Expect single-family mortgage originations to decline by 10% to 20% in 2005, according to two secondary-market economists.Fannie Mae chief economist David Berson sees originations falling from $2.74 trillion in 2004 to $2.15 trillion this year. His pessimistic forecast is based on a 7%-8% decline in home sales and a slowdown in house price appreciation to 3.5%. His crosstown rival at Freddie Mac expects 2005 loan production will decline by only 10% to $2.42 trillion. Freddie chief economist Frank Nothaft is forecasting that home sales will slow by 4%-6% from last year's record pace, and that increases in house prices will slow to 5%-7%. "That would be the slowest in six years," Mr. Nothaft told reporters during a news briefing sponsored by the National Association of Home Builders. Home prices rose by 10.5% last year.
-
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
1h ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
11h ago -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27