The Prestwick Mortgage Group of Virginia will auction off a $19 million package of residential servicing rights tied to Fannie Mae loans. The average loan size is $119,228 with the average note rate at 6.02%. All but one of the loans are on properties in Florida. The package has a delinquency rate of 3.7%. The bid deadline is June 9.
Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
President Donald Trump said he wouldn't sign the housing bill, which includes several riders aimed at helping community banks, until Congress passes the SAVE Act.
Delayed development pipelines and tradeoffs plague projects as builders look towards creative financing strategies to cope.
Low immigration and fertility rates paired with aging boomers could weaken the foundation of housing demand over the next decade, the MBA finds.
