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Existing Home Sales Distorted by Harvey

Mortgage Apps Tanked Last Week. Was it Rates' Fault?

Fraud Risk Continues Upward Trend

Building Permits Regain Footing, Housing Starts Still Struggling

Student Debt Undermining Millennial Homeownership

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Uniform Closing Dataset (UCD) Info; FINRA; Fed Announcement

MBS Day Ahead: Bonds Ready to Move Either Direction After The...

MBS RECAP: Bonds Reaffirm The September Correction

Rates Steady Near Recent Highs Ahead of Fed

FHA, VA Updates; Ginnie Mae Overview

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Rates Near Recent Highs Ahead of Fed; Fraud Risk Elevated; Building Permits Find Footing

Published: 9/19/2017

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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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Risk for Mortgage Fraud Increases Slightly - CoreLogic

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by Jann Swanson on August 07 2017, 8:15 AM

CoreLogic says conditions in the mortgage market are once again fertile ground for mortgage fraud . The company's National Fraud Risk Index hit a new high of 132 in the first quarter of this year versus 113 in the first quarter of 2016 and 122 in the...
Fannie and Freddie Echo FHFA's Conservatorship Concerns

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by Jann Swanson on August 04 2017, 11:23 AM

Fannie Mae and Freddie Mac (the GSEs, or "government-sponsored enterprises") were already well past having paid back taxpayer bailouts before this week's earnings releases. Freddie Mac has paid back $36.9 billion more than it drew from taxpayers and the...
Conflicting Views on Need for New Credit Scoring Models

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by Jann Swanson on August 03 2017, 1:07 PM

Within hours of each other Laurie Goodman, co-director of the Urban Institute's Housing Finance Policy Center, and Melvin Watt, Director of the Federal Housing Finance Agency, expressed quite different views on the need for an immediate change in the...
ARMs Drive Slight Improvement in Underwriting Standards -MBA

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by Jann Swanson on August 03 2017, 10:52 AM

While adjustable rate mortgages (ARMs) make up only a fraction of mortgage originations (just over 6 percent in the most recent Mortgage Bankers Association's (MBA's) volume summary), changes to some of their underwriting parameters were reflected in...
FHFA Director on Racial Divide in Homeownership and Reality of G-Fees

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by Jann Swanson on August 02 2017, 12:20 PM

Federal Housing Finance Agency Director Melvin L. Watt focused much of his speech to the National Association of Real Estate Brokers (NAREB) on its five-year goal of creating two million new Black homeowners. The numbers don't lie, Watt said. In 2004...
MBA Reform Proposal Will Have Little Impact on Consumer Costs

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by Jann Swanson on August 01 2017, 3:19 PM

In April, the Mortgage Bankers Association (MBA) published its proposal for reform of the housing finance system. This week Mike Fratantoni, MBA's Chief Economist and Senior Vice President of Research and Economics, weighed in on the potential implications...
NAHB Urges Passage of Bi-Partisan Affordable Housing Bill

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by Jann Swanson on August 02 2017, 8:33 AM

The National Association of Home Builders (NAHB) has strongly endorsed passage of a bill, recently introduced into the U.S. Senate which the trade group says would promote the construction of sorely needed rental apartments and help alleviate the nation...
Rates Mixed but Mortgage Apps Fall Across The Board

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by Jann Swanson on August 02 2017, 7:40 AM

The volume of mortgage applications declined during the week ended July 28. There were fewer applications for both purchase mortgages and refinancing than during the week ended July 21. The Mortgage Bankers Association (MBA) said its Market Composite...
Multifamily Sector Drags Down Construction Spending

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by Jann Swanson on August 01 2017, 11:53 AM

Construction spending, both public and private, dropped 1.3 percent in June . Spending was at a seasonally adjusted annual rate of $1.21 trillion compared to the May estimate of $1.22 trillion, an upward revision of 0.3 percent from the original number...
Inventories Pushing Home Prices Too High in 4 Metro Areas -CoreLogic

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by Jann Swanson on August 01 2017, 10:24 AM

Home prices chalked up another healthy gain in June . CoreLogic reports that its Home Price Index (HPI) marked a 6.7 percent increase compared to the June 2016. This was up from the 6.6 percent May-to-May change, but was still the second smallest annual...
June Pending Sales Increase the First in Four Months

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by Jann Swanson on July 31 2017, 11:35 AM

Pending home sales recovered from a three-month swoon in June, increasing 1.5 percent in June. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) rose to 110.2. NAR also revised the May PHSI up slightly, from 108...
Another Price Index Goes a Little Wobbly

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by Jann Swanson on July 31 2017, 7:33 AM

The last of the May's four home price indices (HPI) that MND tracks, the version supplied by Black Knight Financial Services, was released on Monday. Like the others, it shows accelerating price increases on a year-over-year basis, but indicated a small...
Millennial Homeownership Ticked Up in Q2

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by Jann Swanson on July 28 2017, 11:31 AM

The U.S. homeownership rate ticked up by 0.1 percentage point in the second quarter of 2017, to 63.7 percent. The rate, which trended down for several years prior to the Great Recession and then steadily thereafter, hit what is hoped will be its cyclical...
Freddie Mac: Why We are Building So Few Houses?

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by Jann Swanson on July 28 2017, 9:12 AM

Freddie Mac's Outlook this month looks at what it calls "the spoiler," the lean inventory of newly constructed homes for sale. While the situation isn't quite as dire as with existing homes, where there is a 4.3-month supply, the new home inventory is...
1% Down Payment Impossible After Freddie's Guideline Change

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by Jann Swanson on July 27 2017, 1:34 PM

Freddie Mac has announced a change in requirements for its Home Possible Mortgages, including Home Possible Advantage Mortgages. The changes involve lender gifts and grants , and will be effective for loans with settlement dates on and after November...

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