The uncertainty surrounding the highly anticipated interest rate hike has kept the industry on its toes about just when the Federal Open Market Committee will raise rates, but New York Fed President William Dudley has recently reversed his initial forecast for the increase, presenting even more skepticism.
Read More »Credit Access Affected by Diminishing Private-Label Securities Market
Today, the GSEs and Ginnie Mae are the only companies securitizing loans in large numbers. The GSEs typically attract high quality, less risky loans within their limits, while Ginnie Mae mostly caters to minorities and first-time buyers.
Read More »Clayton Holdings Acquires ValuAmerica
Provider of loan due diligence, surveillance, REO management, valuations, and consulting services to the mortgage and real estate industries, Clayton Holdings LLC, recently announced its newest acquisition: ValuAmerica, Inc., a Pittsburgh-based, national title agency, appraisal management company, and technology provider.
Read More »GSEs Issue Updates to Mortgage Repurchase Guidelines
The new policies, sent in a letter to sellers and servicers, are expected it go into effect January 1, 2016, at the direction of the Federal Housing Finance Agency (FHFA).
Read More »House Passes Bipartisan Bill to Provide Formal TRID Grace Period
The Homebuyers Assistance Act (H.R. 3192), provides the mortgage industry with a grace period through February 1, 2016 by protecting them from enforcement actions if they make a good faith effort to comply with the TRID regulation. The Act passed through the House Financial Services Committee last week. The White House attempted to veto the Homebuyers Assistance Act on Tuesday, according to a Statement of Administrative Policy.
Read More »Housing Market Sentiment Rises to Near-Record High
The index showed that four of the six components questioned posted net positive gains. The Good Time to Sell component increased 13 points in September compared to the prior month, with 52 percent indicating that it was a good time to sell, up five percentage points from last month.
Read More »Stewart Unveils Refined Brand to Support Strategic Growth Initiatives
Stewart Information Services Corp. recently announced the launch of a refined brand to support the company’s strategic growth plans and efforts to communicate its focus on operating in the true spirit of partnership.
Read More »Bipartisan Discussion Highlights GSE Reform, Risk Transfer, Need for More Private Capital
The event highlighted GSE reform and conservatorship, the need for more private capital in the financial system and to transfer risk away from taxpayers and GSEs, focusing on risk sharing, specifically “front-end,” which makes housing finance more sustainable.
Read More »Fannie Mae, Freddie Mac Combined Income Spikes in Q2
REO inventory for the GSEs totaled about 88,000 at the end of Q2, a decline of 14 percent from the end of Q1 (about 102,000) and 34 percent from the end of Q2 2014 (134,000), according to FHFA.
Read More »House of Representatives to Vote on Bill to Make TRID Grace Period Official
House Majority Leader Kevin McCarthy recently released a statement announcing that the House will vote on the Homebuyers Assistance Act next week for those putting forth effort to comply with TRID.
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