Daily Dose

Housing market fundamentals were a mixed bag in Q2 will likely remain an uneven piece of the economy for the rest of the year, according to Fannie Mae.

The Federal Open Market Committee released their July 26-27, 2016 minutes noting the changes seen in financial markets and open market operations as well as reviewing the economic state, financial state, and economic outlook.

The Urban Institute hosts housing market experts to discuss recent and emerging issues found in the mortgage servicing industry.

Fannie Mae recently release the latest Servicing Guide with updates including allowable foreclosure attorney fees for New York, suspending foreclosure proceedings for a streamlined modification offer, and servicing government mortgage loans.

HOPE NOW recently released its Q2 2016 data, and it reported over 100,000 permanent modifications completed during the past quarter.

What would the housing market and national median home value look like if the housing bubble and subsequent crisis hadn't occurred?

Emery Celli Brinckerhoff & Abady (ECBA) and MFY Legal Services recently filed a federal class action challenging the legality of a Department of Housing and Urban Development (HUD) program that sells government-insured FHA home mortgages to private equity funds, leaving these borrowers without insurance-program benefits they are entitled to and putting them at heightened risk of foreclosure

Earlier in August, 65 House Democrats wrote a letter to the CFPB urging them to pass their proposal to ban the use of arbitration clauses in business contracts. Now several state attorneys general are behind the proposal.

Despite the 30-year, fixed mortgage’s desirable and stable conditions, it has been shown to evolve with the change of market forces, demographics and demand.

The national credit picture took a nine basis point dip in July from the year prior, as mortgage and consumer credit default rates overall stay steady on a month-over-month basis.