Senators reintroduce bill to allow remote online notarizations

17-05-2021

Could it finally be happening? Senators Mark Warner (D-Va.) and Kevin Cramer (R-N.D.) have reintroduced federal legislation that would allow remote online legislation (RON) nationwide.  Dubbed the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act, the bipartisan legislation would permit “immediate nationwide use” of RON by every notary...

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FHFA: Fannie & Freddie Credit Risk Transfers “untested”

17-05-2021

A Federal Housing Finance Agency (FHFA) report highlighted the perils of low-rates for Fannie Mae and Freddie Mac’s single-family Credit Risk Transfers. Despite heightened investor uncertainty during the onset of the pandemic, GSE-backed mortgages have outperformed expectations, the report notes. Although markets experienced a significant liquidity disruption in March 2020, questions...

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ALTA Advocacy Summit set for May 18-20

17-05-2021

The American Land Title Association (ALTA) will be hosting approximately 400 people at the ALTA Advocacy Summit, the second virtual version of the association’s annual congressional fly-in, on May 18-20.  The event includes discussions and forums on public policies regarding remote online notarization (RON), digital closings, federal tax policy, cannabis banking legislation, and...

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The curious case of the enduring sub-3% mortgage rate

17-05-2021

Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday from Freddie Mac showed that mortgage rates idled below 3% again for an...

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Mortgage forbearance numbers officially half of 2020’s peak

17-05-2021

Mortgage forbearance exits picked up steam last week as the the total number of loans in forbearance dropped by 14 basis points to 4.22% of servicers’ portfolio share, according to the Mortgage Bankers Association‘s Forbearance and Call Volume Survey. With last week marking the 11th straight week of declines, the number...

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What if mortgage rates don’t rise this year?

17-05-2021

With the economic expansion well underway, one big question remains: When will mortgage rates move toward 4% and higher? Mortgage rates increased toward 3.25% in mid-February from the recent all-time lows of 2.625% at the start of the year, but then retracted to around 3.0% currently. The bond market in 2021 has...

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The end of forbearance and the capital markets

17-05-2021

One of the great questions facing the housing markets in 2021 is what will happen when the mortgage forbearance programs under the CARES Act expire. When this act was originally passed on March 27, 2020, there were notable concerns that these measures would merely postpone an inevitable correction in the...

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Homebuilder confidence holds steady in face of rising costs

17-05-2021

Homebuilder confidence remained unchanged in the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report, holding steady at 83 for newly built single-family homes in May. The index gauging current sales conditions also remained unchanged at 88, as did the component measuring sales expectations in...

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Homebuilder confidence is high, but rising costs of materials present major risks

17-05-2021

Strong buyer demand is keeping homebuilders confident, but rising construction material costs are weighing on housing affordability. Read more: https://www.cnbc.com/2021/05/17/homebuilder-confidence-remains-high-despite-rising-costs.html

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64% of millennials have regrets about buying their current home—here’s why

17-05-2021

Nearly two-thirds of millennials say they have at least one regret about purchasing their current home, according to a new poll from Bankrate.Read more: https://www.cnbc.com/2021/05/17/64percent-of-millennials-have-regrets-about-buying-their-current-home.html

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FHFA’s final “living wills” rule ignores industry concerns

17-05-2021

On May 13, FHFA Director Mark Calabria wrote an op-ed published in the Wall Street Journal defending the final “living wills” rule published in the Federal Register on May 4. The key to this op-ed is understanding what was left out. His clear disdain for the structure of the GSEs...

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Foreclosures down in April as moratorium continues

14-05-2021

The number of properties with foreclosure filings hit 11,810 in April, down 1% month over month and 17% year over year, according to a recent study from RealtyTrac and ATTOM Data Solutions. May marks the 14th month of the federal government’s foreclosure and eviction moratorium. States with the highest April foreclosure rates...

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Generation X is looking to move to these metros

14-05-2021

In the last few years, there’s been a lot of conversation surrounding 25 to 40-year-olds and their home purchasing habits. But according to a new LendingTree study, millennials aren’t the only ones making big purchases – Generation X is doing the same.  Generation Xers are taking advantage of the housing boom...

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Why does credit matter so much in the home-buying process? Here’s the…

14-05-2021

Credit can be confusing, but it can also be a huge asset going into the home-buying process. A good credit score increases the likelihood of qualifying for a mortgage because it indicates to the lender that you’re more likely to make timely payments on your loan. Even better, a solid...

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