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Economists calculate that the decline in home prices has cost American homeowners approximately $7 trillion in home equity. Compounding this problem is the fact that the inventory of homes available for sale remains high and there is potential for a significant volume of “shadow inventory”...
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Have a bright idea about how the government can best liquidate the current huge inventory of owned real estate (REO) currently held by FHA, Fannie Mae and Freddie Mac? Here is your chance to be heard. The Federal Housing Finance Agency (FHFA), the conservator of the two government sponsored enterprises...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending July 29, 2011. Excerpts from the Release... The Market Composite Index, a measure of mortgage loan application volume, increased 7.1 percent on a seasonally adjusted basis from one week...
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The Federal Housing Administration's (FHA's) Mortgagee Review Board (MRB) has posted the results of formal actions taken against 240 lenders for failure to meet FHA requirements. The current notice, posted in The Federal Register , is a summary of MRB actions taken as far back as October 2009. A total...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending July 22, 2011. Last week the MBA reported a 23.1 percent increase in the number of refinance applications taken during the week of June 15th. This was the largest jump since January 2010...
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By Brian Montgomery, former FHA Commissioner and Vice Chairman, The Collingwood Group and Karen Garner Wing, Special Advisor to The Collingwood Group and former HUD Quality Assurance Division Manager According to recent news stories, the HUD Office of Inspector General has put several lenders on notice...
Posted to
Voice of Housing
by
Brian Montgomery
on
Tue, Jun 28 2011
Filed under:
Filed under: fha, hud, Mortgagee Review Board, QAD, OIGA, Enforcement, MRB, Quality Assurance Division, Lender Oversight, Office of Inspector General for Audit
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While they aren't a new concept, the second issue of the HUD publication Evidence Matters highlights the growing importance of multibank efforts in financing affordable housing developments. This "consortia" of private banks share the risk, reduce the cost of lending, and pool together their expertise...
Posted to
MND NewsWire
by
Jann Swanson
on
Mon, Jun 27 2011
Filed under:
Filed under: FHA, remodeling, rental housing, community reinvestment act, CRA, leading indicator, 203(k), Low Income Housing Tax Credit, NOAH, LIHTC, Consortia
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending June 17, 2011. Although mortgage rates have rallied back to levels just above their all-time lows, home loan demand has largely failed to react to it. The MBA did report a nice uptick in...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending June 7, 2011. The Refinance Index ticked up noticeably in the last week, from 2475 to 2883, the highest reading since November 2010. This is bittersweet as it finally showed some linear...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey* for the week ending June 3, 2011. The Refinance index seems to be stuck around the 2500 level, having risen about 500 points during the 2 month interest rate rally. The last two times mortgage rates were this...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 27, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 20, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives...
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Almost every American is a renter at some point in his life but today both economic conditions and demographic forces are increasing rental demand , reversing trends that have prevailed from the mid-1990s. Harvard's Joint Center on Housing Studies has just issued a report on the state of rental housing...
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Builders who specialize in home remodeling are seeing a better market than they have in years according to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) released on Friday. The index rose to 46.5 in the first quarter of the year from 41.5 in the fourth quarter of 2010...
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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 15, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives...