NAMB legislative update: RESPA amendment to HR 1728 accepted

Apr 29, 2009

MBA's Courson applauds Bank of America's "clarity commitment" MortgagePress.comBank of America, Mortgage Bankers Association, John Courson, Clarity Commitment John A. Courson, President and CEO of the Mortgage Bankers Association (MBA) has issued the following statement applauding Bank of America Home Loans's "Clarity Commitment," a new one page summary of loan information, terms and closing costs that the company will give borrowers both at loan application and at loan closing. "MBA applauds this initiative to help ensure that all borrowers clearly understand the loan they are getting and the fees they are paying. We have long believed that an educated, informed borrower is far less likely to end up in a loan they do not understand and cannot afford. Efforts like these will help restore faith and rebuild confidence in the housing and mortgage markets." For more information, visit www.mortgagebankers.org.

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Apr 29, 2009

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...