MND NewsWire

MND NewsWire : Housing and Economic News

Last feed update: Wednesday September 20th, 2017 05:39:19 AM

Fraud Risk Continues Upward Trend

Tuesday September 19th, 2017 05:42:10 PM Jann Swanson
Jumbo refinances led the way as mortgage fraud risk posted another gain in the second quarter of 2017.  CoreLogic reports that overall risk, as measured by its Mortgage Application Fraud Risk Index, was up 16.9 percent from the second quarter of 2016. The company estimates 13,404 mortgage applications ...

Building Permits Regain Footing, Housing Starts Still Struggling

Tuesday September 19th, 2017 02:03:07 PM Jann Swanson
Residential construction outcomes in August were mixed, with permitting enjoying a strong comeback after more than a 4 percent downturn in July, but housing starts continuing to slide.  Residential completions were also down substantially, which was probably weather related. The U.S. Census Bureau ...

Student Debt Undermining Millennial Homeownership

Monday September 18th, 2017 04:21:42 PM Jann Swanson
A new study is providing more evidence that student debt is disrupting the lifecycle of the housing market.  The survey, conducted jointly by the National Association of Realtors (NAR) and the non-profit American Student Assistance (ASA), found that an overwhelming majority of millennials with student ...

Builder Confidence Loses August Momentum

Monday September 18th, 2017 02:36:34 PM Jann Swanson
Hurricanes Harvey and Irma, which ravaged Texas and Florida respectively, are taking at least some of the blame for diminishing builder confidence in the new home market.  The National Association of Home Builders (NAHB) said the NAHB/Wells Fargo Housing Market Index (HMI) dropped 3 points this ...

Irma Triples Harvey's Threat to Mortgage Lenders

Monday September 18th, 2017 01:29:44 PM Jann Swanson
In the literal wake of a second major hurricane in as many weeks, Black Knight Financial Services is again warning of some potentially disastrous outcomes for mortgage guarantors.  The company issued a report on September 11 estimating there was the potential of losses to mortgaged properties in ...

CFPB - "Regulation by Enforcement," or Business as Usual?

Friday September 15th, 2017 03:11:24 PM Jann Swanson
The Consumer Financial Protection Agency (CFPB) does not provide guidance to the financial institutions it regulates.   Instead it has evolved into a regime of "regulation by enforcement."  At least that is the conclusion of a white paper written for the Mortgage Bankers Association by ...

Goldman Raises Odds of Another Fed Rate Hike This Year

Thursday September 14th, 2017 06:37:26 PM CNBC News
Goldman Sachs economists said the odds for a third rate hike this year rose to 60 percent from 55 percent, after a significant firming in core inflation. August CPI rose 0.4 percent and core, excluding fuel and food, rose 0.248 percent, the Labor Department reported Thursday. Goldman had expected ...

Harvey’s Hit to Mortgages Could Be 4 Times Worse Than Predicted--Then There's Irma

Wednesday September 13th, 2017 05:58:58 PM CNBC News
As homeowners in Houston struggle to dry out and rebuild, they may also struggle to make payments on their mortgages. New estimates suggest at least 300,000 borrowers will become delinquent on their loans and 160,000 could become seriously delinquent, that is, more than 90 days past due, when banks ...

Mortgage Delinquencies Remain Low in June

Wednesday September 13th, 2017 02:13:00 PM Jann Swanson
CoreLogic reported on Tuesday that the national mortgage delinquency rate in June was again the lowest in nearly a decade.  The company's Loan Performance Insights Report for the month shows 4.5 percent of outstanding mortgages were in some stage of delinquency, that is 30 or more days past due ...

Mortgage Applications Jump Nearly 10%

Wednesday September 13th, 2017 12:18:26 PM CNBC News
Homebuyers are clamoring to capitalize on the lowest interest rates in almost a year, driving total mortgage application volume 9.9 percent higher last week. The Mortgage Bankers Association's seasonally adjusted weekly index is still 19 percent lower than the same week last year, due to lower refinance ...

Equifax: Turning a Crisis into an Opportunity

Tuesday September 12th, 2017 03:21:54 PM Jann Swanson
If anything could be worse than half of the adults in the country having their personal and credit information hacked and stolen, it could be the way the company from whom it was stolen has handled it.  Equifax, one of the nation's three major credit reporting companies, was the target of hackers ...

Freddie Mac Unveils its HARP Replacement Loan

Tuesday September 12th, 2017 03:21:07 PM Jann Swanson
Last year Freddie Mac and Fannie Mae announced that their implementation of the Home Affordable Refinance Program (HARP) would continue through the end of 2018 and that both were developing a new high loan-to-value (LTV) refinance offering to be available once HARP did expire.  Freddie Mac has now ...

Harvey Loan Losses Could Top Katrina's

Monday September 11th, 2017 01:56:48 PM Jann Swanson
While Irma is battering the Florida coast and costing untold billions in damages, Black Knight Financial Services released information about the ultimate costs to the housing finance industry of Hurricane Harvey.  The disaster that struck primarily in the Houston/Port Arthur/Beaumont, Texas area ...

Quantitative Easing Did Affect Risk-Taking, Lending Standards

Friday September 8th, 2017 03:32:08 PM Jann Swanson
In response to the 2007-2008 financial crisis and the ensuing Great Recession, some central banks, including the U.S. Federal Reserve, put some unconventional monetary policies in place.  Among these policies were large-scale asset purchase programs (LSAPs) which are more commonly referred to in ...

Fannie Offers Assistance to Hurricane Victims

Thursday September 7th, 2017 05:18:45 PM Jann Swanson
As hurricane Irma roars toward Florida, and the Houston area tries to dry out from hurricane Harvey, Fannie Mae is reminding those homeowners might be or already have been affected by the storms about the options it provides for its single-family mortgage borrowers.  Homeowners who suffer damage ...

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