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A New CFPB Director? Perhaps That's Not the Intention

Housing Starts Rebounded in May, Permits Still Lag

Fannie Mae June Outlook Turns a Little Cautious

Builder Confidence: Tariffs on Lumber Hurting Affordability

Americans Sitting on Trillions in Tappable Equity

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MBS Day Ahead: Bonds Begin With a Bang

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Compliance and Construction Products; Legal Changes for Lenders...

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Builder Confidence: Tariffs on Lumber Hurting Affordability; Tons of Tappable Equity

Published: 6/18/2018

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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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A New CFPB Director? Perhaps That's Not the Intention

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by Jann Swanson on June 19 2018, 11:15 AM

The White House announced on Monday the nomination of Kathy Kraninger as head of the Consumer Financial Protection Bureau (CFPB) to replace acting director Mick Mulvaney. The appointment caught many in Washington by surprise as Kraninger is not widely...
Housing Starts Rebounded in May, Permits Still Lag

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by Jann Swanson on June 19 2018, 9:46 AM

Residential construction data was mixed for May as reported on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development. Housing starts recovered strongly from their April loss while permits continued lower. Housing starts...
Fannie Mae June Outlook Turns a Little Cautious

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by Jann Swanson on June 19 2018, 8:16 AM

Despite a slowing rate of economic growth in the second estimate for the first quarter, Fannie Mae's economists are holding firm in their forecast for the remainder of the year. The second preliminary estimate for the quarter was for growth of 2.2 percent...
Builder Confidence: Tariffs on Lumber Hurting Affordability

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by Jann Swanson on June 18 2018, 10:22 AM

Builder confidence in the market for new single-family homes ended a three-month slide in May , as the Housing Market Index ticked up two points. This month that two-point gain evaporated as the index slid back down to 68. The National Association of...
Americans Sitting on Trillions in Tappable Equity

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by Jann Swanson on June 17 2018, 10:52 AM

Americans are sitting on a nearly unprecedented level of untapped wealth - or maybe sitting IN it is more to the point. A report from Black Knight notes the first quarter of this year saw the "tappable" equity Americans have in their homes rose at what...
Sales to Slump as Costs Drive Builder Bottleneck

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by Jann Swanson on June 14 2018, 12:54 PM

The Mortgage Bankers Association (MBA) is projecting a decline in new home sales in May. Its computation is based on information from its Builder Application Survey (BAS) which collects information on mortgage applications for new home purchases from...
Lenders Remain Pessimistic about Demand, Profits

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by Jann Swanson on June 13 2018, 9:56 AM

Last week the Mortgage Bankers Association said that independent mortgage bankers had reported negative production revenue in the first quarter of this year. This week Fannie Mae reminded us that lenders have long expected it to happen. The company's...
Mortgage Application Volume Falls Back as Rates Rise

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by Jann Swanson on June 13 2018, 4:26 AM

The flurry of mortgage activity during the week ended June 1st didn't last long. Application volume resumed its months-long retreat last week as interest rates rose. The Mortgage Bankers Association said its Market Composite Index, a measure of volume...
Credit Availability Climbs to Three-Month High in May

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by Jann Swanson on June 12 2018, 11:35 AM

An increase availability of high balance loans helped drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) to a three-month high in May. MBA said the Index rose 1.5 percent to 180.6. An increase in the MCAI is indicative...
Record High Equity Thanks to Mortgage Credit Demographics

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by Jann Swanson on June 11 2018, 1:36 PM

As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB) Eye on Housing Blog, says that equity hit a new high in the first quarter...
Consumer Optimism Continues Despite Rising Home Prices

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by Jann Swanson on June 08 2018, 9:48 AM

Despite declining consumer confidence about buying a home, Fannie Mae's Home Purchase Sentiment Index® (HPSI) hit a second consecutive survey high in May. The Index, which distills some of the responses from the National Housing Survey, rose 0.6 points...
10 Years After Crisis, Mortgage Market Needs New Fixes

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by Jann Swanson on June 07 2018, 12:13 PM

Happy Anniversary - or something... It is a decade since the financial crisis and ultimately the Great Recession began. Bear Stearns collapsed in March of 2008, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, were placed in conservatorship...
After Long Search, MBA Finds New Leadership

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by Jann Swanson on June 07 2018, 11:14 AM

A nine-month search for a replacement for David H. Stevens as president and CEO of the Mortgage Bankers Association (MBA) ended today with the selection of Robert D. Broeksmit. Broeksmit is a Certified Mortgage Banker (CMB) and current president and chief...
Mortgage Banks in The Red For Q1

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by Jann Swanson on June 06 2018, 12:18 PM

The Mortgage Bankers Association (MBA) said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the data...
Fannie Introduces Manufactured Housing Changes, Updates Condo Policies

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by Jann Swanson on June 06 2018, 10:35 AM

A Selling Guide Announcement from Fannie Mae on Tuesday introduced a new initiative for loans secured by manufactured housing. The MH Advantage program is designed for those units that meet specific construction, architectural design, and energy efficiency...

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