New single-family homes recorded a sharp uptick in January, running at a seasonally adjusted annual rate of 543,000, following reports of homebuilder sentiment that show strength in the market for new homes.
Mortgages processed through the U.S. Department of Agriculture came to a halt when the government shut down last week. The closing thwarted the processing of new USDA loans, creating another potential drag on the housing market.
Here's a troubling anecdote for you, via the Wall Street Journal:
When Erick Moore first read about the USDA's Rural Development Guaranteed Loan program, he says he imagined it would be "restricted to some little farmhouse." Instead, the 33-year-old computer programmer moved last month into a four-bedroom, three-bath home in Fuquay-Varina, N.C., 17 miles outside Raleigh. The house sits on nearly one acre and features a brick facade, 10-foot ceilings and hardwood floors.
The Federal Home Loan Banks' Mortgage Partnership Finance Program announced a new partnership with the USDA Rural Development program on Tuesday.
Under this new arrangement, approved Home Loan Banks participating in the MPF Program can now purchase RHS Section 502 government-guaranteed loans from qualified members, including commercial banks, thrifts, credit unions, and insurance companies.
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More