L.A. County moves to require quake retrofits as Turkey-Syria death toll exceeds 50,000
L.A. County’s proposed earthquake rules would require certain older concrete buildings in unincorporated areas, and those owned by the county, to be retrofitted.
L.A. County’s proposed earthquake rules would require certain older concrete buildings in unincorporated areas, and those owned by the county, to be retrofitted.
The Federal Housing Administration has signaled that it wants to renew efforts to bring banks back into the business through servicing improvements, and some speakers at a recent industry conference shared some thoughts on how it could be done. A representative of JPMorgan Chase’s bank unit, which like many reduced FHA activity after being hit … [Read more…]
The Department of Veterans Affairs will reduce funding fee amounts for some of the loans it guarantees, reverting them to pre-2020 levels. The move will make getting a VA loan more affordable for prospective veterans. Starting April 7, first time users and subsequent users of the VA program will see lower fees associated with purchase, … [Read more…]
Spanish Community of Wallingford hosts workshop for aspiring … Meriden Record-Journal
Sales of new U.S. homes increased in January by more than expected to the highest level in nearly a year, fueled entirely by purchases in the South, indicating some stabilization in the housing market after a brutal year. Purchases of new single-family homes rose 7.2% to an annualized 670,000 pace after an upwardly revised 625,000 … [Read more…]
Remember, not all math puns are terrible…just sum. Analyzing residential servicing is a combination of math and psychology. If you were an institution thinking of buying mortgage servicing rights (MSR), or a lender running the numbers on retaining servicing rather than selling it to an aggregator like AmeriHome or Penny Mac, you donât like hearing the saying, âMarry the house, date the rate.â Youâd prefer that the loan stay âon your booksâ well into the future because you want the monthly cash flow. In 2020 and 2021 origination income was dominant. But in 2022 servicing income won the day for those who owned it. What will happen to servicing in 2023? No one has a crystal ball, but if rates stay in the 5âs or 6âs, loans funded in 2020 and 2021 still stick. Prepayments have plummeted: no one wants to pay off their 2.875 percent loan. Of course, there are numerous parties slicing and dicing the numbers. For example, Black Knightâs MSR Index takes a sample current note rate production portfolio and tracks the MSR performance throughout the month by comparing the current value to the first day of the month value. (Todayâs podcast can be found here and this weekâs is sponsored by Agile, bringing the mortgage capital markets into a new digital era. From lenders to dealers, Agile is the new way to quote MBS. Listen to an interview with entrepreneur and author Alexandra Nolan on launching and growing a successful business.) Lender and Broker Services and Products
Can You Buy a House After Bankruptcy? Bankrate.com
Purchase applications from January show home affordability declining, even as interest rates fell steadily throughout the month, according to the Mortgage Bankers Association. After two consecutive monthly drops, the median payment amount applied for on new purchase applications increased to $1,964 in January, rising 2.3% from $1,920 in December, the MBA reported. The median shot … [Read more…]
Today’s Mortgage Rates for Oct. 24, 2022: Rates Move Higher CNET