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What will housing credit look like in next recession?

March 31, 2023 by Brett Tams

We need to understand the credit channels in the U.S. today and why they’re so different than the period of 2002-2008.

Posted in: Mortgage, Paying Off Debts Tagged: 10-year yield, 2, 2022, 2023, 30-year, 30-year fixed mortgage, 30-year mortgage, 30-year mortgage rate, affordability, balance, Bank, Banking, banks, before, big, bubble, Buying, cnbc, cost, covid, COVID-19, Credit, Crisis, data, Debt, Delinquencies, Down payments, Economy, equity, event, existing, Existing home sales, Fannie Mae, Fashion, fed, Federal Reserve, FHA, fico, fico score, financial crisis, Financial Wize, FinancialWize, fixed, foreclosure, Foreclosures, Freddie Mac, future, General, Giving, government, great, Grow, growth, history, home, home equity, Home Sales, Homebuyers, Homeowner, homeowners, homes, Housing, housing boom, housing bubble, housing crash, Housing market, hwmember, id, Income, Inflation, investors, iso, job, jobs, Jumbo loans, lending, loan, Loans, Make, market, MBA, meta, More, Mortgage, mortgage credit, Mortgage Credit Availability, mortgage debt, mortgage market, Mortgage Products, MORTGAGE RATE, Mortgage Rates, Mortgage-backed security, new, non-QM, Non-QM loans, one day, or, Other, payments, percent, Personal, place, points, products, Purchase, rate, Rates, Recession, rise, risk, sales, save, securities, sheets, space, stress, the fed, time, title, traditional, VA, wages, will, work, working

Janet Yellen says bank deregulation may have gone too far

March 31, 2023 by Brett Tams

(Bloomberg) –Treasury Secretary Janet Yellen warned that deregulatory efforts that watered down some post-2008 financial reforms might have gone too far and contributed to the recent banking crisis. “These events remind us of the urgent need to complete unfinished business: to finalize post-crisis reforms, consider whether deregulation may have gone too far and repair the … [Read more…]

Posted in: Refinance, Renting Tagged: 2, Administration, assets, Bank, Banking, Banking Crisis 2023, banks, Biden Administration, Bloomberg, business, california, clear, cost, covid, Credit, Crisis, deposit, Deposits, Donald Trump, Economy, Emergency, existing, fed, Federal Reserve, financial crisis, Financial Wize, FinancialWize, fire, funds, government, hold, house, Inquiries, Invest, investors, Janet Yellen, jobs, Legislation, lending, leverage, liquidity, market, markets, Media, money, More, net worth, new, new york, offer, or, panic, park, place, Politics and policy, president, Prices, quality, Recession, Regulation, Regulation and compliance, Regulatory, repair, risk, sales, sector, Silicon Valley, silicon valley bank, the fed, Treasury, u.s. bank, under, value, war, will, work

Highlights of the Fed’s Proposed Mortgage Rules

March 30, 2023 by Brett Tams

Below are the highlights of the new rules put forth by the Fed in their effort to clean up the mortgage industry. First off, the proposal would establish a new category for most subprime loans referred to as “higher-priced mortgages.” These are defined as loans whose APR exceeds the yield on Treasury securities of comparable… Read More »Highlights of the Fed’s Proposed Mortgage Rules

The post Highlights of the Fed’s Proposed Mortgage Rules appeared first on The Truth About Mortgage.

Posted in: Mortgage Tips, Refinance, Renting Tagged: Advertising, advertising practices, All, apr, assets, borrowers, Broker, brokers, Clean, Credit, Credit Report, creditors, escrow, fed, Fees, Financial Wize, FinancialWize, fixed, great, home, homeowners, homeowners insurance, Income, industry, Insurance, lenders, lending, loan, Loans, making, More, Mortgage, mortgage lenders, mortgage payments, Mortgage Rates, Mortgage Tips, Mortgages, new, offer, one year, opportunity, or, Other, payments, points, poor, property, property taxes, rate, Rates, second, second mortgages, securities, Servicing, shopping, Shopping for a mortgage, taxes, the fed, time, Treasury, value

