Must See Chart, Purchase Share Climbs, Rural Housing, Low MLS Inventory, Bernanke Replacement?, Rental Mindset, Eminent Domain, Homebuilder Cost Pressures, Writeoffs Diminish, CFPB Exemptions, FNC Prices Up, 75% Wanna Buy Now

mnc-bc-fay2

email signup          RSS News Signup          Fay Servicing          BC’s profile

————

(chart – you absolutely must look at this) Visualizing Life In America From 1983 To Today – Submitted by Tyler Durden – Zero Hedge
————

Purchase Share Climbs, Credit Conditions Ease in March – BY: TORY BARRINGER – Purchase loan share picked up more ground in March as mortgage rates climbed further, according to the latest Origination Insight Report from Ellie Mae. Ellie Mae’s data, which reflects findings from approximately 44 percent of applications initiated on its Encompass origination platform, shows purchase share rose to 38 percent in March—an increase of 6 percentage points over February—while refinance share fell back to 62 percent. – The M Report 
————
Senators try to extend access to rural housing programs – By Christina Mlynski – … lawmakers agreed to grandfather all existing communities in the USDA rural housing programs, allowing them to maintain access to USDA’s Rural Housing Service. …. A similar measure was passed with bipartisan support in the Senate last year as an amendment to the Farm Bill, but did not ultimately become law after the bill stalled in the House of Representatives. … – Housingwire

————
Low MLS inventory a boon to homebuildersOC Housing News

————
(Bernanke’s most likely replacement) Yellen Backs ‘Lower for Longer’ Fed Rate Policy Amid Risks – By Craig Torres – Bloomberg Businessweek

————
(consumer mindset change) REO to Rental: Cultural Transitions – By Earl Cummings – … The attitude of “I can buy, but I choose to rent” is becoming far more accepted, signifying a cultural shift that supports REO to rental may extend beyond the crisis and recovery. …Mortgage Servicing News

————
(refuses to go away) Eminent domain to fix troubled mortgages makes a Calif. comeback – By Matthew Goldstein – (Reuters) – A controversial proposal to get local government officials to condemn distressed mortgages — in the same way they might condemn a dangerous property — is slowly gaining traction in some California communities, several months after it appeared the idea had been killed.

————
More Confirmation Of Price And Cost Pressures In Homebuilding – Dr. Duru – Seeking Alpha 
————
5 Irrefutable Signs That Real Estate Is (Still) In Recovery – Lou Basenese –Seeking Alpha 
————
(Safer loans = fewer borrowers) New mortgage rule to comfort qualified borrowers – By Paul Owers, Sun Sentinel – … The Ability-to-Repay rule will do away with risky loans  … The rule could keep even more consumers from qualifying for mortgages — but those who do will at least have greater peace of mind, said Becky Walzak, a Deerfield Beach-based consultant. … 
————
Equifax: Home Finance Write-Offs Down to 5-Year Low – BY: ESTHER CHO – … according to Equifax’s National Consumer Credit Trends report for March. The balance for home finance write-offs, which includes loans that completed the foreclosure process, transitioned into REO status, entered bankruptcy, or were charged off by the lender, decreased to $43.1 billion in the first quarter of this year, … The balance represents a 22 percent decline from $55.4 billion in Q1 2012.DS News

————
CFPB Clarifies Exemptions to Mortgage Rules – by Rachel Witkowski – … The bureau sought to clarify such exemptions by proposing to use the codes established by the USDA’s Economic Research Service to define “rural” counties; and the HMDA (Home Mortgage Disclosure Act) data for “underserved” counties. The agency said it posted a preliminary list of counties on its website. … – American Banker

————
FNC February (Residential) Price Index Sees 28-Month High -BY: TORY BARRINGER – The M Report 
————
75% of Americans would rather buy now than later – Posted by Megan Hopkins – Housingwire 
————

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s