FHFA Recovers Nearly $8B from Banking Institutions in 2013
“As conservator of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency (FHFA), recovered nearly $8 billion on behalf of taxpayers in 2013 through settlements with financial institutions.”
Realtors’ Confidence in Market Tempered by Credit Access Concerns
“Realtors expressed overall confidence in the market tempered by concerns regarding credit availability, according to the latest Realtors Confidence Index from the National Association of Realtors (NAR).”
Homes’ Days-on-Market Remain Low in November
“Following a post-summer slowdown in the market, homebuyers across the nation put a little more force on the accelerator in November.”
Online Technology Likely to Play Larger Role in Mortgage Process
“A recently released borrower survey on shopping habits shows increasing reliance on online tools when mortgage shopping, though many still find the learning curve too steep.”
Is Real Estate Headed For A Fall?
“There are various people who think that both real estate and stocks are vastly overpriced. Last week, for example, the stock market closed with the S&P 500 over 1,800 for the first time while the Dow topped 16,000. How much higher can these measures go — or must they fall?”
As interest rates rise, hybrid mortgages may be a good option
“WASHINGTON — Higher mortgage rates for 2014? Count on it. Could this be the year to check out hybrid mortgages, which haven’t been popular lately? Maybe.”
Housing tear-downs on the rise as real estate rebounds
“The front-end loader swung to the right and took a bite out of the shingled roof of the quaint cottage. The roar of the engine and crackle of buckling lumber carried down Elm Avenue in Manhattan Beach.”
Home buyer bargains? Many markets are back to normal (VIDEO)
“Real estate expert Michael Corbett weighs in”
The Best Online Tools for Your Housing Search
“There was a time when the only way to find homes for sale was to engage a real estate agent to send you listings or drive up and down the streets scouting “for sale” signs.”
Mortgage Borrowers Use Technology to Advantage
“It’s been said that a little education goes a long way. The same can be said, apparently, for a little mortgage technology.”
Watt at FHFA Seen as Enigma in Fannie-Freddie Market: Mortgages
“Mel Watt’s first act overseeing Fannie Mae (FNMA:US) and Freddie Mac came before he officially started.”
New law Ability to Repay tightens mortgage regulations
“Mortgage lenders will soon have to work under stricter regulations after passage of the federal government’s Ability to Repay rule, designed to reign in loose lending standards that officials blame for contributing to the Great Recession.”
Economists Spar Over U.S. Recovery
“PHILADELPHIA—Economists John Taylor and Larry Summers exchanged pointed words Saturday about the best approach to spurring the economic recovery.”
Home Price Data Point to Moderation
“Clear Capital, Truckee, Calif., said the double-digit home price growth experienced over the past two years appears unsustainable going into 2014, as prices move into a “slow and steady” mode.”
What to watch out for in the 2014 MBS market
“The year ahead remains murky for investors even as the Qualified Mortgage (QM) rule takes effect and the Qualified Residential Mortgage (QRM) is hammered out, but there are signs of optimism for normalization.”
Housing analysts: Denver beats Phoenix in deadly animal cage match
“Clear Capital’s Home Data Index (HDI) market report confirms the consensus – home prices recovered strongly in 2013.”
When your Realtor goes mum…here’s why
“Questions Your Realtor Can’t Answer
You may be a single woman looking for a home and neighborhood where you can feel safe at night. Or a family with children who would like other kids to live nearby for easy play dates.”
Freddie Mac Announces First Multifamily K Certificates Offering This Year, K-714
“MCLEAN, VA–(Marketwired – Jan 6, 2014) – Freddie Mac (OTCQB: FMCC) today announced a new offering of Structured Pass-Through Certificates (“K Certificates”) backed exclusively by fixed-rate multifamily mortgages with a 7-year term. The company expects to offer approximately $1 billion in K Certificates (“K-714 Certificates”), which are expected to price the week of Jan. 6, 2014, and settle on or about Jan. 28, 2014. This is Freddie Mac’s first K Certificate offering this year.”
Move inland or leverage your life: The gentrification of the California middle class pushes many to use ARMs to leverage into homes they cannot afford.
“I am convinced that Californians enjoy having a sordid affair with real estate. The amount of justifications that get thrown around during booms and busts would be enough to fill a diagnostic manual for any aspiring psychologist. It is fairly well accepted that mortgage rates will only move in one direction from this point forward. So why would anyone lock into an artificially low rate via an ARM that is set to adjust in a short timeframe? Many Californians are opting for ARMs to compete with big money investors over the tiny crumbs of inventory out in the market. After all, home prices will be up in 5, 7, or 10 years and by that time you’ll be playing the equity ladder game once again, right? The usage of ARMs is surging for the non-investor share of buyers. A big reason is that California is largely unaffordable for the masses.”