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Increasing home prices are at the heart of a decision by the major federal regulatory agencies to raise the threshold for requiring a residential real estate appraisal for mortgages originated by their regulated institutions. When the rule become effective, mortgages on 1 to 4 family homes sold for $400,000 or less may be exempt from an appraisal; the current level is $250,000. It will be the first change in the threshold in a quarter century. The new rule, declared by the Federal Deposit Insurance Corporation (FDIC), Office of Comptroller of the Currency (OCC), and the Federal Reserve (Fed), has been published in final form but apparently has not yet received the requisite signatures from the Fed. The agencies say the Consumer Financial Protection Bureau was involved in developing the proposal
Housing News
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Increasing home prices are at the heart of a decision by the major federal regulatory agencies to raise the threshold for requiring a residential real estate appraisal for mortgages originated by their regulated institutions. When the rule become eff... (read more)
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Mortgage Rate Watch
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Mortgage rates are sort of all over the place at the moment, and almost never where you'd expect. Those who haven't been following the bond market too closely generally expect higher rates than what we've been seeing recently. Those who are well-vers... (read more)
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Rob Chrisman
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“My credit score is low but its low because I want to protect myself from identity theft. No one can take out a mortgage in my name if I can’t even take out a mortgage in my own name.” Would you give the United States a mortgage? Or... (read more)
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MBS Commentary
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In the week just passed, the bond market set out to digest and react to the Federal Reserve only to end up finding much bigger inspiration. Wednesday's FOMC Minutes were never too incredibly likely to inspire much volatility, and they stayed tr... (read more)
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Housing News
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The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes fell 12.8 percent in July to a seasonally adjusted annual rate of 635,000 units. Forecasts pinned that number at 645k. While missing the ... (read more)
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Housing News
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With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferences for where and how they are going to live. Last year it conducted the fourth in a series of buyer... (read more)
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