http://www.nationalmortgagenews.com/news/origination/sales-previously-owned-homes-fall-lowest-since-2012-1041386-1.html?site=default_on&utm_campaign=origination%20news-mar%2020%202014&utm_medium=email&utm_source=newsletter
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Seven Reasons Private-Label MBS Are Not Coming Back Any Time Soon:
1. Weak Investor Appetite
2. New Laws and Rules
3. Gun-Shy Lenders
4. Apprehensive Securities Issuers
5. Constrained Consumers
6. Agency MBS Has the Edge
7. Housing System Overhaul Is Needed, But Hard to Do
Alex Kangelaris is the CEO and managing partner at Wall Street Emprises LLC. He has more than 25 years of mortgage industry and capital markets experience. In Origination News.
http://www.nationalmortgagenews.com/blogs/hearing/seven-reasons-private-label-mbs-are-not-coming-back-any-time-soon-1041389-1.html?site=default_on&utm_campaign=origination%20news-mar%2020%202014&utm_medium=email&utm_source=newsletter
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Taken by Pham Nhu Phuong, Great Wall of China
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Nat'l Real Estate Post:
Now on with the show. There’s data showing that existing home sales are down as are housing starts. But here’s the deal, the freakishly cold winter is the cause for a lot of this. Here’s what else we know. Millions of current renters want to buy this year. So you might say, “yeah but there’s no inventory”. Not so fast Jack, despite the wicked winter, inventory is actually on the rise.
http://thenationalrealestatepost.com/housing-market-poised-for-hot-summer-of-sales/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheNationalRealEstatePost+%28The+National+Real+Estate+Post%29
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Shared by 10,000 Artist and Art Lovers, Door at St Edward's Parish Church in the Cotswolds, flanked by beautiful 18th century yew trees.
Shared by Uros Kralj
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And if all else fails, at least your house can smell nice. That’s thanks to custom scents designed to entice buyers to buy a home. An article in The Wall Street Journal says that luxury developers are partnering with fragrance makers to turn buyer’s olfactory senses into sold properties. -- Ben Lane in HousingWire http://www.housingwire.com/blogs/1-rewired/post/29395-things-you-should-read-right-now
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Nat'l Real Estate Post:
Zillow is taking over the free listing industry. In fact, they now have an app for mortgage prequalification. However, if the CFPB is going after mortgage companies which quote rates and fees, does Zillow quote rates and fees in order to prequalify the inquirers? Will the CFPB go after Zillow? http://thenationalrealestatepost.com/god-zillow-taking-over-the-world/
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Shared by Darja Vizjak: The old Celje's castle on the hill waiting for visitors. So many storys to tell. The history of my town Celje is very rich.
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Carrington Mortgage Services lowered its minimum FICO score to 550 and expanded its guidelines on a number of FHA, VA and USDA loan programs in order to better focus on underserved borrowers, typically those in the sub-640 FICO score range. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/29404-carrington-ups-ante-on-wells-fargo-by-lowering-fico-standard
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Bank of America Merrill Lynch (BAC) analysts just emailed a research note reminding clients they feel the Fed needs to continue to back the mortgage market if the so-called housing recovery is to remain intact.
The latest mortgage applications came in weak. The analysts don't see those numbers improving should the Fed begin to raise rates. Indeed, the opposite is more likely to happen. -- Jacob Gaffney in HousingWire http://www.housingwire.com/articles/29402-bank-of-america-finds-the-housing-recovery-hard-to-believe
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Amazing things in the world originally shared: Ancient Chinese architecture....!!!!
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Nat'l Real Estate Post:
Carrington is actually dropping conventional and jumbo from their wholesale division, and if your borrower has a score over 680 – they don’t want them.
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Overall, 47 states and Washington, D.C., reported an increase in the number of title insurance premiums written last year from 2012, according to data from the American Land Title Association.
--Evan Nemeroff in Origination News http://www.nationalmortgagenews.com/news/origination/title-insurance-premiums-rise-by-115-in-2013
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Amazing things in the world originally shared: Bridge... Denmark.. Sweden
Shared by Uros Kralj
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The median sales price of a new house decreased 1.2% from February 2013, to reach $261,800, according to today’s Commerce Department report. It was the biggest year-to-year decline since June 2012. The median can be affected by the mix of sales by region as prices are generally higher in the Northeast and West where demand declined.
Purchases dropped in three of the four regions, led by a 32.4% slump in the Northeast. The West decreased 15.9% and the South fell 1.5%. Demand in the Midwest jumped 36.7% to the highest level since May 2013, after dropping almost 20% the prior month.
Warmer temperatures may revive construction and help bring more buyers out in coming months.
The recent weakness is 'a temporary pause,' and the homebuilding industry is still in the early stages of recovery, Ara Hovnanian, chief executive officer of Hovnanian Enterprises Inc., New Jersey's largest homebuilder, said in a statement on March 5. -- Bloomberg News in Origination News
http://www.nationalmortgagenews.com/news/origination/sales-of-new-homes-fell-in-february-to-five-month-low-1041420-1.
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U.S. Rep. Shelley Capito, R-W.V., told the American Bankers Association conference Tuesday that she doesn't believe GSE reform will pass before November. -- Trey Garrison in HousingWire
http://www.housingwire.com/articles/29426-capito-gse-reform-unlikely-before-november-elections
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