Show notes: TMSpotlight: 07-22-2024 Bulls Say "Welcome to Paradise" --------------------- Dear Powell, Can you hear Jobs whining? It's been three whole years since inflation felt your hold. Despite declining volatility, the new bullish trend remains solid. News continues to affirm that two rate cuts make long-term rates happier … [Read more...]
A New Era for FHA 203k: Significant Reforms Announced – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. There was big news coming out of HUD last week, and it was a big win for our industry, with HUD announcing significant updates to FHA's 203k Rehabilitation Mortgage Insurance Program. The key changes, for which MBA advocated, included … [Read more...]
FHA 203K Reforms and Market Shifts, Hidden costs of Homeownership and Other Industry Updates!
Show notes: TMSpotlight: 07-15-2024 "Espresso" ------------------------The markets movin’ in a tight range. Isn’t that sweet? Try not to sleep. Don’t you need Espresso? Some news gives you a jolt. Then you see the screen blink red and green because it's speculating about nothing. No easing, high inflation. High easing, no growth. No liquidity. … [Read more...]
Cybersecurity Incident Reporting: MBA Urges FHA for Consistency with Ginnie Mae – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. In response to a recently released FHA mortgagee letter mandating effective immediately that lenders report significant cybersecurity incidents to FHA within 12 hours, MBA submitted comments urging FHA to align its reporting timeline … [Read more...]
July Market Dynamics: Fed Rate cut, Chevron Ruling, Data Breaches and the Role of AI in Mortgages and Other Industry Updates!
Show notes: TMSpotlight: 7.08.24 Liquidity is running dry, "It’s So Lonesome it Could Cry."---------------------Hear that lonesome Repo well. It sounds too low to fly. Last week, the implied likelihood of a September Fed rate cut rose to 73%. Over a week ago, it was 62%. Bonds cry for a “higher for longer” Fed. But the fall of the dollar and … [Read more...]
Ginnie Mae FY 2025 funding request – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, an MBA led coalition of major housing trade groups sent a letter to the four key House and Senate appropriators urging full funding of the $67million fiscal year 2025 request for Ginnie Mae's salaries and administrative … [Read more...]
FHFA Approves Freddie Mac Pilot for Closed-End Second Mortgages – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. FHFA late Friday announced the conditional approval of a new product proposal that would allow Freddie Mac to purchase certain closed end second mortgages. At first glance, MBA appreciates FHFA's detailed responsiveness to the key … [Read more...]
Profitability challenges amid NAR settlement, and the Future of Real Estate Commissions and Other Industry Updates!
Show notes: TMSpotlight: 7.1.24 Segmentation, disinflation, pro-inflation; obligation, "Ball of Confusion" ----------- People selling out, people buying in because of the color of their screens. With the Fed listening to Bonds and data, look for 30-year mortgage rates to stay below 7.75 and reach 6% by yearend while the 10-yield … [Read more...]
FHFA approval on Second Mortgage, Bond Market and Other Industry Updates!
Show notes: TMSpotlight: 06-24-2024 Affordability Remains an Obstacle and Servicing values will Drop, it's a "Ball of Confusion" ----------- People selling out, people buying in because of the color of their screens. With the Fed listening to Bonds and data, look for 30-year mortgage rates to stay below 7.75 and reach 6% by yearend … [Read more...]
VA’s New Temporary Variance on Buyer Broker Compensation for Veterans – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute. The latest news from the Mortgage Bankers Association. The Department of Veterans Affairs last week released a circular that creates a temporary local variance for charges related to buyer broker compensation. As you know, veterans are typically prohibited from paying for buyer broker … [Read more...]
Inflation, Interest Rates, and Political Turbulence: Expert Insights on Market Trends and Other Industry Updates!
Show notes: TMSpotlight: 06-17-2024 Bond "Barracuda"------------------Bears, this is the end; Bulls rise up again - to reignThey had to take the trend away. Bond barracuda kept the Fed in line, resulting in a new bull market. Long-term, look for the 10-year yield to stay below 5% and mortgage rates below 7.75. Imagine a sub-6% 30-year … [Read more...]
CFPB Final Rule on Non-Bank Registry: Implications for Mortgage Lenders and Servicers – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute. The latest news from the Mortgage Bankers Association, the CFPB, last week, published a final rule creating a registry of non bank covered persons subject to certain agency and court orders. This final rule requires covered non banks that are subject to certain agency or court orders to … [Read more...]
Analyzing Mortgage Closing Costs: CFPB’s Request for Information and Industry Response – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute. The latest news from the Mortgage Bankers Association. The CFPB last week released its anticipated request for information regarding fees imposed in residential mortgage transactions. The RFI seeks input from industry participants, consumers and others on the impact closing costs have had … [Read more...]
Updates on VA Buyer Commission Prohibition and Industry Developments – MBA Mortgage Minute by Adam DeSanctis
[Adam] Hi, I'm Adam DeSanctis, this is the Mortgage Minute. The latest news from the Mortgage Bankers Association. Last week at MBA secondary in New York City, the VA announced that it will release a circular by June 12 to address the buyer commission prohibition. The circular will be in place while a formal rulemaking process occurs. As you may … [Read more...]
CFPB Ruling on Non-Bank Entities, Importance of Customer Service, Blockchain in Mortgage and Other Industry Updates!
Show notes: TMSpotlight: 06-10-2024 Is Data "Tutti" or "Fruiti"? ------------------------- “Little Richard, what about the data-sensitive market?” Tutti Frutti, go uppie. Tutti frutti, go downie. Tutti Frutti, go uppie. How many angels can dance on the head of a pin? About half. Yet traders keep dancing with every datum as if it changes … [Read more...]
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