Mortgages

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

COVID-19 concerns, inflation hold back actions that might change current patterns.

The Federal Housing Finance Agency is looking to revise the framework intended for when Fannie Mae and Freddie Mac exit conservatorship in order to encourage the transfer of credit risk to private investors.

The varied portfolio includes loans with strong credit profiles, a WA FICO score of 734 and an original, combined loan-to-value of 68.3%.

Changes made in the waning days of the previous administration limited the government-sponsored enterprises’ purchases of certain loan types, which drew criticism from lenders and community groups alike.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

The pandemic, a refinancing boom and intensified appraiser shortage boosted appraisal alternatives in line with the rise in remote work. Now an overheating purchase market and policymaker scrutiny are shifting priorities.

Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

About 400,000 plans are scheduled to drop out in September based on the limits afforded by the CARES Act.

The 30-year average has remained below 3% for two months.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

More than 500,000 houses were potentially affected by this type of damage from the more recent storm, which was the second-most intense storm in Louisiana’s history.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.

Distressed homeowners who first took advantage of deferrals in March of last year will either start repayment or look for new solutions in September.

None of the leading areas ranked by investor share of sales were in the Golden State during 2020, in contrast to the state’s dominance on the list in the wake of the Great Recession.

All but 501 of the loans in the pool were assessed following the new general QM rule. Otherwise, the pool is largely comprised of jumbo, prime loans.

The end of many COVID relief plans in September have the industry holding its breath, with outcomes potentially foreshadowing the months to come.