The improved economic and financial status of American households accounted for nearly all the growth in the homeownership rate during the 1990s, according to the Mortgage Bankers Association of America.The announcement was based on a study by the Research Institute for Housing America, an independent trust fund of the MBA. "The results of the study highlight the key role that a strong and growing economy plays for raising the homeownership rates, especially for minority households," said Doug Duncan, the MBA's chief economist and senior vice president for research and business development. The study also found that the homeownership gap between white and both Hispanic and black homeownership rates in 2001 did not decline substantially from the levels recorded in 1989, according to RIHA. The study, "Causes of the Increase in Homeownership in the 1990s: A Retrospective View," was conducted by Professors Stuart Rosenthal of Syracuse University and Stuart Gabriel of the University of Southern California's Lusk Center for Real Estate. The MBA can be found online at http://www.mbaa.org.
-
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
1h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
3h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
8h ago -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
In a motion to dismiss UWM's suit, Ramon Walker argues the trademark infringement claim made by UWM is a "pretext to muzzle [his] criticism."
April 16 -
The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.
April 16