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Author Archives: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected].

Low-Income Homeowners Feeling Same Struggle As Renters

Some may think owning a home means having more financial stability than renting, but a recent report says low-income homeowners are just as burdened by housing costs as renters. Housing shortages have sparked increasing home prices over the last few months and a higher share of homeowners and renters are facing affordability issues— a quarter of renters spending at least half of their income on rental housing compared to the 10 percent of homeowners. The generally lower income of renters normally explains this, but at a closer look at the numbers, they found that homeownership doesn’t protect low-income homeowners.

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Falling Home Starts Could Be Because of Warm Winter

It’s now the third month straight that U.S. homebuilding has fell—considering the U.S. is currently in a housing shortage, this isn’t good news. According to the latest report from the U.S. Census Bureau, this is the lowest level housing starts have been at in eight months. The biggest drop in housing starts was in the South and Midwest, while the West slightly rose and Northeast stayed stagnant.

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First Time Homebuyers: Where’s the Value?

Many different factors come to mind when looking for a home. Good schools, commute time, low crime, and location of places of interest nearby bring overall convenience for the homeowner. A recent report examined the nation’s 100 biggest metros to determine where in the U.S. first-time homebuyers would find the most value.

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Only 2.7 Months of House Supply Left

housing prices are on the rise this summer selling season even though inventory is at an extreme low, according to a recent report. May held many records for the report including the rise in home prices. When over 1,000 buyers were asked what a 5 percent rate hike would do to their home buying plans, despite the recent rate hike, buyers overall feel their search won’t be affected.

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Report Says Half of Homebuyers Aren’t Mortgage Knowledgeable

for sale

When it comes to homeownership, things can get confusing. It was recently reported that almost half of homebuyers were unable to answer questions about key mortgage qualification criteria and consumers are in agreement that homeownership education is helpful and should occur earlier in the process. So what needs to be done in order to educate while not delaying closing?

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IDS Announces New Document Preview Feature

International Document Services, Inc., a Mortgage document preparation vendor, announced it has incorporated a new document preview feature into its integration with LendingQB’s cloud-based loan origination solution. The feature allows LendingQB users to preview mortgage documents, such as the Loan Estimate or Closing Disclosure, before they are submitted to fulfillment. This enables lenders to spot and correct errors before the creation of the final document.

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Industry Reacts: Deregulation of Financial System on the Horizon

Deregulation is on the horizon according to the U.S. Department of the Treasury’s Monday report. While some avidly oppose the change, many see it as a positive adjustment for banks, consumers, and the economy. Whether the changes will destroy the economy or create long-term stability, the Treasury and Administration said it will forge ahead to its next steps working with congress to change statutes, regulations, and supervisory guidance.

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Early-Stage Mortgage Delinquency Falls to Lowest Since 2000

Overall mortgage delinquency rates were down in the month March, according to a recent report. Most rates were at a position lower than what they have been in over 10 years, but early-stage delinquencies saw a 17 year low. According to the report, this can be attributed to stringent post-crisis underwriting standards as well as better fundamentals.

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Consumer Borrowing: Smallest Increase in 6 Years

Recently, the April 2017 Consumer Credit report was released, revealing all of the outstanding credit extended to individuals for household, family, and other personal expenses, excluding loans and real estate for the past month. April marked the smallest increase in consumer borrowing in six years. The Federal Reserve reported total consumer credit rising 2.6 percent, increasing the $8.2 billion in April compared to March’s revised $19.5 billion.

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The Week Ahead: New Residential Construction

Next Friday, the Department of Housing and Urban Development will release their May New Residential Construction Activity report. Last month, new privately owned residential construction permits fell 2.5 percent, from 1,260,000 to 1,229,00. You can see more on this plus what’s to come next week in The Week Ahead.

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