3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

New home sales plummet 14.5% in March

Spring buying season off with a whimper

4 metrics reveal California's true housing market

Foreclosures dwindle as home prices skyrocket

Items Tagged with 'FHA'


Here's proof the housing bubble is about to burst

This recovery is an illusion
April 15, 2014
If those economists who believe the government will continue to intervene are right, the outcome would further fuel a false demand for available housing. But will this government or even a new one want to step in again to bail out consumers?
Read More

Monday Morning Cup of Coffee: Will Citi follow in JPMorgan, Wells Fargo footsteps?

Also, criticism grows for FHA fees
April 13, 2014
In an important week on earnings, analysts lay out the scenario of performance for Citigroup. Plus, mortgages are growing at smaller lenders, criticism of the FHA continues, and the investor plan to buy a Baltimore bank appears in jeopardy.
Read More

FHA to Realtors (and everyone else): We’re not lowering rates

But acknowledged that rates may have reached a “tipping point” that could drive buyers away
April 10, 2014
"Now is not the time to roll those premiums back," Federal Housing Administration Commissioner Carol Galante said. "Right now we are priced appropriately and are reaching out to creditworthy individuals.”
Read More

Securitized mortgage risk growing as lending practices degrade

Political pressure to lower standards increases
March 24, 2014
The risk rate for securitized agency mortgages is worsening and lending practices are becoming less safe.
Read More

Carrington ups ante on Wells Fargo by lowering FICO standard

Lowers minimum FICO score to 550
March 24, 2014
Carrington Mortgage Services is the next major lender to announce it lowered its minimum FICO score to 550 in order to better focus on underserved borrowers.
Read More

Housing risk is rising as more loans don't meet QM on DTI

An early look at report shows loan climate getting riskier
March 21, 2014
On March 24 the International Center on Housing Risk will release a briefing on its National Mortgage Risk Index and its State Mortgage Risk Indices, but HousingWire has a preview available now and the risk in housing is growing.
Read More

FHA launching Fannie, Freddie-style appraisal portal

Will be similar to Uniform Collateral Data Portal
March 20, 2014
The FHA is working to launch The Electronic Appraisal Delivery portal in 2015 after a period of testing this summer.
Read More

Stewart Title makes first e-closing of FHA loan

Technology will vastly reduce paperwork
March 18, 2014
Stewart Title performed what is believed to be the first electronically closed FHA loan in partnership with Mountain America Credit Union.
Read More

2 Senators, 1 plan to completely reform housing finance?

Bipartisan strategy to replace Fannie Mae and Freddie Mac
March 11, 2014
Last fall, the Senate Banking Committee hosted an in-depth series of hearings exploring essential elements necessary for reform. This 10-point plan is the result and legislation will soon be introduced.
Read More

California Congressman goes on REO-to-rental warpath

Takano pushing four federal bodies to investigate
March 6, 2014
Longtime critic of REO-to-rental U.S. Rep. Mark Takano, D-Calif., fired off letters to four federal entities asking for a detailed investigation into the growth of REO operations and REO-to-rental as an investment. Is his concern misplaced?
Read More