Category: News and Trends

Looming geopolitical tensions and the growing potential for a U.S. government shutdown as well as a technical default pose risks to the economy but are not expected to derail full-year growth of 2.0 percent, according to the Fannie Mae Economic & Strategic Research Group’s August Economic and Housing Outlook.

Commercial property market supply and demand fundamentals remained stable in the first quarter, reported Moody’s Investors Service, New York.

The commercial mortgage-backed securities delinquency rate dropped significantly in July after climbing in June and issuance volume remained healthy, reported Trepp and Kroll Bond Rating Agency, New York.

The Great Recession caused a dramatic increase in the homeownership gap between high-income and low-income households, but housing and economic growth during the recovery years helped to narrow this gap, said Trulia, Seattle.

Economic ‘tailwinds’ are contributing to healthy mortgage performance, reported CoreLogic, Irvine, Calif., as the delinquency rate fell to its lowest point in nearly a decade.

Black Knight Financial Services, Jacksonville, Fla., said more than 1.5 million borrowers have purchased homes with 10 percent down payments over the past 12 months, the highest such volume in seven years.

The Mortgage Bankers Association, in a letter to the Consumer Financial Protection Bureau, offered recommendations regarding proposed amendments to the Home Mortgage Disclosure Act.

The Mortgage Bankers Association sent a letter this week to the Consumer Financial Protection Bureau, addressing the Bureau’s Ability-to-Repay/Qualified Mortgage Rule and offering a set of recommendations to improve the rule.

Following a Federal Housing Finance Agency request for input on issues faced by borrowers with limited English proficiency, the Mortgage Bankers Association and other associations raised serious concerns about proposals to add a “Language Preference” question to the Uniform Residential Loan Application.

The Mortgage Bankers Association’s Mortgage Action Alliance issued a Call to Action, urging members to contact the Federal Housing Finance Agency on a controversial proposed question on Limited English Proficiency in loan applications.