Mortgage Financing Archive

Senate ‘Cliff’ Bill Retains Mortgage Cancellation Relief

Tax rates would remain the same for most households and mortgage cancellation relief is extended in a budget package passed by the U.S. Senate early this morning to avert the so-called fiscal cliff. The House today could take up...
January 1, 2013

Update on Fiscal Cliff: What’s at Stake for Real Estate

Congress today (Dec. 31) continues to wrestle with what to do about the fiscal cliff, the hundreds of billions of dollars in automatic tax increases and federal spending cuts that take effect at the end of the year unless...
December 31, 2012

QM, QRM to Lock in Tight Loan Standards

Home mortgage originations will shrink by up to 20 percent and the economy as a whole clipped by 1.1 percent over the next three years if federal regulators proceed with their proposed qualified mortgage (QM) and qualified residential mortgage...

Bernanke: Loan Standards Easing

One of the main questions hanging over the Federal Reserve’s plan to buy up to $40 billion a month in mortgage-backed securities (MBS) to help spur the housing market is whether continuing tight underwriting requirements will offset any positive...
September 20, 2012

Action on Loan Standards Needed More than on Rates

The Federal Reserve hopes to drive down already low interest rates and reboot the sluggish economic recovery by buying up some $40 billion in mortgage-backed securities a month. But there’s a reason to wonder if a different kind of...
September 17, 2012

Chase: Overlays are to Protect Loans, Not Avoid Repurchases

Two Chase executives hosted a webinar earlier this week to share with NAR members how their bank’s loan processing works. They talked about the documents they require borrowers to submit, the common application problems they’ve identified, and what some...
September 6, 2012

Refis Good, But Purchases Are Key to Growth

Thanks to low interest rates, home owners are refinancing their home mortgages in sizable numbers, and that’s great for them and for the economy, because it helps free up money that can be put to other uses. A Bloomberg...
August 15, 2012

QM, QRM, Basel III: Mortgages for the Wealthy

Capital and mortgage financing rules being drafted in Washington and elsewhere raise the possibility that the United States will become increasingly split between affluent home owners and less affluent renters, because lenders will be constrained to stay within tight...

Libor: The Big Fix

Perhaps you’ve just noticed the headlines emerging around Libor, or maybe you haven’t even seen them yet. Either way, this story, which has been in the European press for a few weeks now and is just now starting to...
July 13, 2012

Lenders: Staffing, Appraisals Hold Back Loans

Insufficient staff to process loan applications and to get timely and accurate appraisals are two of the reasons lenders say are impeding their ability to originate and purchase more home loans, results from the Federal Reserve’s most recent quarterly...