News Flash

Average mortgage rates continued to drop, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending Aug. 31
Mortgage Rates Down Again
Average mortgage rates continued to drop, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending Aug. 31.   The 30-year fixed-rate mortgage (FRM) averaged 3.82 percent, down from last week when it averaged 3.... Read more
The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased by 1.2 percent from May to June
Loan Defect Level Remains Steady
The frequency of defects, fraudulence and misrepresented information submitted in mortgage applications remained the same in July as compared with June and was 20 percent lower than one year earlier, according to the Loan Defect Index from... Read more
Pending Home Sales Down in July
Pending Home Sales Down in July
The National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI) dropped by 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. On a year-over-year basis, the index fell by 1.3 percent.   On a regional basis,... Read more
Ocwen Financial Corporation has announced loan modification borrower assistance results for the first half of 2017, as the company helped approximately 30,000 families avoid foreclosure and remain in their homes in the first six months of 2017
Ocwen Assists 30,000-Plus Struggling Families in Q1 and Q2
Ocwen Financial Corporation has announced loan modification borrower assistance results for the first half of 2017, as the company helped approximately 30,000 families avoid foreclosure and remain in their homes in the first six months of... Read more
Flood house
NAMB Urges Passage of NFIP Reauthorization
NAMB—The Association of Mortgage Professionals is calling on its membership to lobby Congress in support of H.R. 2874, The 21st Century Flood Reform Act, which reauthorizes the National Flood Insurance Program (NFIP) that is set to expire... Read more
A strong rush of activity during the second quarter helped fuel the overall total of commercial mortgage-backed securities (CMBS) loans closed in the first half of 2017
CMBS Delinquency Rate Falls Again
The delinquency rate for commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.44 percent in August, a decrease of five basis points (bps) from the July level, according to data released by Trepp LLC. This... Read more
The home loan market had a case of the late summer blues, according to Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Aug. 18
Mortgage Application Activity Takes a Drop
Fewer home loan applications were being originated last week, according to new data from the Mortgage Bankers Association.   The Market Composite Index dropped by 2.3 percent on a seasonally adjusted basis and four percent on an... Read more
The Federal Housing Administration (FHA) is proposing a new rule that it claims will strengthen its Home Equity Conversion Mortgage (HECM) program
HUD Updates MIP for HECM Program
The Department of Housing and Urban Development (HUD) has announced changed to its Home Equity Conversion Mortgage (HECM) program.   In a statement issued by HUD, the department noted that the initial mortgage insurance premium (MIP) will... Read more
The contentious relationship between Rep. Jeb Hensarling (R-TX), the chairman of the House Financial Services Committee, and Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), took a raw new turn when Hensarling demanded that Co
Hensarling Demands That Cordray Announce His Future Plans
The contentious relationship between Rep. Jeb Hensarling (R-TX), the chairman of the House Financial Services Committee, and Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), took a raw new turn when Hensarling... Read more
Seventy percent of construction firms are having difficulty filling hourly craft positions that represent the bulk of the construction workforce, according to a new survey released by Autodesk and the Associated General Contractors of America
Construction Workforce on the Decline
Seventy percent of construction firms are having difficulty filling hourly craft positions that represent the bulk of the construction workforce, according to a new survey released by Autodesk and the Associated General Contractors of... Read more