Living longer comes with a hefty price tag, and more seniors are starting to realize that the greatest financial risk they’re facing is longevity, says the 2011 MetLife Retirement Income IQ survey. “Everyone knows they’re likely to live longer, but most don’t realize that can mean living past age 85 and they fail to calculate […]
Search Results for: new
51255 Results found for new
The economics and mortgage market think tank within Fannie Mae estimates a 50% chance the country will slide back into a recession by the end of the year. On the bright side, there is an equal chance the economic recovery will continue unabated, according to the group’s October 2011 Economic Outlook. “Home prices are a key factor for any positive movement in the housing market, and the large inventory of distressed homes working their way through the market is putting downward pressure on prices,” said Fannie Mae Chief Economist Doug Duncan.
CoreLogic [stock CLGX][/stock] and Amherst Holdings will begin forecasting future loan prepayments underlying mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. CoreLogic will provide the numbers from its database of more than 40 million active mortgages, and Amherst will conduct the analysis and predictions. Amherst will look at repay risks due to refinances, home sales and defaults.
Both fixed-rate and adjustable-rate mortgages are susceptible to default, though at different times when the right amount of economic volatility shakes the financial markets, according to a new report from the National Bureau of Economic Research. However, the factors that end up leading each type of mortgage into default are often quite different.
Wells Fargo [stock WFC][/stock], the largest mortgage lender in the U.S., originated $89 billion new new home loans during the third quarter, up 39% from the previous three months. Income at the bank increased 21% during the quarter on a better performance from its mortgage department. Applications surged too at the end of the traditional buying season, climbing 55% from the second quarter.
A look at stories across HousingWire’s weekend desk, with more coverage to come on bigger issues: Analysts raised another issue with an upcoming mass refinance plan over the weekend: payment histories. The Home Affordable Refinance Program requires borrowers to have a clean pay history over the year prior to entering the program. According to JPMorgan Chase [stock JPM][/stock] analysts, this could be a problem for the roughly one-third of these borrowers who had a least one delinquency in the past 12 months.
Many housing counseling agencies saw their government funding dry up on Oct. 1, 2011, the same day that QuickCert, a non-profit agency devoted solely to reverse mortgage pre-application counseling, opened its doors, boasting quick “turn times” compared to other agencies with two to three-week-long waiting lists. Before transitioning into a Department of Housing and Urban […]
The market for bonds backed by commercial real estate recovered over the last 18 months but growth in the third quarter has stalled, said property market researchers Friday. “There’s been a little bit of a stumble in the third quarter,” said Ben Thypin, director of market analysis for Real Capital Analytics, a commercial real estate research firm, in a presentation at the Appraisal Institute’s annual fall conference in San Francisco.
The Reverse Review, a reverse mortgage trade publication, has been acquired by Reverse Publishing, LLC, for an undisclosed sum. Reza Jahangiri, CEO of American Advisors Group is the majority owner of Reverse Publishing, with Erik Richard, CEO of Landmark Reverse as a partner in the new venture. The future of the publication was unknown after AppraiserLoft […]
In case you missed it…it was a lively week in the world of reverse mortgages. MetLife Inc. put its “forward” mortgage business up for sale. A MetLife rep assured RMD that the global insurance company is keeping its reverse mortgage operations, however. “We determined that remaining in the forward mortgage business would require the company […]
Investors are extremely enthusiastic about acquiring Fannie Mae, Freddie Mac and Federal Housing Administration REO properties in bulk and renting or selling them, Amherst Securities Group said Friday.
Pulte Group Inc., the biggest U.S. homebuilder, hired a new division president for its Houston operations just days after the head of its mortgage unit was named chairman-elect of the Mortgage Bankers Association, a research and lobbying group for the mortgage industry. Kevin Meuth, a division president for Meritage Homes for the past five years, Friday was named Pulte’s Houston division president. He will oversee about 100 employees and 27 communities in the metro area.