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Freddie is backing lenders willing to originate multifamily loans between $1 million and $5 million, and it intends to purchase between $1 billion and $1.5 billion from participants this year. Each lender is expected to deliver $50 million to $75 million per quarter after an initial ramp-up phase, which varies in length by lender. -- Matt Scully in National Mortgage News http://www.nationalmortgagenews.com/news/secondary/freddie-to-embrace-bank-lenders-in-affordable-housing-push-1043583-1.html?
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“The drops came after a period of sustained gains, and the decline in existing home sales in particular looks extreme relative to the pending home sales measure. In any case, with employment growth strong, consumer confidence hitting multi-year highs and mortgage interest rates at 18-month lows, home sales will pick up again in 2015,” writes Paul Diggle, property economist with Capital Economics. “The government-mandated 50 basis point reduction inFHA annual mortgage insurance premiums should provide a further small fillip to housing market activity, but won’t be a game-changer.” -- Trey Garrision in HousingWire http://www.housingwire.com/articles/32583-housing-sales-weak-heading-into-2015
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Shared by Ivanka D., Chile
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Nat'l Real Estate Post:
CFPB says almost half of the buyers who apply for a home mortgage don't shop around for said mortgage. Three out of four buyers apply with only one lender. And three out of four buyers don't have savings.
http://thenationalrealestatepost.com/cfpb-has-ridiculous-notion-about-consumers/?
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According to the MBA, the Market Composite Index for the week ending Jan. 9 increased by 49.1 percent on a seasonally adjusted basis from one week earlier, the largest single weekly gain since 2008. -- Phill Hall in National Mortgage Professional http://nationalmortgageprofessional.com/news/52384/new-mortgage-apps-and-refis-skyrocket-latest-weekly-data?
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Shared and taken by Norbert Metz, The light will win.
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A new study revealed that there is demand from homebuyers for solar energy homes, finding that buyers consistently have been willing to pay more for homes with photovoltaic energy systems. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32605-solar-power-will-homeowners-pay-the-extra-costs
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Cash sales made up 35.5% of total home sales in October 2014, down from 38.7% in October 2013, according toCoreLogic (CLGX). -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32618-cash-home-sales-continue-decline-falling-387-yoy
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Shared and taken by Edith Kulka, Vienna in last spring - Hundertwasserhaus.
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Study Finds Small, Exterior Home Improvements Offer Best Value
by NationalMortgageProfessional.comhttp://nationalmortgageprofessional.com/news/52400/study-finds-small-exterior-home-improvements-offer-best-value?
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Nat'l Real Estate Post:
Did you know that the CFPB has different costs for mortgage brokers and banks? The summary is that mortgage brokers are charged twice and therefore can't compete for low to mid priced loans due to the fees the CFPB charges. Poor folks will pay more on their mortgages. One senator, Johnson, has written to Richard Cordray requesting the correction.
http://thenationalrealestatepost.com/senator-wants-cfpb-point-and-fee-cap-fixed-now/?
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Shared by Tim Saxon
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