Since its inception, the nation’s Low-Income Housing Tax Credit (LIHTC) Program helped produce more than 2.2 million affordable apartments, accounting for roughly one-third of all multi-family rental housing constructed between 1987 and 2006. A new report by the U.S. Department of Housing and Urban Development finds that after an initial …
Freddie Mac has released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates following long-term Treasury yields higher amid continued positive data on the housing market. This marks the fourth straight week of fixed mortgage rates gradually moving higher.
According to the report:
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The new short sale guidelines just announced by Fannie Mae will streamline documentation requirements, waive deficiencies for borrowers that successfully complete a short sale and set standard payments for subordinate lien holders, the organization reports. The new guidelines are for servicers to follow as part of the Federal Housing Finance …
Freddie Mac (OTC: FMCC) recently announced it is streamlining its policies and processes so all Freddie Mac servicers can approve short sales for borrowers facing sudden financial stress due to divorce, death, disability or other common hardships on their own authority. Additional changes will also make it easier for servicers …
The American Dream of owning a home is still alive. People still want a place of their own; where they can raise their family; share with their friends; feel safe and secure. Homeownership creates emotional and financial benefits.
The government supports that dream by allowing deductions for mortgage …
The question concerning people who’ve had a foreclosure, short sale or bankruptcy is when they will be able to qualify for a mortgage loan. It takes different amounts of time to heal credit scores based on the event.
The following chart is meant to be a general guide …
David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) announcement of proposed rules that would establish uniform standards for the residential mortgage servicing industry:
“MBA applauds Director Cordray and the CFPB for moving …
The June Mortgage Monitor report released by Lender Processing Services shows that while overall mortgage prepayment activity remains stable, despite historically low rates, the federal government's Home Affordable Refinance Program (HARP) has seen considerable activity since the beginning of 2012.
The June data also shows that the rate of …
According to the U.S. Economic and Housing Market Outlook for August released recently from Freddie Mac, the so-called shadow inventory might not be as foreboding as many thought. This is largely attributed to the rate at which excess housing is being absorbed.
Other highlights from the Outlook include:
Remember the law of Supply and Demand? Well we are seeing that now in the housing market industry. Supply of properties for sale are on a decline because "Inventories are low for a handful of reasons. Investors who are scooping up homes have been converting them into rentals rather than …