Smarthome.com - shop now!
 

National Mortgage News

 

Continued Deterioration in Origination Quality

 

As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis.

During the past three years, the quality of residential loans originated has weakened, though credit quality remains far stronger than the early 2000s and the late 1990s.

Components of borrower character like credit scores are the strongest feature of current mortgage originations, and they have weakened little over the past few years.


Best Mortgage Lenders By Category

 

A report based on a recent survey of consumers who were shopping for a residential loan has identified the best home lenders in a variety of categories -- including government programs, jumbo loans and online services.

The 10-question survey of prospective mortgage borrowers found that before they applied for a home loan, 40 percent checked their credit report or credit score.

Saving for a down payment was cited by 36 percent. More than a quarter reported that they paid down debt, while nearly a quarter indicated they reduced spending.


Business Falls to 6-Month Low at Freddie

 

New business at the Federal Home Loan Mortgage Corp. retreated to its lowest level in six months. Delinquency, meanwhile, remained at its lowest level in a decade.

When September was over, Freddie Mac's total mortgage portfolio stood at $2.1513 trillion -- including a $0.2278 trillion in mortgage investments and $1.9235 trillion in outstanding mortgage-related securities and other guarantees.

The McLean, Virginia-based company revealed the metrics in its Monthly Volume Summary, which indicated that the book of business had expanded from $2.1472 trillion a month earlier and $2.0568 trillion a year earlier.


Large Agency MSR Offering Hits Market

 

Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.

Mortgage servicing rights on 20,168 residential loans that had a collective unpaid principal balance of $5.232 billion as of Sept. 30 are being sold through the auction process.

Included in the offering are MSRs on $2.005 billion in Fannie Mae loans, $0.310 billion in Freddie Mac mortgages, and $2.917 billion in Ginnie Mae l loans.


Mortgage Rates Up 92 BPS From Year Ago

 

Over the past year, weekly fixed interest rates on single-family loans have soared 92 basis points. But little change was reported from last week, and more of the same is expected.

On conventional loans utilized to finance a home purchase with amounts up to the conforming mortgage limit of $453,100, thirty-year fixed rates averaged 4.77 percent during September.

Compared to the previous month, conforming interest rates slipped a single basis point. Mortgage rates have soared, however, 63 BPS from September 2017.


 

Fannie Mae: Home sales to stabilize in 2019

 

Although economic growth is expected to slow in the new year, new data suggests the housing market will stabilize come 2019, according to Fannie Mae. Find out why.

Zumper: The American dream of homeownership fades

 

This year, navigating the landscape of American housing has proved to be rocky for both renters and homeowners. As 2018 comes to an end, Zumper, a rental listing site, has revealed for many Americans, the dream of homeownership is fading. Here's why.

Juniper Square raises $25 million to help make it easier to invest in real estate

 

Juniper Square, a technology company that helps connect investment firms with private capital to be used to invest in real estate, announced this week that it raised $25 million to help grow its business. “Our mission is to transform the world’s private capital markets through software,” said Alex Robinson, Juniper Square’s CEO and co-founder.

What kind of real estate appreciation will the fourth largest MSA see?

 

With a growing population and bustling business growth, the Dallas-Fort Worth-Arlington MSA is projected to see some growth in real estate appreciation but may be softening in the coming months. Read Eric Fox's analysis for more detail.

Here is everything you need to know about the HW Tech100 Award

 

Nominations have already started coming in for HW’s Tech100 Award. But along with those nominations have also come a flood of questions. We compiled the top questions, along with the answers, to make sure you’re ready to submit the best nomination you can.

Redfin: Housing inventory accelerates to 3-year high

 

In November, housing inventory climbed 5%, marking its fastest growth in the last three years, according to new data from Redfin. Redfin Chief Economist Daryl Fairweather said the tide has turned. Here's why.

Zillow to begin buying houses in California, North Carolina

 

It seems to be all about expansion these days for Zillow. The online real estate giant recently got into the mortgage business with its acquisition of Mortgage Lenders of America. Zillow has also been growing its direct buyer business, Zillow Offers, wherein the company is buying houses directly from sellers then lists the home for sale. And the company will soon be buying houses in California and North Carolina.

Single women outpace single men on the path to homeownership

 

American wage disparity keeps the average American woman making 20 cents less than her male counterpart, but data suggests that when it comes to homeownership, single women take lead. LendingTree’s latest analysis revealed that on average, single women own around 22% of homes, compared to the less than 13% of single men.

Anthony Scaramucci’s SkyBridge Capital planning big investment in Opportunity Zones

 

There’s a new notable name among those who plan big investments in Opportunity Zones – Anthony Scaramucci. Scaramucci famously served as White House communications director last summer, before flaming out in just 10 days. After returning to his Wall Street roots, Scaramucci's firm is planning to invest in Opportunity Zones.

WhyHotel raises $10 million to expand service that turns empty apartments into hotels

 

WhyHotel, a company that works with developers to turn newly built unleased luxury apartments into hotels, is set to expand thanks to a new capital raise. The company announced this week that it raised $10 million in its Series A funding round. The news comes just a few months after the company raised just shy of $4 million in its seed funding round.

