Homeowners seeking to tackle home improvement projects appear undeterred by political and economic uncertainties and are spending nearly 60 percent more than a year ago on home improvement, reported HomeAdvisor.
Category: News and Trends
Secondary Market Reform: Moving from Concept to Reality
NEW YORK–After years of sitting in limbo, can substantive, comprehensive reform of Fannie Mae and Freddie Mac finally be possible?
Black Knight: ‘Final Wave’ of Pre-Crisis HELOCs to Reset This Year
Black Knight Financial Services, Jacksonville, Fla., said more than 1.5 million home equity lines of credit will see interest-only draw periods end in 2017, representing the final wave of pre-crisis home equity lines.
Fitch: U.S. Prime Jumbo RMBS Issuance Rebounds
Fitch Ratings, New York, said prime jumbo residential mortgage-backed securities activity showed strong signs of improvement in the first quarter, more than doubling volume from a year ago.
Experian: Mortgage Default Rates a Yearly High
S&P Dow Jones Indices and Experian, New York, said despite composite credit default rates holding steady in March, the first mortgage default rate reached its highest rate in a year and bank card defaults rose for the fifth straight month.
MBANow: MBA Chairman Rodrigo Lopez, CMB, discusses GSE Reform Proposal
The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman Rodrigo Lopez, CMB, who discusses release of a new MBA paper on secondary mortgage market reform.
HOPE NOW: February Loan Modifications Up
HOPE NOW, Washington, D.C., said permanent loan modifications rose slightly in February as foreclosure starts and delinquencies fell.
MBA Call to Action Urges Support of GSE Reform
The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action on Friday, urging its members to contact their representatives and senators to support efforts to reform the secondary mortgage market.
MBA, Trade Groups Offer Support for PACE Bills
More than two dozen industry trade groups joined the Mortgage Bankers Association in letters yesterday to support legislation that would modify consumer protection requirements for Property Assessed Clean Energy loans, also known as PACE loans.
Study: Homeowners with ARMs Increased Spending Despite Drop in Home Values
Homeowners with adjustable-rate mortgages significantly increased their spending both before and after anticipated mortgage payment decreases, despite a substantial drop in their home values, according to data from The JPMorgan Chase Institute, Washington, D.C.