CoreLogic reported that 10.8 percent of all residential homes were underwater in Q4 (about 5.4 million properties), which was down from 13.3 percent in the same quarter a year earlier – a decline of nearly 19 percent, or 1.2 million homes. The Q4 total was up slightly from the 10.3 percent that was reported for Q3 2014 – an increase of 3.3 percent.

Houston is the most overvalued housing market according to Bank of America’s measurements, which compare home prices with income growth. The fracking boom helped to drive the region’s economy, but a more than 50 percent drop in oil prices since last summer has clouded the outlook.

The Urban Institute has released a report discussing the impact of these changes and the likelihood Freddie Mac will need to take another draw from the Treasury. Accord to the report, Fannie Mae and Freddie Mac made a combined profit of over $120 million in 2013. But by 2014 the net profit from both institutions fell by 80 percent, with Fannie Mae profit totaling to $14 billion and Freddie totaling $8 billion. More alarming were Freddie’s fourth quarter profits, which were down 90 percent from just the previous quarter.

Two of the three HMI components posted losses in March. The component gauging current sales conditions fell three points to 58 while the component measuring buyer traffic dropped two points to 37. The gauge charting sales expectations in the next six months held steady at 59.

At the start of a trial in Manhattan federal court, a lawyer for the Federal Housing Finance Agency said misrepresentations by Nomura and Royal Bank of Scotland Group Plc, an underwriter, about loans underlying $2 billion (1.3 billion pounds) in securities exemplified broader misconduct by banks ahead of the crash.

The 2014 Conservatorship Scorecard expressed the expectation that the Enterprises would work to increase access to mortgage credit for creditworthy borrowers. Fannie Mae and Freddie Mac have since released programs that allow buyers to obtain a mortgage with a 3 percent down payment. In addition to providing better access to borrowers, the report stated improvements in the Enterprises’ risks. The improvements include stronger underwriting standards and stricter purchasing guidelines. For example, 97 percent loan-to-value (LTV) ratio loans must be fixed-rate and cannot have an adjustable rate. This provides a responsible approach to improving access to credit while also furthering safe and sound lending practices.

Renter confidence rose 4.4 points from last year to 62.4, with roughly 5.2 million renters saying they expect to buy a home this year. That’s an increase of 1 million from last year, when 4.2 million renters said they expect to buy a home. Homeowner confidence rose 3.3 points from last year to 70.6.

The upgraded portal is designed to seamlessly connect correspondent lenders to multiple, qualified affiliated lending institutions in a simplified process to enhance loan originations and accelerate the appraisal process. The re-tooling of the portal-ordering platform caters to client specifications and service types, origination vs. default, when an affiliated lender places an appraisal order on behalf of a correspondent lender within the system.

The “Appraisal Findings Report,” which is available through Message Manager, will be updated in April to include the CU feedback. The report, which is available to Fannie Mae sellers and services, covers appraisals submitted to the UCPD in the prior month and is generally available on the fifth business day of each month. The new report will replace three separate reports Fannie Mae currently provides by combining that information into one file.

The bill includes a report provision, which will delay the implementation of the NCUA’s proposed risk-based capital regulation as it relates to mortgage servicing assets until an impact study is conducted. The NAFCU says this will promote transparency, require a thorough analysis of the proposal’s impact on mortgage servicing assets, and encourage the NCUA to take more time to consider the full impact of its proposed capital rule.