Category: News and Trends

The Census Bureau yesterday reported the U.S. homeownership rate rose slightly in the third quarter, to 64.4 percent, from 64.3 percent in the second quarter and from 63.9 percent a year ago.

The Federal Housing Finance Agency yesterday proposed amendments to existing regulations for Federal Home Loan Bank housing goals.

If history is any indicator, the Carolinas and the Florida Panhandle can expect to see loan defect spikes in the coming months, said First American Financial Corp., Santa Ana, Calif.

As the Federal Communications Commission grapples with protecting consumers from intrusive cold calls and fax-spamming, the Mortgage Bankers Association urged the Commission to promulgate “appropriate” regulations under the Telephone Consumer Protection Act.

Black Knight, Jacksonville, Fla., said seasonal and hurricane-related events this summer pushed mortgage delinquencies to their highest single-month rate in nearly a decade.

Home buyers today would have to spend nearly $1,400 more per year on their mortgage than they would have a year ago, as rates have risen rapidly since the beginning of 2018, said Zillow, Seattle.

The Mortgage Bankers Association and other industry trade groups urged federal banking agencies to streamline the “Volcker Rule” to reduce costs for businesses.

TransUnion, Chicago, said growth in home equity could lead to a surge in home equity lending over the next year. However, the Joint Center for Housing Studies at Harvard University said home improvement and repair spending is expected to soften in 2019.

Rent prices in single-family rental properties increased 3.1 percent year-over-year in August, reported CoreLogic, Irvine, Calif.

WASHINGTON, D.C.–The mortgage industry’s adoption of financial technology will be more evolutionary than revolutionary, two mortgage technology leaders said here at the Mortgage Bankers Association’s Annual Convention & Expo.