Home Builders are Optimistic

Nearly two-thirds of builder contacts expect construction activity to increase over the next three months. With that said, builders’ outlooks appear to be slightly less optimistic relative to their year-earlier responses. -- Trey Garrison in HousingWire
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CoreLogic’s Home Price Index shows that home prices nationwide, including distressed sales, increased 12% in January 2014 compared to January 2013.
This marks 23 months of consecutive year-over-year increases in home prices nationally. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/29175-why-is-corelogic-breaking-with-the-herd-on-home-prices
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Zealand, not New Zealand, by Jacob Surland


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Mortgage applications reversed a three-week decline to climb 9.4% from one week earlier, according to the Mortgage Bankers Association’s survey for the week ending February 28, 2014.
Last week mortgage apps hit a two-decade low. (It's the weather, silly.) --Trey Garrison
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The House on Tuesday evening passed a bill that would delay flood insurance rate hikes and derail reform efforts passed just two years ago with the Biggert-Waters act.
“That’s an enormous government subsidy encouraging people to live in harm’s way and make the rest of the country pick up the tab,’’ Ellis said. -- Trey Garrison in HousingWire
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Thailand, by Deiter Birr

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The secretary of the U.S. Department of Housing and Urban Development unveiled the department’s fiscal 2015 budget, and the $46.6 billion budget provides a look at how HUD thinks it can accelerate economic growth, expand opportunity for all Americans, and ensure fiscal responsibility.
The budget proposal for fiscal 2015 is a 2.6% increase over 2013 levels and a 10% increase over the department’s sequestration funding level, which was 1-2% less than normal spending in calendar 2013 because of the spending cuts that took effect March 1, 2013. -- Trey Garrison in HousingWire
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Nat'l Real Estate Post:

The GSE’s have more than paid back what was borrowed with their bail out yet none of the payback is counted toward their balance. It’s all dividend payments. Not only that but they completely changed the terms of the loan mid stream and started taking all of the GSE’s profits from them not letting them build up any equity in the agencies.
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Someplace in Ukraine, by Andrey Vlasoff

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While many parts of the U.S. economy are growing, the housing sector is increasingly a drag on consumption and job creation. The fault lies not with the market, however, but with ill-considered regulations and bank capital rules.
As 2014 unfolds, look for lending volumes in 1-4 family mortgages to continue to fall as a lack of demand from consumers and draconian regulations force many lenders out of the market. While leaders such as Wells Fargo have indicated that they will write loans with credit scores in the low 600s range, there are not enough borrowers in the below prime category to make up for the dearth of consumers seeking a mortgage overall. When home prices measures generally start to fall later this year, maybe our beloved public servants in Washington will start to get the message. -- Christopher Whalen in Origination News  http://www.nationalmortgagenews.com/blogs/hearing/us-housing-sector-is-in-big-trouble-1041287-1.html?site=default_on&utm_campaign=origination%20news-mar%2010%202014&utm_medium=email&utm_source=newsletter
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Casino Baden-Baden, by Deiter Birr

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recent_searches

lender processing services ads/fannie mae/commercial mortgage/fixed mortgage rates/carrington

Will focus on correspondent lending.

(Bob) Lewis said he would fulfill as many mortgages as possible that are in the pipeline.Fifth Third terminates all relationships with wholesale loan brokers.    -- Jacob Gaffney in HousingWire

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 Richard Cordray, director of the CFPB, said at the President’s Advisory Council for Financial capability for Young Americans Meeting: 
1. Financial education should begin at a young age

Education needs to be a priority as students approach gradation from high school and should continue to evolve into adulthood

2. Students should practice financial management through experimental learning

Whether it is through stimulating a banking experience or playing a computer game that hones financial skills, it will help students learn more effectively.

3. Teachers who are interest in teaching personal financial management need to be supported and engaged with

Teachers need access to training and incentives to take part, such as continuing education credits or need-based travel stipends.

4. Financial education concepts need to be integrated into standardized tests

In doing so, it would increase the incentive for educators to teach these topics.

5. Parents need to get involved

“Parents help set expectations, and research has shown that if parents engage their children by establishing a savings account for them, these children are seven times more likely to attend college than those without a savings account,” Cordray explained.  

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