Tag Archives: mortgage

Two congressmen have introduced a bill ……..

Two congressmen have introduced a bill that would permanently ban using Fannie Mae and Freddie Mac guarantee fees to cover federal spending not related to mortgages. Guarantee fees, or g-fees, are charged to cover the GSEs’ costs for guaranteeing mortgages … Continue reading

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How will Trump’s presidency affect the housing market?

The question for the mortgage industry is: how will Trump’s presidency affect the housing market? It’s a tricky one to answer. There was a jump in confidence among both consumers and businesses post-election, and the stock market finished 2016 strong. … Continue reading

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Wells Fargo beat revenue expectations

Wells Fargo beat revenue expectations thanks to a push from mortgage originations, despite ongoing woes including the resignation of CEO John Stumpf and an ongoing scandal over the opening of millions of unauthorized accounts. Wells Fargo reported net income of … Continue reading

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FHA to cut fees, lowering rates for first-time homebuyers

The Obama administration cut mortgage-insurance premiums charged under a government program that’s popular with first-time home buyers with little money for a down payment, a move that may ease the burden of rising interest rates. The annual fees the Federal … Continue reading

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Nationwide home prices continue to edge towards peak level

Nationwide home prices continue to edge towards peak level US home prices were up 1.1 per cent in August compared to July and up 6.2 per cent year-over-year. CoreLogic forecasts that prices will continue to gain over the next 12 … Continue reading

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U.S. mortgage investigation

Deutsche Bank AG’s shares and its riskiest bonds dropped the most since the Brexit vote after the lender said the U.S. Justice Department is seeking $14 billion to settle a probe tied to mortgage-backed securities, more money than the bank … Continue reading

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Fannie enhances affordable mortgage option

Fannie enhances affordable mortgage option Fannie Mae is making changes to its HomeReady affordable mortgage product which it says will enable even more people to become homeowners. The product allows borrowers to secure a mortgage with just 3 per cent … Continue reading

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Pending Home Sales

Pending sales slid in May, first y-o-y decline in 2 years Pending home sales were lower in May following three months of gains and posted the first year-over-year decline for 2 years. The National Association of Realtors’ index was down … Continue reading

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Justice Department sues leading mortgage company

The Department of Justice is suing a San Diego-based lender for alleged violations of the False Claims Act. Guild vehemently denies the merit of the government’s complaint, and intends to fight it, according to the company’s CEO. A complaint has … Continue reading

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Mortgage originations down at start of 2016

There was a drop in mortgage applications in the first 3 months of 2016. RealtyTrac data shows that there were 1.4 million mortgage originations on residential properties (1 to 4 units) in the US, down 12 per cent from the … Continue reading

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