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Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development. NP: You work directly with land developers too. What sort of policies are you helping to develop on their end? This interview has been edited for length and clarity.
Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. Independent mortgage banks play a key role in making this a reality, and this summit will shine a spotlight on their essential contributions to our housing market.”
Just waiting for the market to correct and find balance,” wrote one Auction.com buyer, in response to a survey regarding the impact of market conditions on bidding and purchasing behavior at auction. The remaining 45% claimed that their inclination to purchase was unaffected by market conditions.
The 10-year yield and mortgage rates have been on a wild ride lately, even testing my top-end forecast at 7.25%, but today, the 10-year yield fell after remarks by Fed President Chris Waller about whether the Fed would do even more rate cuts than the market was anticipating. It’s not booming. It’s not falling.”
As the industry works to support the American Dream of homeownership, ensuring clear lines of communication between mortgage industry stakeholders and their government partners is more critical than ever. The 15th Annual Five Star Government Forum , set for Wednesday, April 16 from 8:00 a.m.-5:00 5:00 p.m., 5:00 p.m.,
real estate market. While the Sun Belt region is the most dramatic example of this phenomena, insurance markets responding to the increasing awareness of climate risk are materially changing the calculus behind home ownership and the desirability of entire communities across the country. The post How the Climate Is Reshaping the U.S.
Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” will potentially increase investment and liquidity into the reverse mortgage market,” he said.
They discovered a high level of government involvement and a host of industry participants eager to chat with their professional counterparts from thousands of miles away. government involvement The NRMLA Annual Meeting in September 2024 featured several guests from the federal governments housing arm, the U.S.
Treasury yields continue to be volatile as economic uncertainty dominates markets. Last weeks level of purchase applications was its highest since the end of January, driven by a 3% increase in conventional purchases, while government purchase applications were down 2%, said Joel Kan , MBAs vice president and deputy chief economist.
Builder survey index From the National Association of HomeBuilders (NAHB): Builders continue to face elevated building material costs that are exacerbated by tariff issues, as well as other supply-side challenges that include labor and lot shortages, said NAHB Chairman Buddy Hughes, a homebuilder and developer from Lexington, North Carolina.
Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. That’s all it says.”
Department of the Treasury ’s Community Development Financial Institutions (CDFI) Fund announced on Wednesday that it has awarded 48 organizations a total of $246.4 million to develop affordable housing and community facilities. territories including Guam and Puerto Rico.
Government-owned company Ginnie Mae , which oversees the secondary mortgage market and provides a guarantee for a large segment of home loans, released a fiscal year 2024 financial report this week that shows positive results. Government. governments balance sheet and, by extension, U.S. This performance generated $3.1
government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. The bonds are secured by “long-term, low-rate” loans made primarily to developers of low-income multifamily apartment complexes.
Over 20 years ago, the federal government established June as National Homeownership Month to celebrate the value of homeownership and its benefits, including enabling generational wealth and creating strong communities. Americans are growing weary of the lack of action from the federal government on housing. Mary Lynn T.
Ginnie Mae acting president Sam Valverde has been operating in his current position at the government-owned company for much of 2024. He is overseeing the sizable government portfolio of mortgage-backed securities (MBS) while navigating the company’s stated need for more budgetary resources. We were true partners.
Milligan will focus on the wider deployment and development of SecureEquity , the proprietary reverse mortgage product announced by the company on Tuesday. Terms of the product are broadly similar to those that govern the Federal Housing Administration s Home Equity Conversion Mortgage ( HECM ) loan.
Encinal Terminals, a 32-acre plot of land that formerly operated as a shipping terminal on the north side of Alameda, California, will be developed into a new housing development in an effort to bolster the supply of one of the most expensive areas in the country. This is according to reporting at the Mercury News and the Alameda Post.
Partnering with all stakeholders, inclusive of insurance providers, government agencies and community organizations, accelerates the process and smoothes out the customer experience. David Solomon is Senior Director of Business Development and delivery at Newbold Advisors, where he leads the Servicing, Secondary and Capital Markets Practice.
Falling Interest Rates Seen as Key to Market Recovery While commercial real estate faces a changing economic and regulatory environment, investors remain focused on interest rate movements as the most significant market driver. The industry is also divided on how rising housing material prices will affect new developments.
Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. Regulatory Developments: Key updates on policy changes and new regulations affecting industry compliance and operations.
Carrington Mortgage Services (CMS) hired Steven Winokur to serve as vice president of marketing for third-party originations (TPO), the company announced Tuesday. Carrington Mortgage Services provides non-QM loans, conventional loans and government-backed mortgages through the Federal Housing Administration ( FHA ), U.S.
metro areas that are embracing new development and “creating a more diverse and plentiful supply of homes.“ metro areas that are embracing new development and “creating a more diverse and plentiful supply of homes.“ The report noted that the city revised an ordinance in 2021 to encourage the development of affordable housing.
