Wednesday , 13 November 2019

Mortgage News Daily

Mortgage News Daily

Treasury Rolls Out Huge Fannie/Freddie Reform Plan; Rates Hold Steady

The Treasury Department released the Trump Administration’s long-awaited plan for reforming the nation’s housing finance system on Thursday. Treasury says the Plan “includes nearly 50 recommended legislative and administrative reforms to define a limited role for the Federal Government in the housing finance system, enhance taxpayer protections against future bailouts, and promote competition in the housing finance system .” The …

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Appraisal Threshold to be Raised for First Time in 25 Years; Rates are All Over The Place

Increasing home prices are at the heart of a decision by the major federal regulatory agencies to raise the threshold for requiring a residential real estate appraisal for mortgages originated by their regulated institutions. When the rule become effective, mortgages on 1 to 4 family homes sold for $400,000 or less may be exempt from an appraisal; the current level …

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Junes New Home Sales Revision Was a Post-Crisis Record;Trump Trade Tweets Reignite Rate Rally

The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes fell 12.8 percent in July to a seasonally adjusted annual rate of 635,000 units. Forecasts pinned that number at 645k. While missing the mark by 10,000 units and a 12.8 percent drop sound fairly significant, context is hugely important in this case. …

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