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Posted To: MND NewsWireCoreLogic says flipping is back. The term applies to the act of buying, renovating and/or repairing a house, then reselling it, all within a short timeframe. Investors who specialize in flipping are always out there, but when prices are rising, or appear about to, lots more people join in the game. Bin He, writing in...
Some low-income buyers don't prepare to get a mortgage: Fannie
A group of low- and moderate-income first-time homebuyers tracked in a Fannie Mae study did not properly prepare to get a mortgage, which created a prolonged and complicated purchase process."Some research participants did not realize the importance of building credit and saving until they wanted to buy a home," Mark Palim, Fannie Mae's deputy chief economist, said in...
Average mortgage rates maintain their steady climb
Mortgage rates continued their climb this week, jumping 5 basis points to their highest level since May 2011, according to Freddie Mac. 30-Year FRM 15-Year FRM 5/1-Year ARM Average Rates 4.66% 4.15% 3.87% Fees & Points 0.4 0.4 0.3 Margin N/A N/A 2.77 ...
SIA and First Data have signed an agreement for SIA to acquire First Data`s...
It's the law: Trump signs off on reg relief bill
WASHINGTON — The most significant regulatory relief legislation since the crisis made it to the finish line Thursday as President Trump signed targeted reforms of the Dodd-Frank Act into law.The new law, which originated in the Senate and was passed by the House Tuesday, did not go as far as the industry and many Republicans wanted. But banks...
Sales of existing homes fall as inventory woes continue
Sales of previously owned homes fell in April to a three-month low as lean inventory continued to stand in the way of further progress while driving up prices, National Association of Realtors data showed.Contract closings fell 2.5% month-over-month to a 5.46 million annual rate (the estimate was 5.55 million) from an unrevised 5.6 million. The median sales price...
Loan performance continued to improve in April, even though Black Knight says mortgage delinquencies have a historic pattern of increasing during that month.  The overall delinquency rate declined 1.6 percent from March to a national rate of 3.67 percent.  That rate is down by 10.17 percent from the previous April.  Black Knight notes, in its "first look" at the month's loan performance data, that...
Can Blend Labs, Ellie Mae get more electronic signatures on mortgage docs?
Improving the borrower experience — and making it more consistent — is one of the primary motivations behind the recent development and adoption of digital mortgage technology.Blend, developer of a consumer-direct point of sale system that enables automated borrower self-service mortgage applications, is introducing electronic disclosure delivery to its borrower interface in an effort to provide a more...
The conference this week? I attended various presentations dealing with housing finance and the economy in general. Even in the face of rising rates, the outlook on the housing market is bullish for prices – but with continued inventory problems. Labor shortages and environmental provisions/local zoning are expected to continue to contribute to extended times to complete the...
Fannie Mae: State housing finance agency mortgages may default less than traditional loans | 2018-05-24
Affordable lending programs administered through state Housing Finance Agencies have limited studies specifying how those mortgages compare to regular mortgages, but a recent analysis conducted using Fannie Mae data suggests that HFA mortgages are less likely to default. As part of Fannie Mae and Freddie Mac’s strategic plan...

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