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Freddie Mac: Affordability to hold back home sales in 2017

Plummeting refis could bring down originations 25%
The squeeze in housing inventory is sending home prices even higher, creating declines in affordability and putting a pinch on prospective homebuyers. Freddie Mac also predicted a drop in mortgage originations of 25%, however the report showed this will come almost entirely from plummeting refinances.
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Freddie Mac plans launch of automated underwriting in 2017

FHFA provides comprehensive update on status of Fannie Mae, Freddie Mac
The Federal Housing Finance Agency on Wednesday released a comprehensive report on how Fannie Mae and Freddie Mac performed in 2016, measured against the goals laid out for the government-sponsored enterprises in 2014. One of the highlights? Freddie Mac plans to begin using automated underwriting in 2017.
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Pending home sales rebound to highest level in a year

Hit second highest level this decade
Pending home sales rebounded from January’s decrease, hitting the highest level in almost a year and the second-highest level in a decade. NAR’s chief economist commented that buyers came back in force last month as a modest, seasonal uptick in listings was enough to fuel an increase in contract signings throughout the country.
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Mercury Network acquiring Appraisal Scope

Deal combines two valuation management software platforms
Last year, Mercury Network, an appraisal management system, announced plans to expand by acquiring Platinum Data Solutions, a QC technology company. And it turns out that the company is not done growing, as the company announced this week that it is acquiring Appraisal Scope, a provider of valuation management software.
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Case-Shiller reaction: What to make of record high home prices

Zillow, Quicken Loans, First American and others weigh in
The latest S&P CoreLogic Case-Shiller Indices showed that home prices hit a 31-month high in January, but will those record prices be a speed bump or a brick wall for home buying moving forward? Opinions appear to be a bit mixed in that regard, with some analysts viewing January’s data as a significant drawback for certain segments of the home-buying market, while others say the rising prices aren’t a concern, yet.
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Case-Shiller: Home prices keep rising, hit 31-month high

January was fifth straight month of record high home prices
Home prices continued to rise in January, reaching a record-high for the fifth month in a row, according to the new S&P CoreLogic Case-Shiller Indices, a measure of U.S. home prices. January's increase places the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index at a 31-month high.
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Value of housing market hits 10-year high

Equity rises above mortgage debt
The value of the housing market reached its highest point in 10 years and surpassed the pre-crisis peak. This increase was fueled by rising home prices as home equity reached an all new high of $14 trillion.
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Existing home sales come down off 10-year high

January still shows annual increase
Existing home sales slipped down off last month’s decade-high, but remained above last year’s levels. But considering January’s drop in pending home sales to the lowest level in a year, this decrease comes as no surprise.
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Former HUD senior advisor Richard Green: Here are the issues with Trump's budget

Ginnie Mae staffing levels and FHA infrastructure will both suffer

Late last week, Julián Castro, who served as secretary of the Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama, told HousingWire that he has several issues with President Donald Trump’s budget proposal, which calls for a $6.2 billion cut to HUD’s budget. But Castro isn’t the only former HUD official to express concerns with Trump’s budget.


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