From Housingwire and CoreLogic, MHProNews.com learns that the number of mortgage applications filed in the U.S. jumped 4.8 percent for the week ending March 30. The reason, the Mortgage Bankers Association concludes, is more people started the process of buying a home. Refinancing was also on the rise with a […]
Mortgage Applications on the Rise Read More
From Salt Lake City, the Associated Press and the Examiner, MHProNews.com learns that Utah Governor Gary Herbert recently announced a plan to help would-be homeowners with downpayments. Two new mortgage loan programs at the Utah Housing Corporation are available to first-time home buyers and repeat buyers with credit issues or
Utah Programs Help With Down Payments Read More
OriginationNews tells MHProNews.com Peter Carroll, the acting assistant director for the Consumer Financial Protection Bureau (CFPB) in charge of the Office of Mortgage Markets, is examining the Federal Reserve’s loan officer (LO) compensation rule. Jurisdiction for the rule was moved to the CFPB in July 2011 from the Fed’s control
CFPB Examining Loan Officer Compensation Rule Read More
OriginationNews tells MHProNews.com FHA-backed single-family mortgages fell almost ten percent in Feb. from the previous month as lenders originated $16.5 billion in loans. According to HUD, lenders originated $8.4 billion of FHA loans and $6.8 billion of refinanced loans. Purchases fell 18 percent from January. Funding of reverse mortgages totaled
Single-family Loans Fall in Feb. Read More
OriginationNews states according to the Mortgage Bankers Association (MBA), mortgage applications for the week ending March 16 fell 7.4 percent. The refinance share fell to 73.4 percent, the lowest reading since July, 2011, both attributable to the rise in the interest rate. Says MBA chief economist Jay Brinkmann, “With rate/term
Mortgage Apps Fall as Interest Rises Read More
Triad Financial Services, Inc. informs us that Jim Brand, Houston-based regional manager for the manufactured housing lender, passed away March 9 after a brief battle with cancer. With Triad since 2005, Jim previously worked for Associates Housing Finance as Sales Purchase Office Manager. Blessed with good humor and an infectious
Mortgage bankers report applications declined 1.2 percent for the week ending March 2, as refinancing activity slowed. The Mortgage Bankers Association (MBA) reports loan applications fell 1.2 percent on a seasonally adjusted basis, while the refinance index decreased 2 percent from the previous week. Also according to the report, investors
Mortgage Applications Decline Read More
According to research done by Moody’s Analytics and Equifax, the total balance of outstanding home loans dropped $1 trillion, 10.4 percent, in the last four years, an indication of consumers getting rid of debt. Although mortgage rates are at historic lows, credit remains tight, which MHProNews.com has learned could be
Good News, Bad News… Read More
The Senate Banking Committee was told by the National Association of Federal Credit Unions (NAFCU) of their opposition to mortgage reform that would eliminate the federal guarantee on mortgages through Fannie Mae and Freddie Mac and other GSEs (government-sponsored enterprises). The plan originally endorsed by the Obama administration would promote
Credit Unions Testify at Senate Banking Hearing Read More
A credit union in Michigan is reaching out with their Turning Point Home Loan to people with lower credit scores but with enough financial stability worth the risk. Michigan First CU’s vice president of lending, Chris Maynard says, “Take members who lost their job at the height of the financial
Credit Union Loaning to Lower Denominator Read More
Fannie Mae recently reported a net loss of $2.4 billion in the fourth quarter of 2011, compared with a net loss of $5.1 billion in the third quarter of the year. For the full year of 2011, Fannie Mae reported a net loss of $16.9 billion, compared with a loss
Fannie Mae Reports Fourth-Quarter and Full-Year 2011 Results Read More
Mortgage applications decreased 0.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 24, 2012. This week’s results are adjusted for the Presidents Day holiday. The MBA Market Composite Index decreased 0.3 percent on a seasonally
Mortgage Applications Decrease in Latest MBA Weekly Survey Read More
HousingWire tells MHProNews.com the Federal Housing Administration (FHA) will raise the mortgage insurance from one percent to 1.75 percent to make up for the drop in the Mutual Mortgage Insurance (MMI) Fund below the Congressionally mandated two percent, to 0.2 percent. The FHA said the increase will add $1 billion
FHA Insurance to Increase Read More
The Great Southwest Home Show, billed as the World’s Largest Indoor Manufactured Home Show, is packing a wallop of seminars, forums, and workshops in addition to all the vendors and homes from the nation’s foremost manufacturers. March 1 and 2 will be Industry Days with workshops ranging from new financing
GSHS, QuikTrip Center, Tulsa, OK March 1-4 Read More
Mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted basis from one week
Mortgage Applications Decrease Read More
Realtors report existing-home sales rose again in January, marking three gains in the past four months, while inventories continued to dwindle. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3 percent to a seasonally adjusted annual rate of 4.57 million in January
Existing-Home Sales Rise Again Read More
NationalMortgageNews tells MHProNews.com Richard Cordray, the recess-appointed head of the Consumer Financial Protection Bureau (CFPB), made his first appearance on Capitol Hill at a meeting with members of the Senate Banking Committee, some of whom want budget oversight and structural changes to the agency. Cordray says the CFPB is similar
Cordray Ticks off Achievements to Ticked-off Senators Read More
The 54 homeowners at Big W Mobile Home Park in Derry, New Hampshire, are celebrating ownership of their community. The New Hampshire Community Loan Fund (NHCLF) and ROC -NH (Resident Ownership Capital-New Hampshire) are celebrating their birthing of the 100th MHC in New Hampshire. Not one of the 100 has
New Hampshire’s Newest MH Community to Go Co-op Read More
Mortgage applications decreased 1.0 percent from one week earlier, according to data from the Mortgage Bankers Association. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was essentially unchanged compared
Mortgage Applications Decrease Read More
From the Associated Press, MHProNews.com learns that Fed Chairman Ben Bernanke says declines in home prices are hurting consumer spending and could continue to weigh on the economy for years.The comments came during a speech to the National Association of Home Builders in Orlando. The broader economy won’t recover, Bernanke
Housing Crisis Hurting Spending Read More
