Mortgage Financing Archive

REALTORS® Ease Closing Cost Woes in N.Y.

Closing costs in New York state are high, so you can imagine that coming up with the money for first-time buyers is a challenge. That was a problem the New York State Association of REALTORS® identified several years ago,...

Will Regulators Make the QRM Mistake All Over Again?

It’s the QM rule’s turn in the spotlight, and so far a federal proposal raises concerns If you’re applying for a loan, what determines whether or not you can repay that loan? That’s what a federal regulator is trying...

Court Side: Supreme Court Should Settle Contentious RESPA Issue

News Flash: On May 24, the Supreme Court decided in favor of NAR’s position on the Quicken case (discussed in this April 30 post). Here’s a link to the decision. Guidance from NAR will be forthcoming soon. Earlier this...
April 30, 2012

At the Bottom, but Maybe Not for Long

The Wall Street Journal today says the housing market nationally is bottoming out, the essential first step before it can start rising again. But the Journal is a little pessimistic that the upward bounce is coming any time soon....
April 30, 2012

How to Submit Offers for Fannie REOs

REOs and other distressed sales make up about a third of the market today on a national basis and NAR’s just-released Investment and Vacation Home Buyers Survey shows that distressed homes comprise about a quarter of the homes bought...
March 29, 2012

43 Million More Housing Units to Sell and Rent

Between now and 2050, the U.S. is expected to grow to about 403 million people. It’s about 310 million today. That’s almost 100 million more people and they have to live somewhere, and looking at today’s total inventory of...

How to Unleash Pent-Up Housing Demand?

Any way you slice it, pent-up demand for home ownership is building: people are doubling up rather than starting their own households, and the rents they’re paying are increasing even while affordability on the ownership side is better than ever....

Obama: FHA Premiums Lowered for Refis

FHA is lowering its mortgage insurance premiums to help borrowers refinance into lower interest rates, President Barack Obama announced yesterday in a national press conference at the White House. The initiative also includes help to members of the military...
March 7, 2012

What’s the State of FHA’s Reserves?

There’s been considerable interest in the media in FHA’s financial position. The agency recently announced several increases to the premiums it charges borrowers to have their mortgage guaranteed by the agency. Those increases, along with some reports that FHA...
March 2, 2012

Standards, No Matter the Valuation Method

In response to the increased use of broker price opinions and other types of valuation methods other than appraisals, NAR has come out with what it calls its Responsible Valuation Policy statement. It’s intended to provide a framework for...
February 29, 2012