The scrutiny borrowers face when seeking jumbo loans might be as tough as ever, but qualifying one is at least getting easier.
Read More »Judges Grant a Stay to PHH Corp. for Paying CFPB’s Penalty
Almost immediately, PHH and its lawyers, Los Angeles-based Gibson Dunn & Crutcher, petitioned the District of Columbia U.S. Circuit Court of Appeals to “modify or set aside civil investigative demand” while the company made its case against what it called an abuse of power by the CFPB.
Read More »Amid Economic Concerns, Fewer Americans Are Optimistic About the Housing Market
The report found that consumer attitudes toward selling stumbled last month, despite a recent flurry of optimistic projections about the U.S. housing market in general. In the past week, the National Association of Home Builders reported that more than half of builders it surveyed see 55+ housing as a solid endeavor.
Read More »Feds Update Rules for State-Run Appraisal Management Companies
Six federal financial regulatory agencies Thursday issued minimum requirements for state registration and supervision of entities that provide appraisal management services to lenders, underwriters, and other principals in the secondary mortgage market.
Read More »FHFA Expands Push for Diversity on Federal Boards
The FHFA now requires that Federal Home Loan Banks and their Office of Finance include demographic data related to their boards of directors in their annual minority and women inclusion reports to the agency. The banks also must now include descriptions of their outreach activities and strategies designed to promote diversity in nominating or soliciting nominees for positions on boards of directors.
Read More »Report: Oil-Rich States Could See Housing Price Drop
The national average risk score for home price declines in most markets, according to the index, is holding at a steady 8 percent (since February) DeFranco said. However, North Dakota, Oklahoma, and Texas, the report found, each are at a 33 percent risk of seeing home prices drop.
Read More »FHFA: Home Prices Nearing Pinnacle Reached in 2007
U.S. house prices overall rose 0.7 percent on a seasonally adjusted basis from January to February, according to the agency’s monthly House Price Index report. Prices were up 5.4 percent nationwide compared to this time last year. The HPI is calculated by using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
Read More »Study Finds Population Growth Influences Home Values
The three fastest-growing areas of the country were largely immune from the effects of the housing crisis, leading Massachusetts-based Pro Teck Valuation Services to conclude that population growth is a strong indicator of home values, according to a report the company released Wednesday.
Read More »Morgan Stanley Posts Solid Q1 Earnings Amid Strong Equity Sales and Investments
The firm also repurchased approximately 7 million shares‒‒worth about $250 million‒‒of its common stock in the quarter. According to the statement, Morgan Stanley stock leapt from 74 cents per share to $1.18 between the first quarters of 2014 and 2015. The firm plans to repurchase as much as $3.1 billion of common stock through the end of Q2 2016.
Read More »Fannie Mae Expands Its Assessment Software
Fannie Mae’s software upgrade is part of an effort it’s been rolling out since the beginning of the year. The GSE introduced Collateral Underwriter to the market in January and has nearly 800 lenders registered as users already, according to the Monday announcement. For some, the new system makes immediate and obvious sense.
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