Mortgages

The election reflects a battle between two administrations that have had different philosophies on risk sharing the GSEs do with private investors.

The monthly pace of growth in applications for new single-family constructions fell for the first time in 2024, according to the Mortgage Bankers Association.

Hugh Frater was one of four appointed to the Bipartisan Policy Center board, along with former Philadelphia Mayor Michael Nutter, a co-chair of its Housing Council.

With the landmark Supreme Court decision overturning Chevron USA v. National Resources Defense Council, much of the rule making by the Federal Reserve Board, the SEC, HUD and other agencies is now open to attack, writes the Chairman of Whalen Global Advisors.

A planned update to the core Reg X servicing rule is needed but the industry wants more time to eye it with several new proposals pending in an election year.

Year-over-year consumer dollars for home remodeling projects should drop 0.5% by 2Q25, after a 3% decline for the trailing 12 months, said the Joint Center for Housing Studies of Harvard University.

Gow's addition is the latest major leadership development at the firm, which also named a new chairman and CEO this year but saw the recent departure of its chief technology officer.

Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.

Nearly all of the economists surveyed by Wolters Kluwer in July expect the FOMC to reduce short-term rates, but less of them expect it to happen at the September meeting than the number who believed so last month.

The proposal would add reforms aimed at broadly prioritizing owner-occupant access and end the "test" or "demonstration" mode these sales have been in since 2002.

The number of properties sold over the past year was the fewest since 2009, the National Association of Realtors said.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

It has become the 29th state to bar NTRAP contracts, with Illinois' legislation on it pending the governor's signature, according to American Land Title Association data.

Total housing starts increased 3% to a 1.35 million annualized rate last month, driven by a 19.6% surge in multifamily construction, according to government data released Wednesday.

Refinance transactions shot up over 15% to their highest volume in almost two years, the Mortgage Bankers Association said.

Some commenters on the Federal Housing Finance Agency's request for input about the Federal Home Loan Bank system mission demand more focus on affordable housing while others firmly advocated against member incentive programs.

Rocket Mortgage relied on a biased appraisal when it denied a borrower's refinance application in Denver three years ago, the housing agency claims.

Amid a rocky re-election campaign, the president announced the Biden-Harris Housing Plan, calling on Congress to incentivize landlords to cap rents and enable the construction of two million homes.

Further efficiencies could aid servicers, and improved performance may be a reason for lenders to open the credit box, experts at an Urban Institute event said.