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HECM program study assesses policy impacts of recent years

Housing Wire

In its executive summary, the report found that the HECM program grew “substantially” during the 2000s and reached its height of 114,000 originations in 2009. The subsequent housing market crash sharply reduced that number to an average of about 50,000 originations per year from the late 2010s through 2020.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 420
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FHA borrowers hit first, hardest by sinking economy

Housing Wire

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Rick Sharga, executive vp of marketing at realtytrac.

Insurance 471
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Fed retreat from MBS market sparks short-term uncertainty

Housing Wire

What happens when the Federal Reserve begins pulling back in a serious way from the mortgage-backed securities (MBS) market that it has helped to prop up through billions of dollars in bond purchases since the start of the pandemic in 2020 — to the point where it now holds a $2.7 trillion agency MBS portfolio? The Feds existing $2.7

Marketing 372
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Silicon Valley’s ‘bridge bank’ resumes mortgage originations 

Housing Wire

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers.

Mortgage 322
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Impact of the CARES Act on mortgage servicing operations

Housing Wire

Thanks in large part to these programs, the sort of housing market crisis of the 2008-2009 Great Recession has thus far been avoided. How the National Flood Insurance Program’s recent extension provides stability for the housing market. The NFIP provides stability for the housing market.

Mortgage 410
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Fla. Unlikely to Feel Impact from Slowing Market

Empire Appraisal Group

Unlikely to Feel Impact from Slowing Market. markets, but Fla.’s Six of the nation’s top 25 most overvalued housing markets are in the Sunshine State, which can expect to see a “prolonged period of unaffordability” even as prices in other regions of the country cool. Housing crash unlikely. WEST PALM BEACH, Fla. –