Here's where expert economists think housing is going

Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail

2 reasons the single-family rental securitization market won’t exceed $20 billion

$1 trillion market? Not even close.
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News

Large lenders the first to fully open the credit box?

Fannie Mae: As competition increases, standards decrease
Brena Swanson
“Larger lenders are expecting to tap into the non-GSE-eligible and government loan market to maintain or grow their market share and offset their anticipated slowing mortgage demand as the peak spring/summer selling seasons are coming to an end,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
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NAHB: Homebuilder confidence hits 9-year high

Builders optimistic even with mortgage apps at 14-year low
Trey Garrison
Mortgage applications and home sales figures aren't deterring homebuilders, who think they have some solid reasons to be confident in the market going forward — as confident as they were in 2005, no less.
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Citigroup and Bank of America loosen standards for struggling borrowers

Offer mortgages with discounted rates
Brena Swanson
Both of the mega banks will start to offer mortgages at a discounted interest rates as part of their new efforts to help borrowers with low incomes or subprime-credit histories.
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Mortgage applications jump dramatically, up 7.9%

MBA: Refinancings up 10% while purchases up 5%
Trey Garrison
Mortgage applications jumped dramatically for the week ending Sept. 12, up 7.9% from the week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Sept. 12, 2014.
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FHFA reps and warrants policies have “significant and unresolved” risks

Watchdog: FHFA’s implementation was rushed and flawed
Ben Lane
In a new report from the FHFA’s Office of the Inspector General, the OIG said that the FHFA mandated a new representation and warranty framework for the GSEs and implemented it “despite significant unresolved operational risks to the Enterprises.” Among those is processes that may not be in place at Fannie Mae until late 2015, for example.
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Millennials start to move out of their parents' houses

… but still not buying
Brena Swanson
Although millennials are moving out from their parents’ homes, they are still not buying their own houses. Instead, they are choosing to rent.
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California man found guilty in $5.8 million mortgage fraud scheme

Continued to run operation from prison cell after arrest
Levi Shultz
More than 1,000 homeowners in California and other states were convinced by Tikal and his associates to participate in the program. As a result of relying on the program, many of these homeowners stopped payments on their existing mortgages and lost their homes to foreclosure.
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Mortgages don’t to make it on BofA’s priority list

New strategy pulls back from mortgages
Brena Swanson
With the majority of Bank of America’s lawsuits behind it, the Charlotte-based bank is refocusing its efforts and choosing to pull back from mortgages.
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New HUD Secretary outlines his vision for last years of Obama Administration

Focus ranges from accountability and transparency to progressive projects
Trey Garrison
The new Housing And Urban Development Secretary sees HUD as a department of opportunity, not just a department of housing.
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Virginia targets banks with $1.15B toxic mortgage lawsuit

Virginia Retirement System lost $383 million
Brena Swanson
In the largest financial fraud action ever brought by the Commonwealth of Virginia, Attorney General Mark Herring announced a $1.15 billion lawsuit against some of the largest commercial banks for fraud committed against Virginia taxpayers during the height of the financial crisis.
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