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GDP Growth Called "Transitory" While Low Inflation...

Is the Trade Dispute Dampening Home Purchase Activity?

Home Sales Stall; Sellers Need to be Realistic

Fueled by Low Rates, Prepayment Rate Continues to Rise

New Data Prompts Freddie Mac to Upgrade Their Forecast

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Mortgage Rates Catch a Break

MBS Day Ahead: Bonds Waving Long Goodbye to Trend, Hoping For...

LO, AE Jobs; Broker and Warehouse Products; Conventional Conforming...

MBS RECAP: Bonds Make Good on Threats of Weakness

Mortgage Rates Bounce Back

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Is Trade Hurting Housing? Transitory Growth and Permanently Low Inflation?

Published: 5/22/2019

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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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Condo Mortgage Business - Poised for a Breakout

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by Jann Swanson on May 09 2019, 11:33 AM

Condominium loans represent only about 8 percent of total mortgages, a share that has remain fairly stable for several years. However, CoreLogic says they are poised to play a much larger role. Jacqueline Doty, writing in the company's Insights blog,...
Lower Rates Boost Jumbo Credit Access

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by Jann Swanson on May 09 2019, 9:44 AM

A big jump in jumbo loan lending drove an increase in mortgage credit availability in April. The Mortgage Bankers Association's Mortgage Credit Availability Index (MCAI) rose 2.1 percent in April to 186.1. An increase in the index indicates that lending...
VA Subpoenas Multiple Lenders

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by Jann Swanson on May 08 2019, 4:28 PM

Just days after Ginnie Mae issued a Request for Input seeking advice on ways to tighten its regulations in regard to VA loans, it appears the government is taking stronger action. Ginnie Mae was pointing to higher than acceptable prepayment rates among...
How are new Borrowers Managing to Come up With Down Payments?

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by Jann Swanson on May 08 2019, 11:11 AM

Freddie Mac periodically looks at how and from where homebuyers are managing to acquire their down payments and they did so , particularly first-timers. This week, as the focus of an Insights report, the company says it continues to find that part of...
Lower Rates aren't Helping Homebuying Attitudes

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by Jann Swanson on May 07 2019, 1:01 PM

Even though mortgages rates have declined over the last several months, consumers remain bearish about buying a home. Fannie Mae said net positive responses to the question about whether it is a good time to buy more than reversed a 7-point increase in...
Freddie Mac is "Reimagining" Servicing to Benefit the Customer

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by Jann Swanson on May 07 2019, 11:37 AM

Freddie Mac is undertaking a new initiative designed to align the servicing process to a more customer service focus, especially for distressed homeowners. Yvette Gilmore, Freddie Mac's Vice President of Single-Family Servicer Performance Management,...
Mortgage Application Activity Breaks Out of Slump

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by Jann Swanson on May 08 2019, 5:30 AM

After four straight weeks of declines, mortgage application activity finally gained ground during the week ended May 3. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, rose 2.7 percent on a seasonally...
Home Prices Grow by 3.7% in March, Expected to Pick Up

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by Jann Swanson on May 07 2019, 10:16 AM

Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent...
Prepayment Rate Surges; Servicers Drop Ball on Retaining Customers

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by Jann Swanson on May 05 2019, 2:22 PM

Prepayment rates historically tend to increase in the spring, but this year they have been exceptionally high. The rate has risen during March in 18 of the past 19 years with an average gain of 21 percent. In its March Mortgage Monitor Black Knight says...
Ginnie Mae Seeks Input on Moderating VA Prepays

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by Jann Swanson on May 03 2019, 12:32 PM

Ginnie Mae has issued a formal request for input regarding changes to its II Multi-Issuer Program (GII MIP). That program represents almost a third of the mortgage-backed securities (MBS) issued by the agency. The program uses an aggregation of loans...
Strong Fannie/Freddie Earnings Mean Another $4.1 Billion for Taxpayers

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by Jann Swanson on May 02 2019, 12:01 PM

The government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac released their first quarter financial results on Wednesday. Both had slightly lower net income results for the year while only Freddie Mac reported higher income compared to the previous...
Residential Construction Spending Falling Behind 2018

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by Jann Swanson on May 01 2019, 11:59 AM

Publicly and privately funded construction put in place in March had an estimated value of $1.282 trillion on a seasonally adjusted annual basis. This is up 0.9 percent from the February total of $1.293 trillion but is down 0.8 percent from March 2018...
Non-QM, 1st Time Homebuyer Program Training; Lender Cost/Pricing Changes

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by Rob Chrisman on May 01 2019, 7:12 AM

Why don't you ever see the headline, “Psychic Wins Lottery?” Some people believe that economists have the ability to predict rates, bookmakers have the ability to predict winners and losers, and meteorologists can predict the weather. Remember...
Rates Dropped Last Week, but Application Volumes Fell as Well

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by Jann Swanson on May 01 2019, 4:07 AM

Despite a decline in interest rates, mortgage volume took a significant hit during the week ended April 26. The Mortgage Bankers Association (MBA) reported that its Market Composite Index and all of its week-over-week components fell, some for the fourth...
Rates Expected to Hold Through 2020, Spurring Originations

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by Jann Swanson on April 30 2019, 12:15 PM

Freddie Mac's April economic forecast focuses on interest rates and their impact on housing as the company's Economic & Housing Research Group revises several of its earlier predictions. The report notes that mortgage interest rates, which started...

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