Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Mortgage

HARP to extend until 2016?

Falls in line with HAMP

Federal Housing Finance Agency Director Mel Watt is focusing additional effort on capturing the significant proportion of eligible HARP refinances left. However, according to Compass Point Research & Trading, Watt might have more time to accomplish this feat.

Watt, along with housing experts and community leaders, will meet in a town hall-style meeting at the Woodson Regional Library in Chicago on July 8 to discuss the benefits of HARP and encourage the approximately 36,000 Chicago residents still eligible to participate in the program.  

“We believe there is a high likelihood that Director Watt will use this forum to announce an extension of the HARP from December 2015 to December 2016,” the company report said.

At the end of June, U.S. Treasury Secretary Jacob Lew announced several initiatives designed to spur the flailing housing market, including the extension of the Making Home Affordable program until at least Dec. 31, 2016.

“These new actions will help provide more affordable options for renters, assist homeowners facing foreclosure or juggling bills to pay their mortgages and expand access to credit for prospective borrowers,” Lew said.

As a result, Compass Point said it believes that the FHFA will align the HARP expiration with the HAMP expiration just as they did in 2013 when the programs were extended last.

But despite this being a small win for special servicers and some originators, the extension is not likely to put a dent in the market’s broader refinancing burnout. 

Latest Articles

Are you ready for the new CFPB director?

Over the last month, two of the biggest housing regulators either changed or were rumored to change leadership. Senior Mortgage Reporter Georgia Kromrei helps shed some light on these changes in this Q&A. HW+ Premium Content

Oct 15, 2021 By
3d rendering of a row of luxury townhouses along a street

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