News

According to a new report, FDIC-insured banks saw a jump in income over the first quarter. The institutions reports a 12.7 percent rise in revenues over the year. Total loan balances at FDIC banks are slowing down.

Buying might still be cheaper than renting in major U.S. metros, but rising prices and stalling rents could soon flip that dynamic. A new report by Trulia shows how the most expensive U.S. markets could see a rise in rentals. A lot depends on federal policy over the next couple years.

The highly anticipated hearing for the Consumer Financial Protection Bureau (CFPB) and PHH Corporation took place Wednesday in front of the Court of Appeals for the District of Columbia Circuit. The Court of Appeals agreed to revisit their October decision ...

The total national loan delinquency rate (loans 30 or more days past due, but not in foreclosure), spiked 13 percent from in April from March putting a little over 2 million properties past due. However, according to experts, there is no need for alarm. The rise is primarily due to the calendar with April ending on a Sunday.

The Director of the Federal Housing Finance Agency (FHFA), spoke about the FHFA and the FHLBanks at the 2017 Federal Home Loan Bank Directors’ Conference Tuesday. Mel Watt began with positive news about FHLBank performance and lead into the four main regulatory issues he would like to focus on. He stressed that the FHFA will carry out all work in a transparent manner.

According to its latest summary report, Freddie Mac’s mortgage portfolio has increased 0.5 percent over the year. In April, the government-sponsored enterprise completed more than $28 billion in mortgage purchases and issuances, and 4,500 single-family loan modifications. Its mortgage-related securities portfolio also increased year-over-year.

Builders and developers have reported that credit conditions for acquisition, development, and single-family construction (AD&C) have been easing in the past few months. Eased lending standards are linked with growth in the volume of residential construction loans held at banks, and by extent, the growth in residential construction as a whole. Sales of brand-new homes are expected to jump 10.7 percent this year as the historically low inventory has been pushing for increased construction.

On Tuesday, the Trump administration announced its proposed 2018 budget. Included in the budget are several cuts to Department of Housing and Urban Development programs, including cutting the funding to the Community Development Block Grant Program, as well as the Choice Neighborhoods Initiative, HOME Investment Partnerships Program, and the Self-Help Homeownership Opportunity Program.

News spread quickly through the mortgage industry on Monday that long-standing auction house Hudson & Marshall (H&M) is being acquired by Fidelity National Financial (FNF). While industry reactions poured in, FNF's “hold” ratings began to switch to “buy” in many research firms. As part of this acquisition, FNF company ServiceLink is launching ServiceLink Auction.

The most pressing problem facing the housing industry today is the tight inventory and millennials may be partly to blame. As many young potential buyers move into cities and away from the suburbs, housing construction has been notoriously weak. Cities like New York, San Francisco, Boston, and Los Angeles have seen their suburban areas shrink.