MBA's Stevens calls for End to Policy by Enforcement

Hot news from AZ Home Help:

Posted To: MND NewsWire

"Everyone working in the mortgage business feels like there is a giant target on their backs ," David H. Stevens said in remarks prepared for delivery today at the Mortgage Bankers Association's (MBA's) National Secondary Market Conference and Expo. Stevens, MBA's President said the Department of Justice and other enforcement agencies appear to be in charge of the nation's housing policy and both consumers and the housing market would be better served if the tone in DC changed. Housing policy, he said, is failing today. The mortgage industry has acknowledged and taken accountability for its role in the meltdown and lenders have paid hundreds of billions of dollars in settlements and made major changes in controls and compliance. But now it is time for policymakers at both state and federal...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/05182015_stevens_housing_policy.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Builders, Realtors Differ on Home Sale Climate

Hot news from AZ Home Help:

Posted To: MND NewsWire

While they were discussing different vintages, home sellers have a slightly more upbeat outlook on home sales then do the builders of those homes. Lawrence Yun, Chief Economist of the National Association of Realtors® told Association members late last week that he expects this will be the best year for existing home sales since 2006 but the index measuring builder confidence about new home sales dropped this month. The National Association of Homebuilders/Wells Fargo Housing Market Index (HMI) released today was down 2 points from April as new home builders expressed disappointment in both current sales condition and buyer traffic. The HMI composite was at 54 in May compared to 45 in May 2014 but it has been a roller-coaster year in which the index has varied over a 14 point range. "Despite...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/05182015_nahb_builder_confidence.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

CFPB Addresses Section 8; NAR, MBA, NAMB, Congress to CFPB: "Don't TRID on Me!"

Hot news from AZ Home Help:

Posted To: Pipeline Press

The NMLS has commenced a study on the role of a MLO - besides being at the receiving end of jokes about AARP in the workplace. All kidding aside, the analysis is to ensure legitimacy of the SAFE MLO National Test with Uniform State Content and is completed every 4 to 6 years. The study is a standard practice in the industry to guarantee that licensure or certification exams are testing areas of knowledge that best relate to the tasks of a given profession. The NMLS is asking for state-licensed mortgage loan originators to complete a survey and provide feedback on the SAFE MLO National Test. Click here to access the survey - responses are due by May 29 th . The Gadsden flag is a historical American flag with a yellow field depicting a rattlesnake coiled and ready to strike. Positioned below...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/05152015-fines-for-trid-problems.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

New Home Financing Applications Continue Strong

Hot news from AZ Home Help:

Posted To: MND NewsWire

It's all relative. The Mortgage Bankers Association (MBA) said that applications for the purchase of newly constructed homes rose a scant 0.3 percent in April , on its face sort of a disappointing number for the heart of the "spring market." However, that increase was on top of a 17 percent surge in March, indicating that the new home sales continue to be strong. MBA's new home numbers are based on mortgage application data gathered through its Builder Application Survey (BAS) of mortgage subsidiaries of new home builders. It is not adjusted for typical seasonal patterns. Based on data from the BAS the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 487,000 units in April compared to a seasonally adjusted rate of 510,000 units in March, a decrease...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/05152015_mba_new_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Would a Fed Rate Hike Surprise Really Matter?

Hot news from AZ Home Help:

Posted To: MND NewsWire

Any change in interest rates will be sprung on the markets if John Williams, Federal Reserve Bank of San Francisco president, gets his way. While we suspect that any shock value surrounding this particular event would be moot, Williams told CNBC this week that "My personal preference is that we don't have the most telegraphed policy decisions in history, as we did in 2004." He added "You don't want to make a decision two months or three months in advance." While it appeared unrelated to William's remark, Wells Fargo Bank just released the first in a series of articles which seek to quantify the expected reaction of a fed funds rate shock on several different markets. The bank cites the example of then Fed chairman Ben Bernanke's comments in the summer of 2013 which caused investors to revise...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/05132015_fed_monetary_policy.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates End Another Week at Lows

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates improved for a second day, and ended at their lowest levels for a second straight week. The most prevalent conventional 30yr fixed quote remains 4.0% for top tier borrowers, but several lenders moved down to 3.875%. Additionally, the less aggressively priced lenders have rejoined the pack after moving up to 4.125% on Wednesday. Today is interesting in several regards. These mainly have to do with stark differences juxtaposed with striking similarities to last Friday. Both days tied for the biggest single-day improvement in the past 2 months. Bother days were preceded by Thursdays with exactly the same amount of improvement. Both of these Thu/Fri combos were the only positive days in May. In short, they have a ton of similarities. That's scary because last time around, Monday...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/472343.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS RECAP: Another Week Ends on High Note. Be Scared?

Hot news from AZ Home Help:

Posted To: MBS Commentary

Remember last Thursday and Friday? Those were pretty good! It sure looked like bonds had had enough weakness for a while and might start to consolidate. Yes yes... I know that I said that the " Token Post-NFP Rally Doesn't Make Us Safe ," but I'm guessing that assessment seemed overly cautious to many of you after the first 2 days of gains in more than 2 weeks. Then, of course, Monday tanked , and rates set new highs for the year 3 days in a row. And now here we are again... another Thu/Fri duo has teamed up to deliver the exact same amount of gains on average and darn close to the exact same levels. We know the next step in this dance, right? Believe in the bounce only to get smacked down on Monday! But I'm not as pessimistic today as I was last Friday. True, Monday was...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/472351.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com