Mortgage Financing Archive

650,000 Leave Prison Each Year: Impact on Real Estate

Almost a third of Americans—100 million people—have a criminal record, and 650,000 are released from prison each year, adding to the total. This relates to housing because the U.S. Department of Housing and Urban Development recently released guidelines to...
April 27, 2016

Why QRM is Such a Big Win for Real Estate

Much of what NAR does in Washington is defensive: it works with Congress to prevent curbs to the mortgage interest deduction or to prevent elimination of federal backing of conforming mortgage loans. The qualified residential mortgage (QRM) rule that...
November 3, 2014

About That FHA Prepayment Penalty . . .

News that FHA will eliminate a prepayment penalty starting next year has been widely reported. It’s a move NAR has been seeking for some time because it will relieve borrowers of a financial hit that’s entirely out of their...
September 11, 2014

FHA Premium Increases Taking Toll

Mortgage originations among borrowers in the 620 to 680 credit score range have plunged some 90 percent since the housing crisis in 2007 and still have far to go before they recover. One thing that’s holding back these borrowers...

Brown Meets at White House as Mortgage Reform Gains Steam

NAR President Steve Brown met at the White House with the federal government’s top housing officer, HUD Secretary Shaun Donovan, and the head of the National Economic Council, Jeffrey Zients, on the reform of the secondary mortgage market yesterday....
March 21, 2014

Mortgage Availability Tightening? QM Takes Effect Today

NAR has been working with federal regulators since Congress in 2010 passed massive banking reform legislation, part of which created the qualified mortgage and qualified residential mortgage rules. Today is an important day in the timeline of those rules,...
January 10, 2014

Thomas Presses on Gov’t Backing, Loan Limits

NAR President Gary Thomas in testimony before the Senate Banking Committee this week again took aim at a proposal floated by a federal regulator to reduce the size of loans that Fannie Mae and Freddie Mac can handle. Although...
October 30, 2013

QRM: Regulators Agree with NAR But Deal Not Done

Federal banking regulators have re-proposed the qualified residential mortgage (QRM) rule, which requires lenders to hold back 5 percent of the loan amount on securitized home mortgage loans unless they originate the loans based on “safe” guidelines, which are...
September 11, 2013

Lenders: What’s Holding Back Loans

Despite the improving economy, home loans even for well-qualified borrowers are still unnecessarily hard to get and take too long, real estate practitioners say. But lenders take a different view. In a roundtable with three of the country’s largest...
March 13, 2013

Investors Fed Bad Info During Boom

Researchers from Columbia University and the University of Chicago have done mortgage investors a big favor by teasing out two examples of how investors were fed bad information on the safety of so-called private-label subprime mortgages during the housing...
February 15, 2013