Fannie Mae's gross mortgage portfolio declined at a compound annualized rate of 19.1 in August, marking the sixth time in the last seven months that the portfolio has contracted at the rate of at least 13 percent, according to Fannie Mae's August 2015 Monthly Volume Summary released Wednesday.
Read More »HUD Awards Housing Groups $38 Million to Battle Housing Discrimination
HUD will award $38,366,909 million to over 100 housing groups across the nation to fight housing discrimination under their Fair Housing Initiatives Program.
Read More »Is Student Loan Debt Affecting Millennial Homeownership Rates?
While student loan debt does play a role in the low homeownership rates among millennials, it does not fully explain why this generation is slow to purchase a home, according to Freddie Mac's monthly Insight & Outlook for September released Wednesday.
Read More »Credit Unions’ Statutory Lending Cap Blocks Underserved Consumers
Credit unions are in a better position to assist underserved consumers, but a lending cap imposed on credit unions by the U.S. Treasury is keeping these institutions from better serving consumers.
Read More »Millennials No Longer the ‘Renter’ Generation
Although millennials have been labeled “the generation of renters,” research shows that this group is more interested in purchasing a home than other generations, but the problem is, they lack financial stability.
Read More »Five Mortgage Lenders Sued for False FHA Claims
The U.S. government has filed a lawsuit against five mortgage lenders and their principals, alleging that they defrauded the government and a number of banks through false Federal Housing Administration claims.
Read More »CFPB to Take ‘Diagnostic’ Approach Toward TRID Compliance
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray once again sat before the House Financial Services Committee on Tuesday for the CFPB's semi-annual report to Congress and touted the Bureau's efforts to protect consumers in its four years of existence while taking questions from Committee members on such topics as mortgages, auto lending, payday lending, and the TRID rule.
Read More »Existing Home Sales to Pick Up in September; Market Shifts to Buyer’s Favor
Existing home sales had a less than promising performance in August, but Auction.com's Real Estate Nowcast projects that they will pick back up in September. Realtor.com also predicts that lower prices and less competition will shift the housing market from seller's favor to buyer's.
Read More »U.S. Home Prices Post Strong Gains in July, Case-Shiller Shows
Home prices across the country increased again in July 2015, rising 4.7 percent year-over-year compared to a 4.5 percent increase recorded the prior month. according to S&P/Case-Shiller Home Price Indices.
Read More »Mortgage Interest Rates Fall in August
Interest rates on conventional purchase-money mortgages decreased three basis points from 4.02 percent in July to 3.99 percent in August for loans closed at the end of August, according to a index from the Federal Housing Finance Agency.
Read More »