An inside look at the latest trends in housing regulation and policy, featuring the 2022 Vanguard Honoree Katie Sweeney
Several of the 2022 HousingWire Vanguard honorees shared their insights on whatâs happening at the federal level
Several of the 2022 HousingWire Vanguard honorees shared their insights on whatâs happening at the federal level
The U.S. Supreme Court turned away four appeals from Fannie Mae and Freddie Mac shareholders who said they were entitled to compensation after the Treasury collected more than $100 billion in profits from the government-sponsored enterprises. The investors argued unsuccessfully that the so-called profit sweep, part of the 2012 agreements that modified the government’s bailout … [Read more…]
Several of the 2022 HousingWire Vanguard honorees shared their insights on whatâs happening at the federal level
Several of the 2022 HousingWire Vanguard honorees shared their insights on whatâs happening at the federal level
The FHA Short Refinance program, made available to loan servicers in June but formally launched in October, has resulted in just 15 refinances as of December 31, according to Congressional testimony from the Special Inspector General, Neil M. Barofsky. A short refinance is a transaction in which a mortgage lender agrees to pay off a [&hellip
The post FHA Short Refinance Program Has Resulted in Only 15 Refis first appeared on The Truth About Mortgage.
It took a few weeks, but weâve finally got concrete details regarding the Obama Administrationâs so-called âBroad Based Refinancing Plan.â First off, homeowners with Fannie Mae and Freddie Mac-backed mortgages who are unable to refinance their mortgage to take advantage of the near-record low mortgage rates will be able to go through HARP 2.0. HARP [&hellip
The post Obamaâs Broad Based Refinancing Plan first appeared on The Truth About Mortgage.
A new Fed study and associated workshop revealed that mortgage lenders continue to offer inflated mortgage rates to consumers, despite ongoing efforts to reduce such borrowing costs. Over the past several years, the Fed has pledged to purchase billions in mortgage-backed securities (MBS) in an effort to lower consumer mortgage rates. The plan seems to [&hellip
The post Mortgage Rates Not as Low as They Could Be first appeared on The Truth About Mortgage.
While the CARES Act has allowed millions of homeowners nationwide to put their mortgage payments on hold, doing so has left lots of questions for mortgage lenders. One being how theyâd continue to pay investors while the loans they service were in forbearance. The FHFA clarified that piece yesterday by agreeing to only hold servicers [&hellip
The post Fannie Mae and Freddie Mac Agree to Buy Mortgages in Forbearance first appeared on The Truth About Mortgage.
The current solution for those struggling to make mortgage payments due to COVID-19 is mortgage forbearance. It allows homeowners to âpauseâ mortgage payments for anywhere from six to 12 months while their income is reduced or completely nonexistent. Once it comes to an end, the homeowner must repay the missed payments, either by making a [&hellip
The post Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance? first appeared on The Truth About Mortgage.
Another interesting trend has emerged from the latest mortgage forbearance data, this time courtesy of a new report from data analytics company Black Knight. Nearly 5 Million Now in Mortgage Forbearance Plans 4.75 million borrowers in active forbearance plans (9% of all mortgages) FHA/VA forbearance rate rises to 12.6% as of May 19th Fannie/Freddie forbearance [&hellip
The post 46% of Homeowners in Forbearance Plans Still Made Their Mortgage Payments first appeared on The Truth About Mortgage.