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The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year.
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. mortgage finance system. mortgage finance system.
A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Jacob is not alone in seeing the potential upside for crypto-mortgages and AI-enabled traditional loans.
The announcement comes as high mortgage rates and a lack of supply have created affordability challenges. ” The Treasury is allocating $100 million by 2027 to finance affordable housing in a new program administered by the Community Development Financial Institutions (CDFI) Fund. By law, they are required to devote at least 10%.
Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. The pending law is on the governor’s desk awaiting his signature. The so-called rate-lock effect is prompting many homeowners to remodel over a move.
The Federal Housing Finance Agency (FHFA) this week announced a new final rule establishing affordable housing goals for the loan purchases of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from 2025 through 2027. It is critical that the Enterprises meet these goals, as required by law and regulation.
It is critical that the Enterprises meet these goals, as required by law and regulation. Using data from the Home Mortgage Disclosure Act (HMDA), the real market level is calculated retroactively for the year.
Overall, they believe that Donald Trump and Kamala Harris — the presumptive nominee after President Joe Biden dropped out of the race — have the same correct diagnosis of the main issues affecting today’s housing market: high mortgage rates and a low supply of listings.
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