Items Tagged with 'Urban Institute'

ARTICLES

Here's clear evidence of how much more complicated mortgage lending is now

An inside look at one lender's operations
At any gathering of housing industry professionals, it isn’t long before the conversation inevitably turns to the current regulatory environment. That was definitely the case at Wednesday’s housing summit hosted by the Urban Institute and CoreLogic. Debra Still, the president and CEO of Pulte Mortgage, surprised some in the crowd by presenting concrete evidence of how much more complicated mortgage lending is now than it was 10 years ago.
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Why does it take so long to close a loan? Appraisers

Speakers at CoreLogic and Urban Institute housing summit say appraisals delay closing
Recent data from Ellie Mae showed that it takes about a month and a half on average to close a mortgage. Several speakers at Wednesday’s housing summit hosted by the Urban Institute and CoreLogic said that closing times could conceivably be much shorter than that, even as little as 10 days. So what’s keeping lenders from closing a loan in a week and a half instead of a month and a half? Appraisers.
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Housing's new normal: Low interest rates, shifting demand, coming wave of new homebuyers

CoreLogic's Frank Nothaft on how housing is changing
Speaking before a packed house gathered Wednesday on the 7th floor of the Newseum in Washington, D.C., CoreLogic’s chief economist, Frank Nothaft, told the crowd of housing insiders that anyone waiting for any dramatic shifts in housing, interest rates, or otherwise is likely to be left waiting.
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Here's "clear evidence" the credit box is way too tight

Why five years of squeaky clean loans isn’t a good thing
Borrowers who took out mortgages in the past five years are better at paying their mortgages than any other group of mortgage borrowers in history. But this squeaky-clean performance isn’t a good thing, according to the Urban Institute. In a new blog post, the think tank posits that the interesting data shows the severity of how tight the credit box is.
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Experts agree mortgage servicer compensation needs to change

But how? Analysts "pessimistic" regarding the effort
The industry knows there is a gigantic problem surrounding servicer compensation. But as Laurie Goodman, codirector of the Housing Finance Policy Center with the Urban Institute, so eloquently put it at a housing policy event on Wednesday, "It is much easier to say the current system does not work than it is actually come up with something better." Could 2017 be the year this all finally changes?
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Urban Institute: Selling NPLs to investors is working

Four ways to improve sales
Researchers from the Urban Institute are already on the record with their view that more pools of non-performing loans need to be sold to private investors, but a new article posted on the Urban Institute's Urban Wire blog on Housing and Housing Finance suggests that more steps need to be taken to ensure a mutually beneficial result for all parties involved in a non-performing loan sale.
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BofA's low-down payment promising but what about the FHA?

Urban Institute: It's not a substitute
Ever since Bank of America announced its new 3% down payment mortgage program, the Affordable Loan Solution, it’s being looked at as an effort for borrowers to skirt around the Federal Housing Administration. Urban Institute research associate Karan Kaul says that though such efforts are an alternative to FHA lending, they are not a substitute.
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