Despite a strong start to the 2020 housing market, Redfin, Seattle, said a deepening shortage of homes for sale and surging homebuyer demand are set to push prices up at the fastest rate in years.
Category: News and Trends
CoreLogic: Serious Delinquency Rates Triple in Recent Disaster Areas
CoreLogic, Irvine, Calif., released its annual Natural Hazard Report, saying communities affected by wildfire, hurricanes, tornadoes, earthquakes and other natural disasters in 2019 will likely experience an increase in mortgage delinquency rates, taking 12 or more months before normalizing to pre-disaster rates.
Default Servicing Analysts Expect Uptick in Some Loan Types
Altisource Portfolio Solutions SA, Luxembourg, said its annual survey of default servicing professionals show a bit of nervousness in 2020 over certain loan types, including FHA and private lender loans.
CFPB Clarifies Treatment of ‘Compliance Aids’
The Consumer Financial Protection Bureau yesterday issued a Policy Statement announcing a new designation for certain Bureau guidance materials, referred to as “Compliance Aids.”
The CFPB Policy Statement on ‘Abusive Acts or Practices:’ What it Means
On Friday, the Consumer Financial Protection Bureau issued a policy statement providing a “common-sense framework” on how it intends to apply the “abusiveness” standard in supervision and enforcement matters–a clarification long-awaited by Mortgage Bankers Association and the real estate finance community.
MBA, Trade Groups Raise Concerns over TRID Brokered Transactions
The Mortgage Bankers Association, in a letter last week to the Consumer Financial Protection Bureau, said as the Bureau assesses the effectiveness of its TRID Integrated Disclosure Rule it should reconsider provisions of the rule regarding wholesale creditors and brokered transactions.
ATTOM: 2019 Average Home Seller Profits at Record $65,500
ATTOM Data Solutions, Irvine, Calif., said home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago.
Black Knight ‘First Look:’ Strong Close to 2019 Pushes Mortgage Delinquency Rate to Near-Record Low
Black Knight, Jacksonville, Fla., said mortgage delinquencies fell by nearly 4% month-over-month to within 0.04% of the record low set this past May and more than 12% below from a year ago.
MBA Statement on CFPB Letter to Congress on QM Standard
On Jan. 17, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to members of Congress, signaling proposed changes to the current Qualified Mortgage standard.
MBA, Trade Groups Urge FHFA to Use Caution on Changes to GSE UMBS Pooling Practices
The Mortgage Bankers Association, in a letter to Federal Housing Finance Agency Director Mark Calabria, urged caution on a proposed “waterfall approach” to pooling practices used by Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Security market, saying in its current form the proposal could have a “negative effect” on market liquidity, raise borrowing costs and reduce access to credit.