trends
Fannie Mae Reports Housing Sentiment Finishes 2024 Higher
Fannie Mae’s Home Purchase Sentiment Index decreased 1.9 points in December to 73.1 but remained substantially higher than year-ago levels due in part to ongoing mortgage rate optimism.
How to Navigate Mortgage Lending Compliance Challenges: Ncontracts’ Rafael DeLeon
Let’s explore some of the most common compliance challenges mortgage lenders face and how automated compliance management processes can streamline risk mitigation.
MBA Applauds HUD Move on Multifamily Underwriting Enhancements
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on HUD’s changes to the minimum debt service coverage ratio and maximum loan-to-cost percentage levels for Federal Housing Administration multifamily loans:
MBA Statement on the Victims of the Southern California Wildfires
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the victims affected by the wildfires in Southern California:
Redfin: Housing Affordability Improved a Bit in 2024
Redfin, Seattle, released an analysis of 2024 affordability trends, finding that there was a slight improvement in housing affordability, although it was still the second-least-affordable year on record.
Servicing Quote of the Week
“MBA believes strongly that any efforts to remove Fannie Mae and Freddie Mac (the GSEs) from their federal government conservatorships must fully consider the impact on single-family and multifamily housing markets and overall financial stability. This includes the critical move that Congress establishes an explicit federal backstop for mortgage-backed securities.”
–MBA’s President and CEO Bob Broeksmit, CMB
Neptune Flood: 20M Homes at Flood Risk, but Only 3.8M Insured
Neptune Flood, St. Petersburg, Fla., released an analysis of the U.S. residential flood insurance market, finding that while 20 million U.S. homes are at moderate-to-severe flood risk, only 3.8 million are insured.
MBA Names Jamie Woodwell SVP of Commercial/Multifamily Policy and Strategic Industry Engagement
The Mortgage Bankers Association on Monday promoted Jamie Woodwell to Senior Vice President of Commercial/Multifamily Policy and Strategic Industry Engagement. Woodwell, a 20-year veteran at MBA, will oversee the association’s public policy and member engagement efforts across all commercial real estate finance sectors, working closely with member leaders and staff to advance MBA members’ business and policy objectives.
CoreLogic: Investor Share Likely to Remain Roughly Quarter of Total Sales
CoreLogic, Irvine, Calif., released its report on Q3 2024 investor activity on home purchases, finding a small uptick from mid-year numbers.