Mortgages

Despite the rising number of COVID infections, investors made no moves that would apply downward pressure.

The Reserve Bank of Dallas data in housing prices hints at a so-called ‘episode of exuberance,’ but the central bank is a long way from sounding the alarm.

Mortgage performance in November was improving, coming close to crossing a key threshold for pandemic-era recovery, but Omicron raises questions about whether that trend will continue.

However, the serious delinquency rate dropped to a point significantly below the market-wide average, and much of the foreclosure activity allowed to proceed did so with new consumer protections in place.

With resources provided through the Homeowner Assistance Fund, the $1 billion plan will help cover homeowners’ past-due payments and comes after New York unveiled a similar assistance package earlier this month.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

The central bank’s new tone has many in the industry planning for potential volatility in 2022.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.

The Federal Housing Finance Agency found several comments that could lead to fair lending concerns in the “neighborhood description” section of reports.

Error findings related to income and employment reached a high point since Aces Quality Management started its report in 2016.

Activity is down 20% from one year ago, driven by a 65% falloff in rate and term refinancings, Black Knight said.

However, the seven institutions in the Office of the Comptroller of the Currency study service 13% fewer loans compared with the third quarter of last year.

While over 112,000 loans exited plans in the past week, there is only a modest opportunity for continued improvement in the near term, Black Knight said.

Canada’s national pension fund struck its first partnership to build and rent out single-family homes in the U.S., joining a rush to capitalize on a housing shortage.

But rising rates and tightening affordability are slowing appreciation rates, Black Knight found in its latest Mortgage Monitor report.

The U.S. Treasury Department will begin developing regulations that could expand reporting requirements for all-cash real estate purchases as part of the Biden administration’s efforts to cut down on global corruption, according to two senior administration officials.

Similarities between the current rate of appreciation and what took place between 2004 and 2006 are mitigated by changes in the housing market.

In November, employment increased by 1.14 million in the household survey but payrolls rose by just 210,000 in the employers survey, the biggest gap since October 2020.

Besides making the deduction permanent, the bill doubles the income threshold for those eligible to claim it.

Axylyum, which recently released information about its first named client, offers an alternative to other forms of risk sharing for private companies originating income-producing mortgages.