It’s official: Trump nominates Mark Calabria to lead FHFA

 

Late Tuesday night, President Donald Trump announced his choice to lead the Federal Housing Finance Agency – Mark Calabria. Calabria’s nomination must still be approved by the Senate, but with his extensive background in housing, and a Republican majority in the Senate, that isn’t expected to be a problem.

Airbnb settles with Aimco after being accused of allowing illegal short-term rentals

 

The legal battle between Airbnb and the Apartment Investment and Management Company over Aimco’s claims that Airbnb was encouraging residents to violate their leases by renting out their apartments on the short-term rental platform is now over. And everyone appears to be pleased.

CoreLogic: Here’s what will be making economic news in 2019

 

CoreLogic released its predictions for 2019, outlining several factors that will be making economic news in the new year. CoreLogic’s chief economist explained that economic growth only needs to last seven more months in order to set the record for the longest economic expansion.

Wise Agent names Jason Frazier chief marketing officer

 

Wise Agent hired Jason Frazier as its chief marketing officer, the company announced this week. Frazier, a known marketer in the mortgage industry, will be responsible for modernizing email marketing and social content for Wise Agent’s CRM system.

CFPB moves to further ease enforcement on financial services industry

 

In the last few days of his leadership at the Consumer Financial Protection Bureau, Mick Mulvaney moved to further ease the bureau’s enforcement of the industries that it oversees. Additionally, the CFPB proposal would create a “Product Sandbox,” which would allow and encourage companies to create and test new products and services under safe harbor provisions from the bureau itself.

What would Mark Calabria as FHFA director mean for the future of Fannie and Freddie?

 

The Trump administration has officially nominated Mark Calabria to be the next director of the FHFA when Mel Watt’s term is up early next year. But what would Calabria bring to the FHFA and what might that mean for the future of Fannie Mae and Freddie Mac? Here's a look at what's next, from those in the know.

Homelessness accelerates in expensive rental markets

 

As more and more Americans become rent burdened, the homeless rates in the nation’s most unaffordable markets continue to grow, according to the latest data from Zillow. Zillow Director of Economic Research and Outreach Skylar Olsen said that although the nation’s homelessness rate has fallen, some communities are still grappling with affordability.

Democrats choose Rep. Maxine Waters to lead House Financial Services Committee

 

The Democratic Steering and Policy Committee nominated Rep. Maxine Waters, D-Calif., late Monday to lead the Financial Services Committee. Waters will be the first woman and African American to chair the committee. Of course, her nomination must still be approved by the Democratic Caucus.

Redfin: Number of sight-unseen home offers retreat

 

As inventory increases and home price growth slows down, homebuyer competition has begun to ease, according to the latest data from Redfin. Redfin Agent Jessie Culbert said now that most homes are staying on the market for longer than a week, there just isn’t as much pressure for buyers to make offers so hastily.

TCI, Southern Properties Capital, Macquarie partnering to build significant multifamily portfolio

 

Southern Properties Capital, a subsidiary of real estate investment company Transcontinental Realty Investors that operates primarily in Texas and specializes in Class A multifamily, is forming a joint venture with a subsidiary of Macquarie Group, the global finance giant. According to the companies, the joint venture will focus on creating a “business platform that will allow dramatic expansion in the multifamily arena.”

This is what the housing market could look like in 2019

 

In 2018, the housing market experienced its fair share of up and downs, attributed to many factors including affordability and inventory concerns. But as the year comes to an end, homebuyers will be walking into 2019 with more pep in their step. Here’s why.

Minneapolis is about to abolish single-family residential zoning

 

In a move that strikes a blow against decades of racial inequality and could prove to a boon to multifamily developers, the city of Minneapolis is on the verge of ending single-family residential zoning. Under the plan, duplexes and triplexes would be allowed in neighborhoods that only previously allowed single-family housing.

The end of Fannie, Freddie conservatorship? Trump reportedly picking Mark Calabria to lead FHFA

 

Long-time housing finance reform advocate Mark Calabria is reportedly the Trump administration's choice to lead the FHFA after Mel Watt's term ends early next year. Calabria currently serves as Vice President Mike Pence's chief economist. As Pence's economist, Calabria famously called for the end of the conservatorship of Fannie Mae and Freddie Mac. Is that a sign of things to come?

Monday Morning Cup of Coffee: Appraisers may not get paid as CoesterVMS runs out of money

 

Sources continue to inform HousingWire of new information regarding CoesterVMS as it appears it may be running out of money and leaving some appraisers unpaid. Plus, find out what the housing industry thinks of the new director of the Consumer Financial Protection Bureau.

Experts: Wage growth could further rate hikes in 2019

 

In November, the unemployment rate held steady at 3.7% and wages rose slightly, leading some experts to predict the likelihood of continual rate hikes in 2019. Despite these concerns, one expert believes homebuyers will end the year on a jolly note.

 

eBooks Available For Immediate Download & Enjoyment!