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Biden Nominates Two Picks for Important Financial Positions

Improvements in Forbearance Continue to Slow

Freddie Sees Mortgage Originations Contracting Nearly 20% in...

Post-2008 Standardized Practices Have Helped Manage Forbearances

Refi Applications Highest Since March

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MBS Week Ahead: After Last Week's Defensive Stand, What's...

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The Real Story Behind The Past 2 Weeks of Mortgage Rate Volatility

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Real Story Behind Rate Volatility; Slower Forbearance Improvement; Origination Forecast

Published: 1/15/2021

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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 Looking to Lock-In Fannie/Freddie Liquidity Rules

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by Jann Swanson on December 17 2020, 1:20 PM

In November, the Federal Housing Finance Agency (FHFA) released a new regulatory capital framework for Fannie Mae and Freddie Mac (the GSEs). At the time FHFA said the final rule fulfills Congress's mandate in the Housing and Economic Recovery Act of...
Housing Permits and Starts Show no Signs of Slowing Down

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by Jann Swanson on December 17 2020, 9:50 AM

While housing completions were down, residential construction improved again in November . Permitting was especially strong with a 6.2 percent month-over-month increase. The U.S. Census Bureau and Department of Housing and Urban Development reported that...
Yes, The AVERAGE Loan is Taking Almost 2 Months to Close

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by Jann Swanson on December 17 2020, 7:08 AM

According to Ellie Mae's Origination Insight Report, loans closed during November had an average note rate of 2.97 percent. The 30-year note rate for FHA and Conventional loans dropped below the three percent mark for the first time , averaging 2.99 percent...
Builder Confidence Pulls Back from Record Levels

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by Jann Swanson on December 16 2020, 10:29 AM

After setting successive survey highs in September, October, and November, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) retreated a bit this month. The HMI, which is a measure of home builder confidence in the...
Mortgage Application Volume Holds Steady as Rates Test Lows

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by Jann Swanson on December 16 2020, 9:59 AM

Mortgage application volume was relatively flat as the nation eased into the holiday season. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 1.1 percent on a seasonally adjusted basis during the week...
New Home Sales Declined in November as Economic Recovery Slows

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by Jann Swanson on December 16 2020, 9:21 AM

The Mortgage Bankers Association (MBA) says applications for new home purchases suffered a significant downturn in November but remain well above the level of activity at the same time in 2019. MBA's Builder Application Survey (BAS) shows a 16 percent...
Upgraded Economic Outlook, But is Stellar Housing Sustainable?

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by Jann Swanson on December 15 2020, 2:19 PM

A recent spate of positive news has allowed Fannie Mae to upgrade several pieces of its economic forecast this month. The approval of at least one COVID-19 vaccine, new hope for additional stimulus approval, and stronger than expected incoming data has...
Realtor Survey Shows Promise: Post-Pandemic Recovery Will Continue

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by Jann Swanson on December 14 2020, 9:13 AM

Twenty-three housing and economic experts have told the National Association of Realtors® (NAR) they expect the post-pandemic economic rebound to continue , with improving job conditions and stable interest rates in 2021. NAR's chief economist Lawrence...
Lender Sentiment Wanes Along With Housing Demand

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by Jann Swanson on December 14 2020, 10:48 AM

Fannie Mae's Q4 Mortgage Lender Sentiment Survey (MLSS) found lenders lowering their expectations for profits over the next three months . Only 19 percent of those responding to the survey think their profit margins will increase, one-third expect no...
80% Annual Decline in Foreclosures Show Prevention Measures are Working

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by Jann Swanson on December 11 2020, 10:32 AM

The various types of foreclosure filings - default notices, scheduled auctions, and actual lender repossessions - declined in November. RealtyTrac, a subsidiary of ATTOM Data Solutions said the aggregate of these legal actions totaled 10,042 during the...
Forbearance Numbers are Trending Higher

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by Jann Swanson on December 11 2020, 9:46 AM

While the number of mortgages in forbearance saw some week-over-week improvement during the most recent reporting period, the overall trend is not good. Black Knight said there was a decline of 12,000 loans in active plans during the week ended December...
Home Equity Grew $1T This Year, Breaking Six-Year Records

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by Jann Swanson on December 10 2020, 9:07 AM

Homeowner equity rose again in the third quarter of 2020, reaching the highest total in over six years. CoreLogic's quarterly report on that asset says that those homeowners with mortgages, about 63 percent of the total, saw their equity grow by 10.8...
Credit Standards Finally Ease Up in November

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by Jann Swanson on December 09 2020, 9:22 AM

The Mortgage Bankers Association (MBA) said access to mortgage credit improved in November for the first time in several months but is still only about two thirds of its pre-pandemic levels. MBA's Mortgage Credit Availability Index (MCAI) gained 0.7 percent...
Refi Applications Surge as Mortgage Rates Test New Lows

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by Jann Swanson on December 09 2020, 7:13 AM

A decline in purchase applications pulled overall volume lower during the week ended December 4. The Mortgage Bankers Association said its Market Composite Index declined 1.2 percent on a seasonally adjusted basis but was up 40 percent on an unadjusted...
Buyers and Sellers Divided as Pandemic Wears Down Housing Expectations

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by Jann Swanson on December 08 2020, 10:37 AM

After climbing for three straight months Fannie Mae's Home Purchase Sentiment Index (HPSI) stalled in November , declining 1.7 points to 80.0. The index based on six questions from the National Housing Survey, was 11.5 points lower than in November 2019...

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