Fannie Mae: Don't expect 2015 to be a breakout year for housing

Stop panicking about recent foreclosure numbers

The sky is not falling

Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family”

Senator charges FHFA with dereliction on principal reduction
W S

Lending

GSEs officially update representation and warranty policies

Analysts say impact of long-awaited changes may be minimal
Ben Lane
Fannie Mae and Freddie Mac both announced changes to their respective representation and warranty policies, following through on an announcement made by Federal Housing Finance Agency Director Mel Watt at the Mortgage Bankers Association Annual Convention & Expo in October.
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[CHART] FHFA: G-fees more than double in 4 years

Chronological changes in g-fees
Brena Swanson
The Federal Housing Finance Agency’s sixth annual report on the single-family guarantee fees charged by Fannie Mae and Freddie Mac included data from 2009 to 2013, showing just how intensely g-fees have increased in four years.
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MBA announces 31 new members

Membership increases to more than 2,200
Ben Lane
"These new members vary greatly in their size and focus, whether it be residential or commercial/multifamily," said David Stevens, MBA’s president and CEO. "However, they illustrate MBA’s greatest strength: our ability to come to any table or address any situation knowing we represent the entire mortgage-lending spectrum."
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Low interest rates drive refinances to six-month high

Interest rates fall again
Ben Lane
"Low rates are creating opportunities for homeowners to either lower their payments or capitalize on their homes’ equity," said Jonathan Corr, president and COO of Ellie Mae.
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Fannie Mae: Don't expect 2015 to be a breakout year for housing

New year will likely mirror 2014
Brena Swanson
“The housing market continues to grind its way upward, but we don’t expect a breakout performance in 2015 as the fundamentals remain somewhat muted,” said Fannie Mae Chief Economist Doug Duncan.
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CUNA issues alert on HELOC wire fraud

New round of attacks prompts cautions on data
Trey Garrison
CUNA Mutual Group issued an alert this week regarding a wave of fraud that originates from home equity lines of credit and requests wire transfers be sent to construction company accounts.
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Genworth: G-fee increases to hurt mortgage lending

53% say increases will result in fewer loans
Brena Swanson
The Federal Housing Finance Agency announced in June that it was seeking industry opinion on Fannie Mae and Freddie Mac guarantee fees, and while the results of this have not been revealed, a new survey of mortgage bankers gives a preview into what lenders expect to happen with increases.
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Freddie Mac: Rates drift below 4% again

Rates slightly down from last week
Brena Swanson
Mortgage rates ticked back down and fell below 4% again, as rates continue to fluctuate around this level. Meanwhile, the 15-year FRM dipped to 3.17%, down from 3.2% a week ago and 3.27% a year ago.
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Zillow: Mortgage rates fall further below 4%

Continues at sub-4% level for seventh week in a row
Ben Lane
Current rate borrowers were quoted an average interest rate of 3.82% on Zillow’s Mortgage Marketplace in the week that ended Tuesday, down from last week’s figure of 3.9%.
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CFPB: Don’t discriminate against borrowers on Social Security disability

Issues warning to lenders
Ben Lane
The Consumer Financial Protection Bureau issued a warning to lenders, ordering them not to discriminate against borrowers who are receiving Social Security disability income.
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