Lending

Fannie Mae: Home buying sentiment falls as more Americans say now is not a good time buy

In June, Fannie's HPSI fell by 0.5 points in June to 91.5
In June, housing confidence fell to 91.5 points as more Americans reported now is not a good time to buy, according to Fannie Mae’s latest Home Purchase Sentiment Index. Fannie Mae Senior Vice President and Chief Economist Doug Duncan said growing expectations that mortgage rates will remain steady suggest improved stability for housing affordability.
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Appetite for jumbo loans increasing as jumbo credit availability rises to 8-year high

Overall credit availability increased slightly in June
It was easier to get a jumbo mortgage in June than it has been in any month since 2011, according to a new report from the Mortgage Bankers Association. The report showed that the availability of jumbo mortgage credit increased for the sixth straight month, rising to its highest level since 2011.
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Americans haven't been this good at paying their mortgages in more than 20 years

Mortgage delinquency rate falls to 20-year low
Americans are better now at paying their mortgages on time than they have been at any point in the last 20 years, a new report from CoreLogic shows. According to CoreLogic’s latest monthly Loan Performance Insights Report, the national delinquency rate sat at 3.6% in April. That’s the lowest national delinquency rate in more than 20 years.
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Maria Moskver joins Cloudvirga as its new chief legal and compliance officer

Moskver has more than 20 years of experience in the fintech sector
Fintech company and HousingWire Tech100 winner Cloudvirga appointed Maria Moskver as its new chief legal and compliance officer. Moskver, who is a 2018 HousingWire Woman of Influence, is an industry veteran who has more than 20 years of experience working in compliance and regulatory matters for financial services technology companies.
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Stearns Lending declares Chapter 11 bankruptcy

Blackstone to acquire "substantially all of the ownership" of Stearns
Just nine months ago, Stearns Lending was very much in growth mode, acquiring an equity interest in Citywide Home Loans, rolling out new loan programs and acquiring other new lending channels. But the tide appears to have turned as Stearns is now facing Chapter 11 bankruptcy. Click the headline for the full story.
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FHFA Special Advisor Bob Ryan stepping down this week

Obama-era appointee leaving agency by July 12
Bob Ryan, who has served as special advisor to the Office of the Director of the Federal Housing Finance Agency for more than five years, is stepping down this week, the agency announced recently. According to the FHFA, Ryan is set to leave the agency by July 12.
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Expert: AVMs will soon represent 70% of valuations

Represent a viable option for much of the current origination volume
Automated valuation models often come under special scrutiny as mortgage experts seek to increase technology in the industry while warding off the possibility of another housing crisis, but one expert explained why AVMs could work in today’s mortgage lending environment.
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