Urban Institute: Qualified Mortgage impact overblown

Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
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Items Tagged with 'Mortgage Bankers Association'

ARTICLES

New home applications rise in July

Reverses June’s decline
Ben Lane
July’s increase recaptured some of June’s decline in new home purchase applications, when applications fell 5% from May’s total.
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Mortgage applications dip 2.7%

Rates post little movement
Brena Swanson
Mortgage applications fell 2.7% from one week earlier, losing any gains made last week. Meanwhile, the refinance share of mortgage activity declined to 54% of total applications from 55% the previous week.
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MBA’s Stevens: Single GSE bond is “critical”

New plan brings “unworkable fantasy” closer to reality
Ben Lane
"The move to a single security will enable the two GSEs to compete on a more level playing field, and this competition will be beneficial to both homebuyers and lenders,” David Stevens, president and CEO of the Mortgage Bankers Association, said.
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Multifamily, commercial mortgage loans jump 34% in 2Q14

But still down 2% from 2013
Ben Lane
Multifamily originations were down 10% over 2013's second quarter, but up 32% over the first quarter of 2014.
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New-home purchase applications dip slightly

Fall by 5% in June
Brena Swanson
Mortgage applications for new-home purchases fell by 5% compared to the previous month, while new single-family home sales ticked higher.
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Castro’s confirmation as HUD Secretary met with industry approval

President Obama, others praise San Antonio mayor
Ben Lane
"I applaud the bipartisan majority of Senators who today confirmed Julián Castro as our next Secretary of Housing and Urban Development," President Obama said. "Julián is a proven leader, a champion for safe, affordable housing and strong, sustainable neighborhoods."
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3 diamonds in the housing data rough

...it's not all bad news
Brena Swanson
2014 does not stand a chance against the record-breaking housing numbers witnessed in 2013 but that does not mean it is all bad news for this year. This week provided some good tidbits for housing, with mortgage applications rising and record traffic for online real estate sites.
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The cost of closing mortgages is officially ridiculous

...it just got worse
Brena Swanson
Last time the cost of closing mortgages was astronomical, now it is just plain ridiculous, as production income decreases for the sixth straight quarter.
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Commercial/multifamily mortgage debt hits new high

Brena Swanson
Commercial and multifamily mortgage debt outstanding continued to expand during the first quarter and increased by $11.1 billion, hitting another new high.
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The future of housing is better than you think

Home equity's main role in market's success
Brena Swanson
Although the housing market continues to fall short of last year, it may not be like this for long. According to one report, the impact of rising home equity will help buoy the market in the future.
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