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FHFA Tries to Convince Senate that GSE Risks Outweigh Massive...

Mortgage Credit Availability Tightens as Higher LTV Options Expire

Nitty Gritty Details on GSE's Expected Fee Hike and State...

Some Mortgage Servicers Need Improvement -Housing Scorecard

Home Price Expectations Continue to Decline

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Mortgage Rates Down to December Lows; Adverse Market Fee Gone for all but 4 States; G-Fee Hike

Published: 12/10/2013

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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FHFA Tries to Convince Senate that GSE Risks Outweigh Massive Profits

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by Jann Swanson on December 10 2013, 11:22 AM

Wanda DeLeo, Deputy Director of the Conservatorship Division of the Federal Housing Finance Agency (FHFA) told a Senate Banking Committee hearing that the new profitability of Freddie Mac and Fannie Mae (the GSEs) "should not blind us to the very real...
Mortgage Credit Availability Tightens as Higher LTV Options Expire

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by Jann Swanson on December 10 2013, 9:57 AM

Mortgage credit was slightly less available in November than it was in October the Mortgage Bankers Association said today. MBA's new Mortgage Credit Availability Index (MCAI) slipped from 111.5 to 110.2, a -1.2 percent change. Any decrease in the index...
Nitty Gritty Details on GSE's Expected Fee Hike and State-Level Changes

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by Matthew Graham on December 09 2013, 7:56 PM

As part of the Strategic Plan for the conservatorships, FHFA announced another installment of increased Guarantee fees ("G-Fee") for Fannie Mae and Freddie Mac today. Given the time that has transpired since the last G-Fee hike (over a year) in conjunction...
Some Mortgage Servicers Need Improvement -Housing Scorecard

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by Jann Swanson on December 09 2013, 4:37 PM

The Departments of Housing and Urban Development and Treasury issued their joint Housing Scorecard on Monday. The Scorecard summarizes information on home sales, mortgage originations, delinquencies and foreclosures, home prices, loan modifications, and...
Home Price Expectations Continue to Decline

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by Jann Swanson on December 09 2013, 12:28 PM

Responses to the most recent National Housing Survey conducted by Fannie Mae show Americans continue to be cautious in their appraisals of the housing recovery and of their own financial outlook. Respondents appear to have recovered a little of their...
LPS Already Seeing Increased HELOC Problems; More to Come

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by Jann Swanson on December 09 2013, 11:27 AM

Lender Processing Services (LPS) Mortgage Monitor for October reports that 48 percent of outstanding second lien home equity lines of credit (HELOCs) were originated between 2004 and 2006 and the vast majority have draw periods of 10 years. Therefore...
Completed Foreclosures Down More Than 25 Percent in One Month

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by Jann Swanson on December 09 2013, 10:18 AM

Completed foreclosures dropped dramatically in October CoreLogic said today, falling to 48,000 for the month compared to 64,000 in September and 68,000 in October 2013. These were decreases of 25.6 percent and 30 percent respectively. A completed foreclosures...
FHA Lowers Loan Limits for 650 High Cost Areas

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by Jann Swanson on December 08 2013, 5:15 PM

The Department of Housing and Urban Development (HUD) announced late Friday that the maximum loan eligible for a Federal Housing Administration (FHA) guarantee will be reduced from 2013 levels in a number of areas of the country starting January 1. While...
Is Declining Share of Mortgage Market Among Big Banks Here to Stay?

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by Jann Swanson on December 06 2013, 10:52 AM

Too Big to Fail Banks and the financial consolidation that created them are hot topics. A famous chart from Mother Jones shows that the big four banks (Citi, JP Morgan Chase, Bank of America, and Wells Fargo) got that way by swallowing up 33 other large...
Small Markets Leading Way for 2014 Housing Recovery

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by Jann Swanson on December 05 2013, 1:27 PM

Smaller metropolitan areas appear to be leading the country in a return to normal levels of economic and housing activity the National Association of Home Builders (NAHB) said today. The associations Leading Markets Index, product in conjunction with...
MBA Sounds Battle Cry For Independent Mortgage Banks

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by Jann Swanson on December 05 2013, 12:26 PM

David H. Stevens, president & CEO of the Mortgage Bankers Association (MBA), said today that independently owned and operated mortgage bankers are the building blocks of MBA membership. Stevens, speaking to MBA's second annual Independent Mortgage...
Loan Profits Plummet with Declining Volume, Increased Compliance Cost

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by Jann Swanson on December 04 2013, 11:54 AM

Mortgage profits took a big hit in the third quarter of 2013, dropping by more than half of that reported in the second quarter. The Mortgage Bankers Association (MBA) said independent mortgage banks and mortgage subsidiaries of chartered banks reported...
Big Banks Post Substantial Settlement Compliance Errors

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by Jann Swanson on December 04 2013, 11:20 AM

Several of the banks involved in the February 2012 $25 billion settlement with state and federal government agencies " still have additional work to do in their efforts to fully comply" with its terms, Joseph A. Smith, Jr., the settlement's monitor said...
Foreclosures Skyrocketing for High-Priced Homes

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by Jann Swanson on December 04 2013, 12:23 PM

While the numbers are small - less than 200 homes - the incidence of foreclosure among ultra-high end homes has skyrocketed recently, even as the rate for more mundane homes has plunged. RealtyTrac said today that foreclosure activity on homes valued...
Biggest Monthly Advance for New Home Sales since 1980

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by Jann Swanson on December 04 2013, 10:39 AM

The U.S. Census Bureau and the Department of Housing and Urban Development released their joint report on new home sales in September and October . The regular September report was not issued in October due to the government shutdown. The data is included...

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