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Why mortgage lending standards will ease in 2021

Housing Wire

Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. housing market. The post Why mortgage lending standards will ease in 2021 appeared first on HousingWire. Such a scenario illustrates the growing disparities in the U.S.

Lending 545
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Opinion: The risk in cutting FHA insurance premiums

Housing Wire

There has been a flurry of recent articles prognosticating a decrease to Federal Housing Administration (FHA) insurance premiums. At least 137,000 of those borrowers have FHA-insured loans. FHA’s Mutual Mortgage Insurance Fund (MMI Fund) is there to be the primary buffer against these inevitable shifts in housing and the economy.

Insurance 322
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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. “A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said.

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Housing Market Tracker: Spring inventory falls

Housing Wire

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 481
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CFPB director reflects on anniversary of Lehman Brothers collapse, impending Supreme Court decision

Housing Wire

That is how the director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra , began his remarks marking the 15th anniversary of the collapse of Lehman Brothers , the first proverbial domino to fall in the financial crisis of 2007-08 that ultimately gave rise to the establishment of the CFPB.

Law 327
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Opinion: CRA doesn’t work for banks or IMBs

Housing Wire

As bank regulators conduct a major CRA rulemaking, an honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers. So why would we extend it to IMBs? CRA has not made a difference.

Lending 306
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Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. The settlement occurred just before Guild and its private equity owners McCarthy Capital Partners made a debut on the public markets. million shares of Class A stock, priced between $17 and $19.

Mortgage 480