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New Home Purchase Applications Dwindle in MBA's Latest Builder...

Delinquency Improvements Expected to Slow

FHA's QM Final Rule - Fortunately no Surprises; 3 C's...

Foreclosure Crisis Enters 9th Inning; Outcome All But Guaranteed...

HUD QM Rule Announced; Closely Mirrors CFPB QM

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MBS MID-DAY: Weaker After Morning Data, but MBS Outperforming

The Day Ahead: First Significant Econ Data and Last Treasury...

Mortgage Rates End 3-Day Winning Streak

MBS RECAP: Paradoxical Rally Finally Reverses

MBS MID-DAY: Holding Surprisingly Steady Ahead of Auction

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Mortgage Rates End 3-Day Streak; Mortgage Applications End 6-Week Streak; HUD Announces QM Rule; Watt Confirmed as Housing Agency Head

Published: 12/11/2013

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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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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...
Holiday Takes Toll on Mortgage Applications

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by Jann Swanson on December 04 2013, 7:58 AM

It was a short week and one in which most Americans focused on food and families so the plunging number of mortgage applications filed during the week ended November 29 was not a surprise. The Mortgage Bankers Association (MBA) reported a 12.8 percent...
Home Price Gains Continue to Slow

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by Jann Swanson on December 03 2013, 10:28 AM

CoreLogic said today that month-over-month increases in home prices slowed to fractional numbers in October even as year-over-year increases continued for the 20 th consecutive month. The company's Home Price Index (HPI) which includes both equity and...
Fannie and Freddie Overhaul Mortgage Insurance Master Policy Requirements

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by Jann Swanson on December 02 2013, 12:22 PM

Fannie Mae and Freddie Mac have completed a major overhaul of their master policy requirements for private mortgage insurance the Federal Housing Finance Agency (FHFA) announced today. The changes meet one of FHFA's 2013 Conservatorship Scorecard goals...
Residential Construction Spending Ends Summer on Flat Note

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by Jann Swanson on December 02 2013, 11:51 AM

The Census Bureau released a combined report on the Value of Construction Put in Place for both September and October on Monday. A full September report was not issued either now or when scheduled in October because of the government shutdown. Total construction...
Bank of America, Freddie Mac Settle Repurchase Claim

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by Jann Swanson on December 02 2013, 9:31 AM

Bank of America has settled another claim for loans it either originated during the housing boom or acquired through its purchase of another lender. The latest in the series of settlements was announced today by Freddie Mac and will cost the Bank $404...
FHFA Says Significant Progress Made toward Strategic GSE Goals

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by Jann Swanson on November 26 2013, 12:30 PM

The Federal Housing Finance Agency (FHFA) recently released its 2013 Conservatorship Scorecard detailing the progress made by the government sponsored agencies (GSEs) Freddie Mac and Fannie Mae in meeting the strategic goals set for them so far this year...
Short Sales Becoming Less Favorable For Lenders

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by Jann Swanson on November 25 2013, 6:27 PM

RealtyTrac reports that the nature of distressed property sales is evolving. In its most recent report on market and distressed sales, the company noted that changing economics are increasing the reliance on more traditional third party purchases at foreclosure...
CFPB's Take on Affiliate Fees, Loans Under $100k, and Several Other Recent Announcements

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by Rob Chrisman on November 29 2013, 7:53 AM

We have 28 business days until QM is the law of the land, and even after this commentary discussed the CFPB’s policy there still seems to be a small amount of confusion out there about affiliate fees, and the 3% threshold . Paul Mondor did acknowledge...

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