Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

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

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

MortgagePolitics & Money

Americans are way more in debt now than they were after the financial crisis

Auto loans push household debt 21% above post-crisis levels

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.

According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.

It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

A large portion of this collective debt is a result of auto loans, which have been climbing steadily since 2011, increasing $9 billion in Q4.

Last year saw the highest level of auto loan debt in the 19 years that this data has been collected, with $584 billion in new auto loans and leases appearing on credit reports.

But a slowdown in mortgage originations has tempered debt growth in Q4, the New York Fed said.

Mortgage originations declined from $445 billion to $401 billion, reaching their lowest level in nearly four years. Mortgage balances totaled $9.1 trillion, mostly unchanged from the previous quarter.

Delinquencies were also flat, with 1.1% of mortgage balances late by 90 days or more.

HELOC balances also declined, falling $10 billion in Q4 to $412 billion – the lowest level in 14 years.

While mortgage debt declined, credit card and student debt rose. Outstanding student loan debt climbed to $1.46 trillion from $1.44 trillion, while credit card balances increased $26 billion to $870 billion, consistent with seasonal patterns.

On a positive note, bankruptcy notations were down in Q4. About 195,000 consumers had a bankruptcy notation added to their credit reports, down 5,000 from the same time last year.

Here is a breakdown of total U.S. household debt:

NY Fed

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

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