Daily Dose

Replacing J. Franklin Hall as CFO, Pandit will be responsible for Radian’s financial functions, reporting, planning and analysis, enterprise capital planning, investment portfolio management, and investor relations.

FHFA Director Sandra L. Thompson will testify before the House Financial Services Committee to discuss the latest measures taken by the Agency to execute its mission of maintaining the safety and soundness of the GSEs, and ensuring access to affordable and sustainable housing.

Existing-home sales dropped 3.4% to a seasonally adjusted annual rate of 4.28 million units at a median price of $388,800.

According to Realtor.com's April Rental Report, rent growth slowed to its lowest rate since the onset of the pandemic, as new data revealed a significant increase in multifamily construction is contributing to lower rent prices and a slowdown in housing shortages.

According to Ginnie Mae, April’s mortgage-backed securities issuance supported the financing of more than 112,000 households, including assisting more than 50,700 first-time homebuyers.

Based on April’s data, potential existing-home sales increased to a 5.34 million seasonally adjusted annual rate, a 0.45% month-over-month increase. This represents a 53.3% increase from the market potential low point over 30 years ago in February 1993.

While overall U.S. rent growth remains slightly elevated above pre-pandemic rates, higher-priced property gains are normalizing, according to CoreLogic's latest Single-Family Rent Index.

New policies set forth by the FHA in Mortgagee Letter 2023-10 will shorten the timeframe for mortgagees to receive Home Equity Conversion Mortgage assignment funds.

The U.S. Department of Housing and Urban Development and the National Association of Home Builders announced new information surrounding the Innovative Housing Showcase, held to raise awareness of innovative and affordable housing designs with the potential to increase housing supply and reduce housing expenses for owners and renters nationwide.

New seven-year deal enables Hawaii-based bank to offer real-time mortgage servicing to help power the customer experience.