The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

How lenders can prepare for increasing regulatory pressures

As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Real Estate

Fannie Mae reports housing market confidence drop

First drop in three months

Following three months of increases, Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, fell 1.7 points in November to 80. Year-over-year, the HPSI is down 11.5 points.

Senior Vice President and Chief Economist Doug Duncan points to consumer wariness around COVID-19 as reason for the sudden decline in housing market confidence.

“This follows the HPSI’s recovery of slightly more than half of the loss experienced during the first few months of the pandemic,” he said. “Purchase confidence has recovered more for homeowners than for renters, in part because homeowners have been less likely than renters to have had their jobs and finances impacted by the pandemic.”

Duncan added that the gap between homeowner and renter subgroups hit a survey-high in August, and remains “elevated and well-above the survey average” in November.

Untying business growth from the housing market cycle

Lenders need to be able to grow their business in a way that is not linear and is not tied to the market cycles – leveraging automation technology can help.

Presented by: Indecomm Global

The percentage of HPSI respondents who said it was a good time to buy a home fell 3% in November, from 60% to 57%. Those who said it was a good time to sell a home remained the same at 59%. The net share of Americans who say home prices will increase jumped 8 percentage points month-over-month.

As for mortgage rates, the net share of residents who believe rates will go down over the next 12 months decreased 14% month-over-month.

Concern for the job market has been understandably high in 2020; in October, the net share of residents who said they were concerned about losing their job was at 21%. That number increased to 24% in November.

The share of Americans who say the economy is on the right track actually rose 3 points to 42% from October. And, the net share of Americans who say their household income is “significantly higher” than it was 12 months ago increased 3 percentage points month-over-month according to the report.

Forty percent of HPSI respondents said they expect their financial situation to improve, and 41% think their financial situation will stay the same. Twenty-four percent of respondents said their change in household income is “significantly higher” in October than the past 12 months.

Leave a comment

Most Popular Articles

Treasury removes restrictions on investment properties

The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac.

Sep 14, 2021 By

Latest Articles

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

The United States is grappling with a sharp rise in natural disasters, including wildfires, an active hurricane season, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Sep 17, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please