Grossinger's priority in his new position will be to continue to move the organization's established market-relevant housing strategies forward, while increasing its focus on markets that are still struggling to see a housing and economic recovery.
Read More »Freddie Mac Announces Hiring of New Chief Economist
Becketti brings extensive mortgage market research, modeling, and analytics experience to his new role at Freddie Mac, the GSE said. In his role as chief economist, he will be expected to lead a team that forecasts mortgage and housing market trends and conducts analysis and research on economic and policy issues affecting Freddie Mac.
Read More »Consumer Attitudes Toward Housing Improve Amid Positive Jobs Report
While job growth continues to push meaningful income growth, the outlook for housing market growth is also improving, the GSE says. Of those surveyed, the share of respondents who say home prices will go up in the next 12 months increased to 49 percent, while the share who say home prices will go down dropped to 6 percent.
Read More »Single-Family Rental Market Experiencing Shift Toward South and Midwest
Over the past two years, the SFR mortgage-backed securities market for single family rentals has grown rapidly, the CoStar reported. Institutional owners have brought 18 of these transactions to a total market value of $9.8 billion.
Read More »House, Senate Democrats Introduce Bill To Provide Regulatory Relief, Consumer Protection
New legislation will also allow banks and credit unions that have less than $10 billion in assets relief from the Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage rule, the committee members said. This will exempt certain loans from its requirements as long as these intuitions do not sell or securitize those loans.
Read More »Rating Criteria Published For State Housing Finance Agency MBS Pass-Through Bonds
For the government-sponsored enterprise guaranty rating, Fitch notes that the GSEs as a whole are the primary drivers of this rating’s unconditional guarantee of full and timely payment on the MBS that secures the bonds. Additionally, the performance of the underlying loans or MBS servicer is not factored into the rating on the bonds.
Read More »Aspen Grove Solutions Appoints New SVP of Business Development
In his new position, the company says that Briggs will support clients to ensure AGS delivers purpose fitting solutions in a timely and cost effective manner, that are easy to use and quick to implement with the assistance of his business development team.
Read More »Non-Depository Institutions Gaining Higher Share in Mortgage Market
Last year, in terms of dollar volume, non-banks accounted for over 40 percent of total originations, compared to 12 percent in 2010, the report says. Of the 40 largest servicers, 16 were non-banks, making up 20.5 percent of the market and 28 percent of outstanding top-40 servicing balances, compared to 8 percent in 2010.
Read More »HELOCs Nearing End-of-Draw Period Are At Risk of Delinquency
Since their 1.81 percent high in 2009, HELOC delinquencies are down to prerecession levels, the study shows. The percentage of HELOCs that are in late-stage delinquency, 90–180 days past due, are down to 0.5 percent which is a positive sign for the industry.
Read More »Pending Home Sales Rise to Highest Level in Nine Years
Yun expects a rebound heading into the summer, following April’s decline in existing-home sales, but the chance of significant gains will depend on an increase in inventory and evidence of moderating price growth now that interest rates have started to rise.
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