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Today Top Stories

Drop in Mortgage Apps Opens 2014 Holiday Season

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Mortgage applications decreased 4.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Nov. 21, 2014. The previous week’s results had included an adjustment for the Veterans Day holiday.Click to continue

Pending Home Sales Remain Healthy in October

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Pending home sales slid in October, but remained at a healthy level of activity and are above year-over-year levels for the second straight month, according to the National Association of Realtors (NAR)The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, decreased 1.1 percent to 104.1 in OClick to continue

Legalized Marijuana Creates Hazy Confusion for Real Estate Finance

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As state laws evolve to accommodate marijuana usage and possession, federal laws that made the production and usage of marijuana illegal remain unchanged. This disconnect has created something of a problem in regard to housing and real estate finance.Click to continue

Three Very Different Approaches to Affordable Housing

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Affordable housing—or, more accurately, the lack thereof—has been a critical problem facing the U.S. residential market. Three new developments on this front—a new securitization endeavor, a newly announced privately funding effort and a controversy over a New York City development—show a housing segment that is a state of tumult and flux.Click to continue

NMP's Mortgage Technology Providers Directory

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Calyx Software
Why techies love the company:
Robust, powerful and compliant, yet flexible and easy to use. Support included.

Why clients love the company: Affordable, reliable products for more than 20 years make us the number one provider.Click to continue

OCC to Loosen the Oversight Leash on Big Banks

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The Office of the Comptroller of the Currency (OCC) has announced that they will be rotating their big bank staffers around, to better supervise and monitor the nation’s largest banking entities.Click to continue

Zillow: Housing Markets to be Swimming With Underwater Borrowers for Foreseeable Future

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The affordable homes most sought after by first-time homebuyers are being kept off the market in part because nationally, those homes are almost three times more likely to be underwater than the most expensive homes, according to the first quarter Zillow Negative Equity Report. The national negative equity rate fell to 18.8 percent in the first quarter, with almost 9.7 million American homeowners with a mortgage underwater, owing more on their mortgage than their home is worth.Click to continue

GSEs Execute Three Million-Plus Foreclosure Prevention Actions Since 2008

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Fannie Mae and Freddie Mac have completed more than 3.1 million foreclosure prevention actions since the start of conservatorship in 2008. These actions have helped more than 2.5 million borrowers stay in their homes, including nearly 1.6 million who received permanent loan modifications. During 2013, Fannie Mae and Freddie Mac completed nearly 448,000 foreclosure prevention actions, 99,700 of these in the fourth quarter. The majority of these allowed troubled borrowers to save their homes.Click to continue

Fixed-Rates Drop Slightly to 4.32 Percent

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) moving down slightly after last week's uptick, and remaining within range of average fixed rates for the first quarter of 2014. The 30-year FRM averaged 4.32 percent with an average 0.6 point for the week ending March 20, 2014, down from last week when it averaged 4.37 percent. A year ago at this time, the 30-year FRM averaged 3.54 percent.Click to continue