Scenic Oaks News
May
MBA Highlights Opportunity For Private Capital Risk-Sharing With GSEs
Posted To: MND NewsWire Maintaining that the conservatorships of Fannie Mae and Freddie Mac (the GSEs) have caused government involvement in the mortgage market to balloon to unhealthy proportions , the Mortgage Bankers Association (MBA) Monday released the second in a planned series of five concept papers offering its solutions. Today’s paper on risk sharing [...]
May
Fannie Forecast Serves up Feast for Housing Recovery Bulls
Posted To: MND NewsWire Fannie Mae’s economic and strategic research team today called the housing recovery “undeterred” after it contributed 0.3 percentages points to economic growth in the first quarter. Doug Duncan, Orawin T. Velz, and Brian Hughes-Cromwick said this was the eighth consecutive quarter that housing has added to growth and the company’s Economic [...]
May
Amateur investors tap 401(k)s to buy homes
In order to get in on hot housing markets, amateur investors are buying up homes and taking risky measures — like tapping their retirement accounts — to fund the deals.
May
Distressed Property Investors Drive Housing Market Optimism
When the authors of the Home Value Forecast predicted a year ago that the U.S. real estate market was going to turn in a positive direction, they just did not think it would happen this quickly.
May
Consumer Mortgage Choice Act Under Fire From CRL
Posted To: MND NewsWire The Center for Responsible Lending (CRL) has released a brief issues paper voicing objections to HR 1077 , The Consumer Mortgage Choice Act. The bill currently sits in the House Financial Services Committee of which its sponsor Representative Bill Huizenga (R-MI) is a member. The bill amends the Truth in Lending [...]
May
MBS RECAP: Reminded of Volatility via Friday Cliff-Diving
Posted To: MBS Commentary MBS Live : MBS Afternoon Market Summary MBS took a running start downhill this morning before reaching the edge of the cliff marked by yesterday morning’s “ledge” of prices. This was the 102-28 area hit after yesterday’s 8:30am economic data, including the weaker-than-expected Jobless Claims figures. MBS would go on to [...]
May
Home Sales Would Rise 15-20 Percent With 720 FICO – NAR
Posted To: MND NewsWire Lawrence Yun, chief economist for the National Association of Realtors® (NAR) said Thursday it might be time to ” dial down the credit stringency .” If the credit scores required for a mortgage returned to the more normal levels of about 720 for conventional loans and 660 for FHA loans, he [...]
May
Senator on a Mission to Change the Way Short Sales Affect Credit Reporting
Posted To: MND NewsWire Senator Bill Nelson (D-FL has asked for an investigation and possible “crackdown” on the manner in which short sales are impacting consumer credit files . Nelson said that short sales are now often reported to the credit agencies using the same code that designates a completed foreclosure. In letters sent earlier [...]
May
Housing Bubble Unlikely, Home Price Appreciation Should Slow – CoreLogic
Posted To: MND NewsWire CoreLogic said today that home prices are projected to increase 3.9 percent on an annualized basis between the fourth quarter of 2012 and the same quarter in 2017. However, a new housing bubble is not likely as market dynamics shift for both supply and demand. Prices rose 7.3 percent in 2012. [...]
May
MBS MID-DAY: Bounce Back/Rally Gains Traction
Posted To: MBS Commentary MBS Live : MBS Morning Market Summary Hopefully, in talking about the half point rally in MBS we’re not unintentionally “jinxing” it, but yeah–there’s a half point rally underway in MBS. This all started out innocently enough as bond markets walked in domestic doors roughly level with yesterday’s closing prices. Those [...]