GSE Patch to Expire

SCOTSMAN GUIDE Jul 26, 2019  11:25 ET

FPB proposes letting GSE patch expire

 

The Consumer Financial Protection Bureau (CFPB) has announced its intentions to allow the “GSE Patch” expire at the end of its term on Jan. 10, 2021.

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Federal Reserve took significant action

by Nathan Nelson, Loan Consultant, LoanDepot

Yesterday, the Federal Reserve met to set the stage for the rest of the year and make one of the most significant actions of Fed Chairman Powell’s one-and-a-half year long tenure. The meeting’s outcome is a quarter-percentage-point interest rate cut, the fifth time since the late 1980s.

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Jumbo Loans Highest Credit Availability Highest on Record

Jul 9, 2019  16:45 ET

Scotsman  Guide

Credit availability for jumbo loans reaches new peak

 

Are your clients looking for jumbo mortgages? According to the Mortgage Bankers Association’s newest Mortgage Credit Availability Index, jumbo loan credit availability is at its highest level on record.

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Slowing Housing Market Growth

Jul 9, 2019  15:15 ET

Scotsman Guide

Slowing supply growth could signal housing-market shift

 

U.S. housing inventory is growing — although how long that trend will continue is hazy, according to June data from Realtor.com.

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The Housing Market Balloon

From Scotsman Guide Residential Edition   |   July 2019

The Housing-Market Balloon Isn’t About to Pop

A weakening of credit standards for the mortgage industry could spell trouble in the future

By Dick Lepresenior loan adviser, RPM Mortgage | bio

Home prices have climbed substantially since bottoming out in 2012. The question at hand is whether these increases constitute a bubble that will inevitably break. One of the last things mortgage originators need is another housing bubble.

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Mortgage Pre-Payment Benefit

Put This Mortgage Industry Truism to the Test

Prepayments may still be a valuable option for clients who can’t afford shorter-term loans

By Hiroshi Hishida, owner, North Star Capital Management LLC

 From Scotsman Guide Residential Edition   |   July 2019

 

The internet introduced the world to the concept of the life hack. It showed people ways to live a more efficient life, such as tying extension cords together to keep them plugged in or burning Doritos to start a campfire.

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FHA shows growing number of risky loans

Jun 11, 2019  14:45 ET

Scotsman Guide Media

FHA report shows growing number of riskier loans

 

A quarterly report from the Federal Housing Administration (FHA) revealed that the average credit score for an FHA mortgage borrower in the second quarter of this year was 665 — the lowest figure since 2008.

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California Neighborhoods Face Radical Change

California could bring radical change to single-family home neighborhoods

By LIAM DILLON

MAY 13, 2019 | 9:10 AM

| SACRAMENTO

If you live in a single-family home in California, it’s likely everyone else in your neighborhood does too.

That could change under a state measure that would require California cities and counties to permit duplexes, triplexes and fourplexes on much of the residential land now zoned for only one house. The proposal was recently added to Senate Bill 50, legislation by Sen. Scott Wiener (D-San Francisco) that also would allow midrise apartment construction near mass transit and small apartment complexes and townhomes in wealthy communities in large counties including Los Angeles.

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Freddie Mac – MFH Financing

Freddie Mac speeds rollout of manufactured-home financing

May 2, 2019  16:10 ET

Scotsman Guide
With housing inventory still lagging, Freddie Mac has announced that its CHOICEHome financing program for manufactured houses is now available to eligible lenders across the country.

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Lowest Unemployment since 1969

Healthy economy posts lowest unemployment since 1969

Scotsman Guide

May 3, 2019  15:15 ET
The economy added 263,000 jobs in April, pushing the jobless rate to its lowest level in 50 years, according to the latest report from the U.S. Bureau of Labor Statistics.

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