Archives For: Industry Alert
FEMA Declared Fire Management Assistance – Texas County Line Fire
FEMA issued a Fire Management Assistance Declaration for areas of Texas affected by wildfires on December 10, 2021 and continuing.
10 Dec 2021
Five Trends Reshaping the US Home Mortgage Industry
Consumer demand for mortgages in the United States has skyrocketed, due to a surge in home buying during the COVID-19 pandemic and as a result of low interest rates that have made refinancing attractive over the past two years.
7 Dec 2021
Black Knight: Number of Mortgages in Forbearance “Drops Below the Million Mark”
Daily tracking data through December 1 shows the number of active forbearance plan totals dropping below 1 million for the first time since the start of the pandemic.
3 Dec 2021
Mortgage Lending Declines at Unusually Fast Pace Across U.S. During Third Quarter of 2021
ATTOM, curator of the nation’s premier property database, today released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. That figure was up 3 percent from the third quarter of 2020, but down 8 percent from the second quarter of 2021 – the largest quarterly dip in over a year.
2 Dec 2021
Thousands Could Soon Lose – or Sell – Their Homes as Covid Mortgage Bailouts Expire
Hundreds of thousands of homeowners could soon lose or sell their homes as Covid-related mortgage bailout programs expire.
2 Dec 2021
Mortgage Giant Fannie Mae Promotes Controller to Finance Chief
Fannie Mae, the government-sponsored enterprise that guarantees mortgage loans, has promoted Chryssa Halley, from controller to chief financial officer.
1 Dec 2021
Freddie Mac Addresses Cryptocurrency in the Mortgage Qualification Process
In Bulletin 2021-36 Freddie Mac addresses cryptocurrency in the mortgage qualification process. Freddie Mac indicated that it is providing guidance “due to the high level of uncertainty associated with cryptocurrency.”
1 Dec 2021
2022 FHA Loan Limits: Floor Rises to $420,680; Ceiling to $970,800
Similar to the FHFA, the U.S. Department of Housing and Urban Development (HUD) announces maximum loan limits each year for FHA loans.
Today, they unveiled the 2022 FHA loan limits, which like the 2022 conforming loan limits, will be significantly higher than the limits in effect this year.
1 Dec 2021
Fannie Mae: Mortgage Serious Delinquency Rate Decreased in October
Fannie Mae reported that the Single-Family Serious Delinquency decreased to 1.46% in October, from 1.62% in September. The serious delinquency rate is down from 3.05% in October 2020.
30 Nov 2021
Sky High Home Prices Push Fannie Mae and Freddie Mac to Back Loans of Nearly $1 Million
Higher prices have pushed mortgage giants Fannie Mae and Freddie Mac to raise the limits of government-backed loans to a record level for 2022, with the maximum loan limit at nearly $1 million for high-cost areas.
30 Nov 2021