Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

FHFA director delays impending g-fee hike

Wants time to evaluate changes

The Federal Housing Finance Agency said Wednesday it will delay plans to raise the base guarantee fee by 10 basis points for all mortgages securitized by Fannie Mae and Freddie Mac in order to give newly appointed FHFA Director Mel Watt time to review the changes.

The agency also planned to update the g-fee grid and eliminate the upfront 25 basis point adverse market fee this year, but those initiatives also have been delayed.

All of the changes were supposed to take effect in March and April, but newly minted FHFA Director Mel Watt told the market he needs more time. 

Watt intends to conduct a thorough evaluation of the proposed changes and their likely impact on the mortgage market. Watt's office will give no less than 120 days notice after completing the evaluation before implementing any changes.

“The implications for mortgage credit availability and how these changes might interact with the new qualified mortgage standards could be significant,” said Watt.

“I want to fully understand these implications before deciding whether to move forward with any adjustments to g-fee pricing,” he added.

Watt was officially sworn in as director of the FHFA on Jan. 6. 

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3d rendering of a row of luxury townhouses along a street

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