Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

How Biden’s Neighborhood Homes proposal impacts real estate investors

Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.

Mortgage

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

An early look at report shows loan climate getting riskier

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 is growing.

The two indices provide a measure of how mortgage loans originated month by month would perform under severely stressed conditions.

International Center on Housing Risk co-directors Edward Pinto and Stephen Oliner will analyze the riskiness of single-family mortgage originations based on data through February 2014.

This month’s NMRI update shows 24% of all purchase loans have a debt-to-income ratio greater than the QM limit of 43%.

The Federal Housing Administration leads with 45% of purchase loans exceeding the 43% DTI limit.  Both are new series highs.

Indices for Fannie/Freddie and FHA/RHS both hit new highs in February, while composite index ticked down as FHA’s share eased.

Risk levels remain higher than is conductive to long-run market stability, their report says, with no discernible impact from QM regulation.

HousingWire will cover the release in detail on Monday, but a preview of the presentation is available now. You can read or download the presentation here.

The International Center on Housing Risk is a part of the American Enterprise Institute.

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