Tag Archives: HOUSING

According to a new report, both 30-day delinquencies and 90-day delinquencies are down over the year, and foreclosure inventory has dropped. Only 5 percent of mortgages are 30 or more days delinquent, a dip from February 2016’s 5.5 percent. Loans 90 or more days delinquent are down too, falling from 2.8 percent to 2.2 percent year over year. The number of homes currently at some stage of the foreclosure process dropped from 1.1 percent to 0.8 percent.

The House of Representatives has amended HR 1694, extending the nine exemptions of the Freedom of Information Act to Fannie Mae and Freddie Mac. The amendment was sponsored by Rep. Hank Johnson (D-Georgia). Passed in April, HR 1694 requires the GSEs to adhere to the FOIA, something they've never had to do since entering conservatorship in 2008.

A new poll shows about half of non-homeowning Americans plan to buy a home in the next five years. Another 20 percent will buy in the next decade. Intent to purchase was highest with those between 35 and 54, as well as those located in the Southern U.S.

Americans by and large are confident in the housing market. But a new survey by ValueInsured shows some fissures in the foundation. Slowly and quietly, more Americans are having their doubts about buying a home this year.

Despite sluggish economic growth in Q1 and the widely held assumption that the Fed would raise rates at least two more times this year, the Federal Open Market Committee opted to keep the federal funds rate as is at its May meeting. Raised in March, the rate currently sits at 1 percent. The Committee cited job gains and lower unemployment as factors in its decision.

A new report suggests that business analysts play a vital role in lender success. But finding mortgage-savvy ones? That’s not always easy. Lenders should take action to develop BA candidates internally for best results. / According to a new report, business analysts are crucial to a lender’s success. But a “dearth” in the industry makes mortgage-savvy BA candidates hard to find. In most cases, developing BAs internally is the best course of action for a lender.

Amherst Capital Management LLC announced the addition of Damon Pitler to its private funds leadership team. Serving in the role of Managing Director of Private Funds, Pitler will manage single-family equity and commercial real estate lending portfolios at Amherst.

With just hours to spare, Congress overwhelmingly approved a short-term spending bill which would prevent the weekend shutdown, avoiding potential clogs in the mortgage industry. A government shutdown would have slowed the mortgage process and even prevented some buyers from closing, as access to tax information and social security would have been halted during the shutdown. The housing market is stronger now than it was in 2013, and application volume is greater, meaning that that more buyers could have been affected.

The average American renter can now purchase a home more expensive than the nation’s median home value, while keeping their monthly housing budget the same. This was true in 37 out of 50 markets analyzed. The current national median rent is $1,416 per month—just enough to handle the monthly costs of a property valued at $289,505, including property taxes, maintenance, and insurance payments.

Tight inventory and stiff competition for homes proved disruptive to pending sales in March, according to a new report by the National Association of Realtors. Pending sales activity dropped by nearly a percent since February. But overall activity is still soaring, and in most markets is up from where it was a year ago. Which might or might not be a good thing.