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The Urban Institute (UI) has looked at a final mortgage rule issued by the Consumer Financial Protection Bureau (CFPB) in late 2020 which would provide a 3-year pathway to safe harbor for loans that are a rebuttable presumption or nonqualified mortgage at origination. The study, by UI analysts Karan Kaul, Laurie Goodman, and Jun Zhu found that loan performance during the first three years of the mortgage term is a better predictor of subsequent loan performance than the rate spread. The rule requires that both rebuttable presumption and nonqualified conventional first-lien mortgages can be deemed safe harbor 36 months after origination if they are held on the originator's balance sheet. They may also be sold once and then held as a whole loan on the buyer's balance sheet for the entire three
Housing News
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The Urban Institute (UI) has looked at a final mortgage rule issued by the Consumer Financial Protection Bureau (CFPB) in late 2020 which would provide a 3-year pathway to safe harbor for loans that are a rebuttable presumption or nonqualified mortga... (read more)
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Rob Chrisman
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Okay boys and girls, besides it being a snow day in the Northeast, and Groundhog Day and Punxsutawney Phil's 135th prognostication, here is today’s short video math lesson: Snow+Pandas=Fun . Continuing with the four-legged theme, Chrisman LLC w... (read more)
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Housing News
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Public and privately funded construction spending ended 2020 with a 4.7 percent increase over spending in 2019. The U.S. Census Bureau said the combined outlays for the recent year was $1.430 trillion compared to 1.365 trillion the prior year. Reside... (read more)
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Mortgage Rate Watch
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Mortgage Rates did well last week, with the average lender getting very close to long-term lows by Wednesday. After that, however, volatility in the bond market caused some concern about an unfriendly shift in rate momentum. Today's trading helps soo... (read more)
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MBS Commentary
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Mid-Day Recovery, But Broader Risks Remain
Bonds did well enough yesterday to suggest yields might not be interested in moving back to the higher end of their recent trading range. Today's early weaknes... (read more)
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Housing News
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The current Mortgage Monitor from Black Knight looks at the recent small increases in mortgage rates and their potential impact on home sales. The company says that Treasury yields have been rising with the 10-year up nearly 0.25 percent just since t... (read more)
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