Americans Predict Mortgages Rates Will Top 8% Next Year – Money

March 30, 2023 by Brett Tams

Americans Predict Mortgages Rates Will Top 8% Next Year  Money

Posted in: Renting Tagged: 2, 2021, 2022, 2023, 30-year, 429, ad, Alabama, All, Arizona, Arkansas, average, Buying, ca, california, color, Colorado, company, Compensation, Competition, Connecticut, country, Credit, ct, data, disclosure, equity, estate, expectations, Featured, fed, Financial Wize, FinancialWize, fixed, Florida, future, Georgia, get started, government, growth, hawaii, home, home equity, Home equity loans, Home Price, home price growth, home price increases, home prices, Homeowner, homes, Housing, id, idaho, Illinois, indiana, interest, interest rate, interest rates, Learn, lenders, Loans, louisiana, low, low mortgage rates, maine, Make, Make Money, market, Maryland, Massachusetts, md, Michigan, millennials, mississippi, missouri, money, montana, More, Mortgage, mortgage lenders, MORTGAGE RATE, Mortgage Rates, Mortgages, nebraska, Nevada, new, New Jersey, new york, north carolina, one year, or, Oregon, Other, pandemic, predictions, price, Prices, products, rate, Rates, Real Estate, real estate market, Rent, Research, rise, South Carolina, south dakota, stress, survey, Tennessee, texas, the fed, time, tracking, Utah, virginia, washington, Washington DC, will, Wisconsin

Hearing pries details from regulators on SVB-Signature failures

March 30, 2023 by Brett Tams

From left, Federal Reserve Vice Chairman for Supervision Michael Barr, FDIC Chairman Martin Gruenberg, and Under Secretary for Domestic Finance at the Treasury Department Nellie Liang during a House Financial Services Committee hearing Wednesday.Anna Rose Layden/Bloomberg WASHINGTON — Federal regulators fielded intense questions from both sides of the aisle on the oversight of Silicon Valley … [Read more…]

Posted in: Refinance, Renting Tagged: 2021, 2022, Administration, All, assets, Bank, Banking, Banking Crisis 2023, banks, before, Biden Administration, Bloomberg, Built, Crisis, data, decision, Democrats, deposit, Deposits, Economy, existing, Fall, FDIC, fed, Federal Reserve, Finance, Financial Services, Financial Wize, FinancialWize, house, House Financial Services Committee, Insurance, Law, Legislation, markets, Media, More, Move, new, new york, News, Other, panic, plan, plans, Politics and policy, quality, questions, ready, Regulation and compliance, Regulatory, risk, san francisco, Senate Banking Committee, Silicon Valley, silicon valley bank, svb, the fed, time, Treasury, Treasury Department, under, washington, white, white house, working

Mortgage rates expected to rise amid economic volatility: Realtor.com – Fox Business

March 30, 2023 by Brett Tams

Mortgage rates expected to rise amid economic volatility: Realtor.com  Fox Business

Posted in: Renting Tagged: 2, 2021, 2022, 2023, 30-year, affordability, agents, analysis, ask, Auto, average, Banking, before, bidding, bidding wars, big, business, buydown, buyers, Buying, Buying a Home, closing, closing costs, color, Competition, Credit, credit score, ct, data, down payment, Down payments, expensive, experts, Fall, Featured, fed, Federal Reserve, FHA, FHA loans, Finance, financial stability, Financial Wize, FinancialWize, fixed, Forecasts, growth, hold, home, Home Insurance, Home Price, home price growth, home prices, homebuyer, Homebuyers, Homeowner, homes, Housing, Housing market, Inflation, Insurance, insurance premiums, interest, interest rate, interest rates, lenders, loan, Loans, LOWER, market, Media, money, More, Mortgage, Mortgage Insurance, Mortgage Insurance Premiums, MORTGAGE RATE, Mortgage Rates, National Association of Realtors, needs, negotiating, offer, offers, or, Other, payments, Personal, points, present, pressure, price, Prices, Purchase, questions, rate, Rate Hikes, Rates, ready, realtor, Realtor.com, Realtors, Redfin, refinancing, rise, sales, save, Save Money, savings, sellers, shopping, Spring, svb, the fed, volatility, war, will, Zillow

