Truth is, those recent housing numbers aren't so shiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?

This man pretends to be a Realtor and no one can stop him

Canadian fines don’t seem to slow down Derek Johnson

The top 10 critical issues facing GSE reform

Urban Institute: Reform in limbo
W S

News

Closing rate for mortgage originations drops in July

Closure for 90-day applications falls below 60%
Mortgage originations showed an overall closing rate of 57.7% in July 2014, down from 60.7% in June 2014, according to a sample of 90-day loan applications conducted by Ellie Mae.
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What can you get for $1 million in housing these days?

It's not two houses at the same time or even a bigger house
Trey Garrison
Home values are down 11% from their pre-meltdown peak in 2007, and $1 million doesn’t go nearly as far as it used to, according to Zillow’s number crunchers.
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Mortgage applications rise 1.4% even as government mortgages drop

Refinancings increase to 55% share of mortgage application activity
Trey Garrison
Mortgage applications increased 1.4% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 15, 2014.
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Millennials better at paying their mortgages

Mortgage delinquency rate falls nearly 20%
Brena Swanson
The youngest group of mortgage borrowers posted the lowest mortgage delinquency rate, falling to 2.34%, overcoming the impact of the Great Recession.
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CFPB expresses “heightened” concern over MSR transfers

New bulletin reminds servicers of responsibilities to borrowers
Ben Lane
In the new bulletin, the CFPB said that it is reminding servicers of their responsibilities to borrowers, “in light of potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.”
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Chicago FHLB launches Ginnie Mae MBS program

Gives small banks access to secondary mortgage market
Brena Swanson
The Federal Home Loan Bank of Chicago will soon launch its new program that allows members to originate and sell government-backed loans into Ginnie Mae mortgage-backed securities.
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Are we facing yet another foreclosure crisis?

Property preservation remains vital component to default servicing
Lynn Effinger
Despite numerous reports indicating that there has been a deep decline in foreclosure inventory over the past several months in many markets, the reality, as chronicled in several articles recently penned by this author and others, is that foreclosure rates are very likely to rise again in the not-too-distant future.
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Good news for the housing market?

Home Depot raises full-year forecast
Brena Swanson
Home Depot recorded strong second-quarter earnings on the same day the U.S. Census Bureau and the Department of Housing and Urban Development reported multifamily housing starts soaring.
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5th Circuit U.S. Court of Appeals affirms MERS authority to assign mortgage

Trey Garrison
The U.S. Court of Appeals for the Fifth Circuit affirmed MERSCORP Holdings’ authority to assign the mortgage lien as its basis for affirming the dismissal of a wrongful foreclosure lawsuit.
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Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
Trey Garrison
The bad news is that almost all of those gains from June to July in starts and permits are in multifamily rental housing. That’s not the sign of a housing recovery. That’s the sign of a shift from an ownership society to a rental society.
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