- CFPB’s Kraninger agrees her job security is unconstitutional September 18, 2019
Consumer Financial Protection Bureau Director Kathy Kraninger is siding against her own job security by agreeing with the administration that the CFPB director should be allowed to be fired by the President at will.
- America's housing starts spike to 12-year high in August September 18, 2019
Housing starts spiked 12.3% in August to a seasonally adjusted annual rate of 1.364 million and the pace for July was revised downward, according to the Department of Housing and Urban Development and the Department of Commerce. Joel Kan, The Mortgage Bankers Association Vice President of Economic and Industry Forecasting, said low mortgage rates coupled […]
- Last week's jump in U.S. Treasury rates sends nation's refinance activity into decline September 18, 2019
Mortgage rates climbed to a seven-week high over the last several days, driving the nation's refinance activity into decline, according to the Mortgage Bankers Association’s weekly Mortgage Applications Survey. That being said, the MBA indicates the nation's purchase activity soared, as the index increased for the third straight week to the highest reading since July.
- Housing industry calls for end of QM Patch, DTI limit September 17, 2019
Prominent members of the housing industry are calling for an end to the QM Patch, and reform for Qualified Mortgages. Here are some suggestions housing experts have for the CFPB and the future of the QM Patch.
- Homeowners appear to be feeling good about the economy. Should they? September 17, 2019
For all of 2019, single-family housing authorizations – what some consider a key indicator of historic recessions – have been decreasing. However, existing housing maintenance – what BuildFax refers to as “a gauge of consumer confidence” – is rising consistently again after six months of decreasing activity. So what gives?
- Fannie Mae: Cheap mortgage rates will push 2019 refinancings to three-year high September 17, 2019
Fannie Mae released a forecast on Tuesday that has 30-year fixed mortgage rates falling to an average of 3.5% in the fourth quarter from 3.6% in the current period, which will boost refinancings to a three-year high. The nation’s biggest mortgage financier said refinancings probably will reach $699 billion in 2019, a 31% jump from […]
- Better.com launches expansion in Charlotte, plans to hire 1,000 new employees September 17, 2019
Having raised well north of $150 million in capital this year alone, digital mortgage company Better.com is in full growth mode. According to details provided earlier this year by the company, Better has added more than 500 new employees in the last year and planned to hire at least 400 more this year. But the […]
- Calabria: Fannie Mae and Freddie Mac won’t privatize until 2020’s end or later September 17, 2019
The federal regulator for Fannie Mae and Freddie Mac said the nation’s largest mortgage financiers won’t be privatized until the end of 2020 at the earliest. “It really depends on how quickly they raise capital,” said Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview on Bloomberg TV.
- Life insurance companies to fuel multifamily surge in 2020 September 17, 2019
Life insurance companies are set to create a surge in multifamily lending in 2020, according to a new study from the Mortgage Bankers Association. This should help propel multifamily originations, which are set to hit yet another all-time high in 2020, according to the MBA.
- Nearly half of Americans have anxiety over their debt September 17, 2019
Adults in the U.S. over the age of 18 say they have an average of $29,800 in personal debt (not including mortgages), and 15% of Americans say they think they will be in debt for the rest of their lives. Beyond that, 45% of Americans surveyed said that debt makes them feel anxiety on at least […]