Mortgage rates fall for fourth week in a row – CNN

March 29, 2023 by Brett Tams

Mortgage rates fall for fourth week in a row  CNN

Posted in: Renting Tagged: 2, 2022, 2023, 30-year, 30-year mortgage, affordability, All, Applications, assets, average, Bank, before, betting, bonds, borrowers, borrowing, buyer, buyers, clear, color, Consumers, cost, country, Credit, data, down payment, Economy, expectations, Fall, fed, Federal Reserve, Financial Wize, FinancialWize, first-time buyers, fixed, floor, forecasting, Freddie Mac, George Ratiu, growth, home, Home Price, Homebuyers, homebuying, homes, homes for sale, Housing, Housing market, Housing markets, id, index, Inflation, interest, interest rate, interest rates, investors, job, jobs, Joel Kan, labor market, lenders, loan, low, LOWER, market, markets, MBA, median home price, Mike Fratantoni, money, More, Mortgage, mortgage applications, Mortgage Bankers Association, mortgage market, MORTGAGE RATE, Mortgage Rates, Mortgages, Move, News, or, Other, president, price, Prices, Purchase, rate, Rate Hikes, Rates, ready, realtor, Realtor.com, Research, Sam Khater, short, soaring, Spring, summer, survey, the fed, time, Treasury, Treasury bonds, trends, under, will

Database Mgt., Pre-Funding and Post-Closing QC Tools; NMLS Change? Ag, Non-QM, DSCR, Reverse, Lock Program News

March 29, 2023 by Brett Tams

John F. Kennedy has been gone nearly 60 years, and Jackie Kennedy (Onassis) nearly 30, but the couple still resonates with people. The first home that they owned as a married couple is for sale in Washington DC. If you’re ever in a guessing game about the most expensive places to live in the United States, stick with the safe bets: New York and anything California. Seems the press has latched on to declining home sales, but declining due to high prices, lack of inventory, or lack of buyer’s interest? Other stories indicated increasing home sales, but in certain price ranges, more builder inventory, or continued Millennial first-time home buyer interest? Take your pick. Meanwhile, lenders and originators have their continued regulatory speedbumps. Orrick reports that, “The Conference of State Bank Supervisors (CSBS), on behalf of the NMLS Policy Committee, issued a request for public comments on proposed uniform state licensing standards for mortgage companies. The Proposal: Mortgage Business-Specific Requirements would create a national standard for mortgage industry licensing to help improve uniformity within the state system and streamline the licensing process for mortgagees seeking licensure in multiple states.” (Today’s podcast can be found here and this week it’s sponsored by MGIC. Since 1957, MGIC has insured more than 13.5 million mortgage loans with innovative products, tools and strategies that help customers solve problems and fuel growth. Explore tools and solutions to boost your business here. Listen to an interview with Townstone Financial’s Barry Sturner and Garris Horn LLP’s Richard Horn on the CFPB’s recent judicial failures.)

Posted in: Refinance, Renting Tagged: 1099, 2, 2022, 2023, 30-year, active, actual, advisor, agents, AI, All, allowance, android, app, apple, Applications, Apps, auctions, author, Bank, bank statement, bank statement loans, Banking, banks, Barry Sturner, bedroom, before, Benefits, borrowers, bridge, Broker, brokers, build, builder, builders, Built, business, Buy, buyer, buyers, california, Capital markets, Career, career paths, CFPB, chance, choice, closing, Commentary, Commercial, company, Compliance, condo, correspondent, couple, Credit, Credit risk, credit score, Customer Engagement, Debt, decisions, Delinquencies, Deposits, design, double, dream, DTI, Economy, education, engagement, equity, estate, excellence, expensive, experience, facebook, Fannie Mae, FDIC, fed, Federal Reserve, FHFA, fico, Financial Wize, FinancialWize, first home, first time home buyers, first-time home buyer, floor, Free, funds, gap, Georgia, get started, gift, Google, government, growth, Guaranteed Rate, HELOC, hold, home, home builders, home buyer, home buyers, home loans, Home maintenance, Home Sales, home value, homebuyer, Homebuyers, homeowners, homeownership, homes, house, Housing, Housing market, id, Income, index, indiana, industry, Inflation, interest, interest rate, interview, inventories, inventory, Investor, investors, iOS, iPhone, job, job market, jobs, Land, Learn, legacy, lenders, lending, liquidity, Live, loan, loan officers, loan programs, Loans, locks, low, maintenance, Make, making, manufacturing, market, Marketing, markets, married, MBS, md, Media, meta, millennial, Misconceptions, mobile, Mobile App, model, Monetary policy, More, Mortgage, mortgage loans, Mortgage News, mortgage professionals, Mortgage Rates, mortgage servicing, Mortgages, Most Expensive, Move, MSR, needs, new, new technology, new york, News, NMLS, non-QM, offer, offers, Opinion, opportunity, or, Originations, Other, pa, percent, Personal, podcast, points, poor, portfolio, portfolios, premium, present, price, priced in, Prices, proactive, products, Professionals, programs, projects, property, protect, QC, quality, rate, RATE LOCK, Rates, reach, ready, Real Estate, Real Estate Agents, realtor, Refinance, Regulatory, Relationships, Rent, rental, Rentals, Residential, Revenue, Reverse, reverse mortgages, Review, right, rise, risk, routine, running, safe, sales, Sales Boomerang, second, self-employed, Sell, Senate Banking Committee, Servicing, shares, short, short-term rental, Silicon Valley, silicon valley bank, simple, single, social, Social Media, sofi, Software, states, storage, stories, Strategies, Technology, the fed, time, title, tools, Townstone Financial, traditional, Treasury, Twitter, under, Underwriting, unique, united, united states, update, vacation, value, washington, Washington DC, Webinar, white, will, work, working

