Tue.Sep 27, 2022

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Federal judge rules in favor of FHFA on net worth sweeps

Housing Wire

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, Fairholme Funds Inc., et al., are private-sector investors in Fannie Mae and Freddie Mac, which have been in conservatorship under FHFA oversight since the 2008 fin

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Fannie Mae Executes Ninth Credit Insurance Risk Transfer of 2022

Appraisal Buzz

Fannie Mae has executed its ninth Credit Insurance Risk Transfer (CIRT) transactions of 2022. CIRTs are part of the GSEs’ ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, as CIRT 2022-7 and CIRT 2022-8 transferred $1 billion of mortgage credit risk to private insurers and reinsurers. … The post Fannie Mae Executes Ninth Credit Insurance Risk Transfer of 2022 appeared first on DSNews.

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Why the Fed’s housing reset risks a global recession

Housing Wire

When Federal Reserve Chairman Jerome Powell talked about a housing reset in June , it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting , held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed. However, a housing reset isn’t the only pressing issue — we now also have to think about a worldwide global recession.

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Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona

Appraisal Buzz

A donation from the Wells Fargo Foundation to be dedicated toward disaster relief efforts in Puerto Rico to rebuild the region in the wake of Hurricane Fiona making landfall. The post Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona appeared first on DSNews. The post Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona appeared first on Appraisal Buzz.

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How local lenders can support homeownership in today’s housing market

Housing Wire

In the quest to extend homeownership to everyday Americans, local lenders—a segment that includes credit unions, community banks and independent mortgage banks serving communities across the country—play a vital role. The only banking presence in one in five U.S. counties , local lenders help millions of people access resources and services necessary to buy a house.

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Sunbelt Reports Record Purchase Backouts

Appraisal Buzz

In another new sign of the times, roughly 64,000 home-purchase agreements fell through in August 2022 according to Redfin, a number equal to 15.2% of all homes that went under contract that month. To put it another way, that number is up 12.1% from a year ago. The percentage of backouts has now hovered around … The post Sunbelt Reports Record Purchase Backouts appeared first on DSNews.

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Cash Cows of Real Estate: Where Do You Find the Money to Finance Short-Term Rentals?

BiggerPockets

At some point across the last couple of years, I’m sure most of you have seen the returns other investors are making on short-term rentals (STRs) and asked yourself, “how […].

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Wells Fargo discloses another layoff in Iowa

Housing Wire

Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division.

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How to Get Any Seller to Accept Your Offer in 24 Hours (or Less!)

BiggerPockets

Investment properties are hard to find—unless you use the tips Jonathan Greene mentions in today’s episode. If you’re like most real estate investors, you know that in 2022, it can […].

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Opinion: Customer service is a lender’s greatest strength

Housing Wire

These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. Applications dropped 7% in the same period. The national inflation rate eclipsed 9% in June. Things have changed even more since then. As lenders, we know these things to be true not just within the context of a recent market report — we see it happening every day on the ground, in the weeds with hom

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How can lenders ensure the greatest possible quality of service?

Mortgagebroker News

"It just doesn't come from picking up the phone or returning emails within a certain timeframe"

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Rachel Luna to speak at HW Annual Oct. 4

Housing Wire

Technology and title have been closely intertwined as of late, as the title space looks at ways to not only integrate adoption but also look at where technology is actually beneficial in the process. Helping share her thoughts on this topic, we’re excited to have Rachel Luna, the “Title Queen” of Texas, as a panelist on “The Future of Title” panel at HW Annual on Oct. 4. .

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Why is imposter syndrome still plaguing some workers?

Mortgagebroker News

Some don't want recognition; some don’t want to be seen as leaders

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Hurricane Preparedness

Lamacchia Realty

HURRICANE PREPAREDNESS. With Hurricane Ian headed for Florida, it’s important for you to be prepared for anything. With any storm, there is a potential for power outages, flooding, leaks, damage to your home, and much more. What comes with that is ensuring you have adequate supplies and your house is secured, so you’re ready for everything – this includes sufficient food and water, flashlights and extra batteries, and more.

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BMO: Global pressures to continue influencing Canadian inflation

Mortgagebroker News

This is despite the metric having recently shown signs of easing

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17 Popular Types of Homes In Real Estate

PennyMac

Many people want to be homeowners, but not everyone knows what type of house they want or what will suit them best. Especially when you begin your house hunt, you’ll want to be familiar with the terminology of house structures and architecture. Using our extensive list, you can find the perfect blend of both structure and style. Structural Types of Homes.

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Is the four-day workweek an inevitable part of our future?

Mortgagebroker News

'We believe this improved work-life balance will result in a more energized and productive team'

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Brokerage to acquire tech-powered home loan platform

Mortgagebroker News

The brokerage also conducts business on the TSX