CFPB: FFIEC Announces Availability of 2017 HMDA Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
FHFA: Index Shows Mortgage Rates Increased in March 2018
Nationally, interest rates on conventional purchase-money mortgages increased from February to March, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.49 percent for loans closed in late March, up 21 basis points from 4.28 percent in February….
CFPB: Amendent to “Know Before You Owe” Mortgage Disclosure Rule Finalized
Today the Bureau of Consumer Financial Protection (Bureau) finalized an amendment to its “Know Before You Owe” mortgage disclosure rule that addresses when mortgage lenders with a valid justification may pass on increased closing costs to consumers and disclose them on a Closing Disclosure. The update is intended to provide greater clarity and certainty to…
ABA: Consumer Delinquencies Fall for First Time Since 2012
Installment loan delinquencies fall across the country during fourth quarter 2017 The fourth quarter of 2017 saw a broad-based decline in delinquencies, with delinquencies in closed-end loans (like personal or auto loans) falling across the board and bank card delinquencies declining significantly, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies fell…
FHFA: Progress Report on the 2017 Scorecard for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2017 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Report describes efforts taken by the Enterprises during 2017 to address factors limiting access to mortgage credit for creditworthy…
FHFA: June 2019 Implementation of the New Uniform Mortgage-Backed Security Announced
The Federal Housing Finance Agency (FHFA) today announced that on June 3, 2019 Fannie Mae and Freddie Mac (the Enterprises) will start issuing a new, common security, the Uniform Mortgage-Backed Security (UMBS), in place of their current offerings of TBA-eligible mortgage-backed securities. The new UMBS will be issued through the Enterprises’ joint venture, Common Securitization…
HUD and Census Bureau: New Residential Sales Report for February 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for February 2018: New Home Sales Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000. This is 0.6 percent (±13.3 percent)* below the revised January…
FHFA: Index Shows Mortgage Rates Increased in February 2018
Nationally, interest rates on conventional purchase-money mortgages increased from January to February, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.28 percent for loans closed in late February, up 16 basis points from 4.12 percent in January….
FHFA: Report Shows Fannie Mae and Freddie Mac Foreclosure Preventions Surpass 4 Million
Hurricanes Impact Delinquency Rate The Federal Housing Finance Agency (FHFA) today released its fourth quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 67,569 foreclosure prevention actions in the fourth quarter of 2017, bringing the total number of homeowners helped to 4,040,258 since the start of the conservatorships in…
OCC: Report Shows Mortgage Performance Data Unchanged in Fourth Quarter 2017
Performance of first-lien mortgages remained largely unchanged during the fourth quarter of 2017 compared with a year earlier, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgages. The OCC Mortgage Metrics Report, Fourth Quarter 2017, showed 94.5 percent of mortgages included in the report were current and performing at…