Investor purchases appear to have been behind some of the unusually high home price appreciation in parts of the United States over the past year, and those purchases may be leveling off, according to Fannie Mae."The pickup in the investor share has been greatest in some of the areas with the largest rise in home prices (e.g., Las Vegas, San Diego, Monterey)," Fannie Mae chief economist David Berson said in a report released Oct. 18. "When investors decide to leave the housing market (as they always do at some point), demand growth will slow (indeed, the level of demand could decline) and supply growth will rise (as investors put their properties on the market). We may be seeing the beginning of this today." Senior economist Orawin Velz told MortgageWire that the report was based on a comparison of home price appreciation data from the Office of Federal Housing Enterprise Oversight and data from San Francisco-based LoanPerformance Inc. on the investor share of purchase mortgage originations.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25