The total value of U.S homes gained $3.1 trillion over the past 12 months to reach a record $49.6 trillion, according to a new report from Redfin, Seattle.
Category: News and Trends
Auction.com: Demand for Distressed Properties May Be Starting to Slow
Auction.com, Irvine, Calif., released its Q2 2024 Auction Market Dispatch, finding that demand for distressed properties sold at auction started to slip in June.
FHA Publishes Rule Regarding Modernizing Engagement with Borrowers in Default
The Federal Housing Administration on Friday published a final rule, Modernization of Engagement with Mortgagors in Default, in the Federal Register.
Home Improvements Top Reason to Tap Home Equity, Bankrate Reports
More than half of current homeowners (55%) see home improvements or repairs as a good reason to access built-up home equity, according to Bankrate, New York.
Equifax’s Craig Crabtree: Comprehensive Insights Can Lead to Better Outcomes for Lenders, Consumers and Communities
Home buyers are currently experiencing affordability challenges driven by higher interest rates, tighter inventory and elevated home prices. And the mortgage industry is seeking solutions to meet these challenges while making home loans easier and more affordable.
MBA Chart of the Week: Taxonomy of Mortgage Default
Recently, the Research Institute for Housing America (RIHA), MBA’s think tank, released a special report, Mortgage Design, Underwriting, and Interventions: Promoting Sustainable Homeownership, that looks at the lessons learned from the Great Financial Crisis, the Covid-19 pandemic, and other past episodes of default, to understand how to design a more robust mortgage system that proactively supports sustainable homeownership.
Servicing Quote Tuesday, Aug. 6, 2024
“The study’s findings can help the industry identify current issues impacting overall housing sustainability and how to prep for future housing downturns.”
–Edward Seiler, Executive Director, Research Institute for Housing America, and MBA’s Associate Vice President, Housing Economics, on the MBA RIHA report
ICE Mortgage Monitor: Tappable Equity Hits Record $11.5 Trillion
Mortgage holders’ equity levels continue to reach new heights, according to Intercontinental Exchange, Inc.
MBA RIHA: Mortgage Industry Should Develop New Intervention Policies for Distressed Borrowers
According to a new research report released by the Mortgage Bankers Association’s Research Institute for Housing America (RIHA), examining current mortgage design models, underwriting standards, and intervention policies would help alleviate market pressures resulting from high levels of mortgage defaults.
USMI: 64% of Buyers With Private Mortgage Insurance Are Purchasing First Home
U.S. Mortgage Insurers, Washington, released a report finding that nearly 800,000 Americans used private mortgage insurance to purchase a home in 2023, and 64% were first-time buyers.