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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...
Read moreFHFA: 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...
Read moreALTA 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...
Read moreThe 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...
Read moreMortgage 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...
Read moreWhat 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...
Read moreThe 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...
Read moreHomebuilder 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...
Read moreHomebuilder 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
Read more64% 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
Read moreFHFA’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...
Read moreForeclosures 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...
Read moreGeneration 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...
Read moreWhy 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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