The Upside To Bank Failures, Lower Mortgage Rates

March 28, 2023 by Brett Tams

An unexpected consequence of the recent bank failures is mortgage interest rates have dropped—and could keep falling.
Posted in: Market News, Paying Off Debts Tagged: 30-year, ad, Arkansas, average, Bank, Banking, banks, before, big, bonds, Bright MLS, building, Buy, buyers, Consumer Price Index, Crisis, cryptocurrency, custom, Danielle Hale, decision, Deposits, down payment, Economy, estate, Fall, fed, Federal Reserve, Finance, financial stability, Financial Wize, FinancialWize, fixed, Fraction, Free, future, good, government, gpt, home, home prices, home shoppers, Homebuyers, hourly, Housing, Housing market, id, index, Inflation, Insurance, interest, interest rates, investments, investors, lenders, loan, Loans, low, LOWER, Make, market, mls, money, More, Mortgage, mortgage interest, Mortgage Interest Rates, Mortgage News, mortgage payment, Mortgage Rates, Mortgages, multiple listing service, negotiate, new, News, or, Other, pretty, price, Prices, Purchase, Raise, rate, Rate Hikes, Rates, Real Estate, real estate market, realtor, Realtor.com, Reverse, room, running, savings, securities, Sell, sellers, short, Silicon Valley, silicon valley bank, simple, Spring, spring housing market, startups, stock, stock market, Style, taxes, the fed, The Stock Market, time, trends, under, value, will, work, working

Today’s refinance rates dip – March 27, 2023 – Bankrate.com

March 28, 2023 by Brett Tams

Today’s refinance rates dip – March 27, 2023  Bankrate.com

Posted in: Renting Tagged: 15-year, 15-year mortgage, 2, 2021, 2022, 2023, 30-year, 30-year mortgage, All, average, balance, Bank, Banking, before, big, Borrow, borrowers, borrowing, Broker, Budget, build, business, calculator, choice, closing, closing costs, color, Consumers, coronavirus, cost, Credit, credit score, credit scores, Crisis, data, Debt, debt consolidation, double, education, equity, exercise, existing, experience, experts, Fall, fed, Federal Reserve, Fees, Finance, Financial Wize, FinancialWize, financing, fixed, funds, future, General, good, history, home, home equity, Home Improvements, home loan, homeowners, hot, Housing, Housing market, How To, improvements, index, industry, Inflation, interest, interest rate, interest rates, Learn, lenders, Life, loan, Local, low, low rates, LOWER, Make, market, money, More, Mortgage, Mortgage Broker, mortgage calculator, mortgage lender, mortgage market, MORTGAGE RATE, Mortgage Rates, mortgage refinance, Mortgages, Move, multiple offers, new, new home, offers, one day, or, Other, ownership, pandemic, payments, peace, percent, Planning, points, principal, Quotes, Raise, rate, Rates, Refinance, refinancing, repayment, Research, right, rise, save, Save Money, Saving, savings, searching, second, shopping, short, Silicon Valley, silicon valley bank, Spending, stage, the fed, time, timeline, Treasury, trend, value, versus, will, work, working
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