Redfin, Seattle, said average sale prices for luxury homes nationwide rose by 0.3 percent year over year to $1.6 million in the third quarter, marking the first time luxury prices did not drop after three straight quarters of declines.
Category: News and Trends
MBA Announces Two Affordable Housing Advisory Councils
The Mortgage Bankers Association announced formation of two advisory councils as part of its new affordable housing initiative.
MBA Announces Two Affordable Housing Advisory Councils
The Mortgage Bankers Association announced formation of two advisory councils as part of its new affordable housing initiative.
Home Equity Up; Negative Equity Down
Two recent reports show equity-rich properties have increased strongly this year, while the number of properties with negative equity continue to fall.
FHFA Issues RFI on Fannie Mae, Freddie Mac UMBS Pooling Practices
The Federal Housing Finance Agency yesterday issued a Request for Input about Fannie Mae’s and Freddie Mac’s pooling practices for the formation of “To-Be-Announced”-eligible Uniform Mortgage-Backed Securities.
Black Knight: First-Time Homebuyers ‘Under Pressure’ as Early-Stage Delinquencies Rise
Black Knight, Jacksonville, Fla., said nearly 1% of first quarter originations became delinquent six months post-origination. Though this represented less than one-third of the 2000-2005 delinquency average of 2.93%, it is up more than 60% over the past 24 months and the highest since 2010.
Homeowners Today Staying in Homes Five Years Longer Than in 2010
Redfin, Seattle, said the typical American homeowner has spent 13 years in their home, up from eight years in 2010. Median home tenure increased in all 55 metros Redfin analyzed, leading to decreased inventory available for first-time home buyers in many places.
Joe Ludlow of Advantage Systems on the Long Road to Embracing Technology
Joe Ludlow is Vice President for Irvine, Calif-based Advantage Systems, a provider of accounting and financial management tools for the mortgage industry.
Commercial Servicing Software Must be Flexible
Commercial servicing software needs to be flexible and scalable. It must accommodate a variety of loan products; include commercial-specific reporting, payment and escrow administration functionality; and provide support for asset managers.
SEC to Examine Disclosure Requirements for RMBS
Securities and Exchange Commission Jay Clayton last week issued a statement instructing SEC staff to review the Commission’s residential mortgage-backed securities asset-level disclosure requirements with an eye toward facilitating more SEC-registered offerings.