National Mortgage News

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Refuel the free market engines of housing affordability

Mon, 11/13/2017 - 08:14
So long as the current monetary regime survives, homeowners — present and potential — can expect higher average prices interspersed with wild rides up and down.

It's not a bubble: Las Vegas real estate rebound is solid

Mon, 11/13/2017 - 08:14
The numbers tantalize leery minds: Housing prices, population growth and job creation in Southern Nevada all rebounded from the Great Recession over the past few years.

Nearly 50% of the largest housing markets are overvalued

Mon, 11/13/2017 - 08:14
Home prices are up strongly both year-over-year and month-over-month, and nearly half of the nation's largest 50 markets are overvalued, according to CoreLogic.

Mortgage credit availability inches down as jumbo contracts

Fri, 11/10/2017 - 12:36
A slight decrease in the number of jumbo investor offerings contributed to lower consecutive-month credit availability in October, according to the Mortgage Bankers Association.

Application activity flat even though rates fell

Fri, 11/10/2017 - 12:36
Mortgage application activity was unchanged from one week earlier although rates came back down slightly from their four-month high, according to the Mortgage Bankers Association.

12 markets hit hardest by slashing the mortgage interest deduction

Fri, 11/10/2017 - 12:36
Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.

PHH's transformation continues to take a toll on the bottom line

Fri, 11/10/2017 - 12:36
PHH Corp.'s net loss grew in the third quarter as the company took a hit from the costs of its transformation to being a subservicer and portfolio retention originator.

Caesars turns to CMBS to fund exit from bankruptcy

Fri, 11/10/2017 - 09:31
A mortgage on the marquee Caesars Palace Las Vegas is being used as collateral for $1.6 billion of mortgage bonds; proceeds will be used to repay existing indebtedness.

Capital One to exit mortgage originations, cut 1,100 jobs

Fri, 11/10/2017 - 09:31
Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable.

FHA losing customers rapidly as premiums spur refinancing

Fri, 11/10/2017 - 09:31
More FHA homeowners than expected are refinancing out of the program and into conventional mortgages, despite an increase in mortgage rates over the past year.

Distressed home sales falling in Sarasota-Manatee region

Fri, 11/10/2017 - 09:31
Distressed home sales in the North Port-Sarasota-Bradenton, Fla., metropolitan area during the third quarter accounted for 11% of the residential real estate market.

Oahu home prices creep higher

Fri, 11/10/2017 - 09:31
Oahu's housing market stayed on track to set a sixth consecutive price record as the latest tally of home sales showed slight gains for prices in October.

Meet the startups fighting Bay Area's soaring housing costs

Fri, 11/10/2017 - 09:31
An emerging group of local entrepreneurs is taking up arms against the sky-high cost of living in the Bay Area, hoping to end once and for all the housing crisis crippling the region.

Housing still more affordable than long-term benchmarks

Fri, 11/10/2017 - 09:31
Despite continued growth in national home prices, housing remains more affordable today than long-term benchmarks, according to Black Knight.

Optimism about housing market dampened by end of buying season

Thu, 11/09/2017 - 15:06
With the end of the summer home buying season, consumers were less optimistic that it was a good time to purchase or sell a home in October.

What to do with unprofitable branches? Donate them and get CRA credit

Thu, 11/09/2017 - 12:04
Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.

Freddie Mac warns lenders about selling system outage

Thu, 11/09/2017 - 12:04
Lenders selling loans through Freddie Mac's system experienced access difficulties Monday afternoon, when the government-sponsored enterprise sent out an alert to lenders about the problem.

Former Banc of California chief resurfaces with new financial firm

Thu, 11/09/2017 - 09:02
Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.

Sluggish construction continues to hold back housing market

Thu, 11/09/2017 - 09:02
As employment and home prices reach and surpass previous levels of normal economic and housing activity, building permits continued holding markets back from hitting historic norms during the third quarter, according to the National Association of Home Builders.

FHA serious delinquency rate shows signs of bottoming out

Thu, 11/09/2017 - 09:02
Serious delinquencies on Federal Housing Administration loans popular among first-time home buyers with affordability constraints have improved this year, but may be reaching a plateau.