A controversial bill that would extend an increase on guarantee fees (g-fees) on mortgages backed by the GSEs or the Federal Housing Administration (FHA) has passed in the House of Representatives. The bill, H.R. 6429 (STEM Jobs Act of 2012), proposes reforms for immigrant visas offered to immigrants who possess advanced training in science, technology, engineering, or mathematics. A section added to the bill calls for a one-year extension of g-fee hikes to help pay for the program, changing the end date on the fee increases from October 2021 to October 2022.
Read More »HARP Refinances Continue Climb Under Revised Program
Fannie Mae and Freddie Mac refinanced more than 90,000 mortgages through the Home Affordable Refinance Program (HARP) in September.
Read More »Capital Economics: Recovery is ‘The Real Deal’
The ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say.
Read More »As Fiscal Cliff Negotiations Drag On, Mortgage Rates Settle In
Fixed mortgage rates showed little signs of life in the last full week of November, hovering near record lows as markets show increased worry about the fiscal cliff.
Read More »FHFA Reports Modest Price Growth in September
The Federal Housing Finance Agency's monthly Home Price Index showed prices continued to inch up in September, climbing 0.2 percent from the prior month. September marks the eighth consecutive month in which prices have increased. However, even with consistent price gains, "a number of factors continue to affect the recovery in home prices such as stagnant income growth, high unemployment levels, lingering uncertainty about the macroeconomy, and the large number of homes in the foreclosure pipeline."
Read More »UBS Tries Again to Block FHFA Lawsuit
After losing a previous bid earlier this year, UBS is making another attempt to shut down a lawsuit from the Federal Housing Finance Agency.
Read More »Fixed Rates Find New Lows for Second Week in a Row
Amid increases in new construction, homebuilder confidence, and existing home sales, Freddie Mac reported fixed mortgage rates reaching new record lows for the second week in a row. The average 30-year fixed-rate mortgage rate fell to 3.31 percent (0.7 point) over the week ending November 21. The 15-year fixed-rate mortgage also experienced a decline this week, falling from 2.65 percent to 2.63 percent (0.7 point), according to Freddie Mac's data.
Read More »Report: Q3 Sees Boosted Gains on Sales, Elevated Buyback Requests
Banks continued to enjoy boosted earnings in the third quarter from increasingly strong gain-on-sale (GOS) margins.
Read More »Freddie Mac: More than 95% of Q3 Refinancers Choose Fixed-Rate Loans
More than 95 percent of borrowers who refinanced in this year's third quarter selected a fixed-rate loan, according to data from Freddie Mac.
Read More »Fitch Gives Freddie Mac Initial CMBS Special Servicer Rating
Fitch Ratings recognized the strength of Freddie Mac's multifamily business, giving the GSE an initial CMBS special servicer rating of CSS2.
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