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Daily Dose

Florida’s Consumer Sentiment Sits Tight

A new report released Tuesday by the Wells Fargo Economics Group noted that consumer sentiment in Florida remained at 78 for the second straight month. Although consumers in the nation as a whole lost some confidence in February, the Florida Consumer Sentiment Index showed citizens of the Sunshine State remained steady.

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More Local Markets Experiencing Full Recovery

Homes.com has released its December Local Market Index, a price performance summary of repeat sales of U.S. properties. The index notes year-over-year gains for single-family properties in all 300 top U.S markets for the ninth consecutive month. The total markets that are considered "fully recovered" have increased to 89, up from the previous month’s 87.

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Freddie Mac Reports Mortgage Portfolio Decrease

Freddie Mac released its Monthly Volume Summary for January, 2014, noting their total mortgage portfolio decreased at an annualized rate of 1.9 percent in January. Despite a slight uptick in December, 2013, Freddie Mac’s ending balance has been declining since June, 2013.

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Is the Strongest Part of the Housing Recovery Over?

Real Estate Market

Although 2013 was the strongest year for home prices in nearly a decade, is a slowdown on the horizon for 2014? The S&P Dow Jones Indices released Tuesday its S&P/Case-Shiller Home Price Indices, which had some interesting revelations for the housing market in the future.

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Qualified Mortgage Guidelines Haven’t Lowered Risk

A new report by the American Enterprise Institute (AEI) says mortgage risk remains unaffected by the Consumer Financial Protection Bureau’s (CFPB) qualified mortgage (QM) guidelines. The group’s National Mortgage Risk Index (NMRI), a measure of loan performance under stressful economic conditions, increased to a reading of 11.8 percent in January from 10.6 percent at the end of 2013.

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Black Knight’s Home Price Index Shows Increase

The Data & Analytics division of Black Knight Financial Services released on Monday its latest Home Price Index (HPI), noting an increase of .1 percent in home prices to $232,000 for the month of December. The figure represents the price of non-distressed sales by taking into account price discounts for real estate owned (REO) and short sales.

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New Regulations for Fannie Mae and Freddie Mac

Per new regulations finalized last week, the GSEs will be required to file suspicious activity reports (SARs) directly with the Financial Crimes Enforcement Network (FinCEN) rather than through their own regulator. Developed in coordination with the Federal Housing Finance Agency (FHFA), FinCEN’s final rule is intended to provide law enforcement and regulators with a more complete picture of mortgage fraud.

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CFPB Orders Payout for RESPA Violations

HELOC

The Consumer Financial Protection Bureau (CFPB) ordered 1st Alliance Lending, LLC (First Alliance) to pay an $83,000 civil money penalty for violating federal law. The company illegally split real estate settlement fees, leading to the CFPB ordered payout. First Reliance self-reported the violations to the Bureau, admitted liability, and provided information related to other actors that helped facilitate other investigations.

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Fannie Mae Mortgage Yields Rise

Fannie Mae released its weekly yield for February 17, through February, 21. For 15-year, fixed-rate mortgages, the current market yield is noted was 2.970, up from the previous weeks figure of 2.870. The 15-year mortgage has increased from 2.310 a year ago. The Fannie Mae release comments that all yields are quoted on a net basis, and servicing fees are not included.

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