As climate changes expose more U.S. housing stock to potential flood damage, the Congressional Budget Office has issued an impact report encompassing homeowners with mortgages protected by the GSEs or backed by the FHA or VA.
Read More »NAR Forecast: Existing Home Sales on the Rise by Next Spring
According to National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will be between 6-7% by next spring. Here’s what that may mean for existing home sales.
Read More »Mortgage Servicing Powers Independent Mortgage Banks Through Q3
Mortgage servicing proved to be a bright spot for independent mortgage banks in Q3, as roughly half of the companies MBA polled stayed profitable in the quarter, thanks to their production and servicing business lines.
Read More »PHH Mortgage Announces Subservicing Agreement With Zillow Home Loans
Following a collaborative onboarding and integration cycle, this new partnership expands on an existing correspondent relationship to a strategic servicing partnership.
Read More »FHA Reports on Delinquency, Credit Access in Report to Congress
In its Annual Report to Congress for fiscal year 2023, the FHA detailed the work of its single-family mortgage insurance programs in fiscal year 2023, including updates on credit access, capital in the MMI Fund, and delinquency rates of mortgages in its portfolio.
Read More »Fannie Mae President David Benson to Retire
After 21 years with the GSE, David Benson has announced that he will step down as President in early- to mid-2024, to be replaced by current Fannie Mae CEO Priscilla Almodovar.
Read More »FHA Increases Fees for Property Preservation Expenses
An update to allowable inspection fees will increase compensation for inspections that determine a property’s occupancy status and safeguard neighborhoods from blight arising from inadequately maintained unoccupied homes.
Read More »Trade Groups Urge Congress to Extend NFIP and Protect Housing Market
In a letter to Mike Johnson, Speaker of the United States House of Representatives, 11 housing organizations have issued a letter to Congress to extend the authority of the NFIP by ensuring other vital housing programs do not lapse on November 17.
Read More »Investors Purchased $36B Worth of U.S. Homes in Q3
Redfin reports that home investors purchased 15.9% of the U.S. homes sold in Q3, with the typical investment home priced at $475,115, up slightly from $449,895 in Q3 of 2022.
Read More »Senators Call Upon Credit Reporting Agencies to Protect Servicemembers
In a letter to TransUnion, Experian, and Equifax, a coalition of Senators led by Sharrod Brown are urging the big three credit agencies to ensure servicemembers receive free credit monitoring services and free access to credit reports.
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