Mortgages

Also: Critical defects in mortgage files reach highest level in years, interest rates tick up

Ginnie Mae is allowing lenders to securitize modified home loans with this extended term as the Biden administration works to make more housing options available for struggling borrowers.

Even though volumes are expected to taper from 2020’s record highs, lenders plan to take on more employees in 2021, according to the Mortgage Bankers Association and McLagan Data.

The Supreme Court decision cleared the way for further revisions to the agreements between the Federal Housing Finance Agency and the Treasury, which could include dismissing the January changes.

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

The now-interim leader of the Federal Housing Finance Agency would give the mortgage industry much-needed stability following Calabria’s calamities, writes the head of Whalen Global Advisors.

A Realtor.com survey of consumers aged 18 to 25 found that 45% share are already saving for a home.

Median home prices are higher than the historical average in 61% of U.S. counties, Attom Data Solutions said, and it's unclear if the situation gets better or worse.

The White House extended the foreclosure moratorium for federally-backed home loans a final month, and government agencies plan to roll out additional measures in July.

Corresponding Treasury yields seesawed over the past week, as some experts see “transitory” inflation persisting.

The Community Home Lenders Association has called for suspension of federal limits on the loan volumes that Fannie Mae and Freddie Mac can purchase from individual lenders. The demand came on the same day that the Biden administration fired FHFA Director Mark Calabria and started the process of nominating his successor.

Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.

The numbers, which include payments suspended for pandemic-related hardships, could be a consideration in the possible further extension of moratoria federal regulators are close to making a call on.

Growing CRE mortgage volumes raised the bar for the coming year despite lingering concerns, according to the CRE Finance Council.

Increases in refinances, both in applications and average size, help lead overall numbers higher

For all respondents, cash edged financing by one percentage point, but half of those that bought last year used cash, ServiceLink found.

Shipping bottlenecks and higher input prices have held back homebuilding, contributing to skyrocketing prices for the limited supply of homes available.

The move is a vote of confidence for the private market in financing, which has been revitalized by limits government-related investors have put on certain loan purchases.

The financial services company will use its new capital to invest in artificial intelligence and machine learning to cut transaction times, as well as build its own servicing platform.

Evaluations for payment reduction still represent a relatively small share of home retention actions but their uptick could add incrementally to servicers’ workloads.