We are deeply grateful for Franks steadfast leadership over the past three years and during this transition, Pam Patenaude, a board member who chairs the nominating and corporate governance committee, said in a statement. Editor’s note: This is a developing story and will be updated as more information becomes available.
HousingWire Editor-in-Chief Sarah Wheeler and Deluxe Senior Business Development Executive Mark McGuinn discuss the challenges lenders are facing to optimize lead generation, even as mortgage rates continue to change. Compared to the previous week, the overall market composite index grew 2% on a seasonally adjusted basis.
Consumers have faced years of high housing prices and rapidly increasing mortgage rates since the epidemic, which has made the home-buying market extremely difficult. In fact, only 13% of respondents think that if more homes are developed in their community, home prices will fall, whereas 59% think that they will rise.
Notably, the neighborhood section has vanished, replaced by a section titled Market. The new market section in the report demands specific data points, charts, and minimal commentary. Market area The geographic region, for a subject property, from which most demand comes and in which most of the competition is located.
Department of Housing and Urban Development (HUD) is considering employing cryptocurrency and blockchain technology to monitor the employment of agency grants, which some staffers believe could be a trial run for wider deployment of the technology across the federal government. I dont see any way this will help anything.
Buyers are willing to make compromises to find the best possible home for their families, said NAHB Chairman Buddy Hughes, a home builder and developer from Lexington, N.C. Home Builders Adapt to Housing Market Conditions Due in part to concerns about housing affordability, home builders are building smaller homes.
Auction.com has released its 2025 Distressed Market Outlook , which forecasts foreclosure auction volume decreasing 8% in 2025 as a baseline scenario. The forecast also incorporates two other less likely scenarios with differing macroeconomic and housing market assumptions.
housing market. Property insurance underwriting plays an important role in housing markets and the overall economy. Most households buy their homeowners insurance from the private insurance market, which may bundle in public hazard insurance policies such as that of the National Flood Insurance Program (NFIP).
The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. This undermines Ginnie Mae’s ability to run a market-driven program.” This recommendation is based on two other ideas.
Government-sponsored enterprise (GSE) Freddie Mac has put its finger on the scale of an emerging loan market that has been the domain of the private-label securities market, which has nurtured its reemergence in recent years. billion have been securitized in the private-label market, “of which $4.5
The honey badger labor market is still going strong as we got another solid jobs report Friday, which pushed bond yields higher at first. This will be important to think about going into 2023, especially if the labor market does what the Federal Reserve wants it to do, which is slow down enough to create a job loss recession.
Salim Furth joins Simonsen to share his expert opinions on the current housing crisis and the various factors that impact new development in certain cities. Next, Furth dives deeper into the primary issues facing the housing market. But it still will take more than zoning changes to turn the market around. and its major cities.
This is comparable to existing policies in the market for conventional loans backed by Fannie Mae and Freddie Mac. Department of Housing and Urban Development (HUD) and the FHA reported a solid year of financial performance for the MMI. Meeks (D-N.Y.) This has never made sense to me. In November, the U.S. As of Sept. from 2023.
Sam Valverde Speaking to attendees during a keynote speech, Valverde said that the government-owned company had “a reputation of being less than transparent,” according to the reporting, and wanted to “sensitize” the reverse mortgage market to its plans for the new product.
High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. In terms of acceptance in the secondary market of these TRBLs, which is key to ensuring lender liquidity, the jury is still out.
The Impact Shares Affordable Housing MBS ETF, also known as OWNS, is an exchange-traded fund with the ambitious mission of seeking to tap the capital markets to address long-standing affordable-housing and racial-wealth gap issues in U.S. million shares outstanding at a market price of $17.80
RentCafe has analyzed the nation’s rental market for the first half of 2024, ranking the most sought-after markets for rentals. Overland Park did knock Minneapolis out of the top spot in April, while Atlanta emerged as the top market to watch in 2024 after attracting the highest number of online engagements on RentCafe.com in 2023.
Modernizing systems, filling data gaps, and harmonizing across different federal insurance programs can help attract more lenders to this vital market. The creation of a more robust secondary market would give lenders more confidence in beginning to make home-only loans.
A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Local governments are uniquely positioned to help residents through the daunting process of building an ADU.
He’s credited with driving the firms policy work by leading research efforts, identifying key legislative and regulatory changes, and determining their implications for investors, corporations and financial markets. This includes engaging with federal and state policymakers, regulatory agencies and industry associations.
Mortgage professionals are no exception – whether you find yourself tweeting for work or in your free time, you may also want to follow accounts for people and organizations that are relevant to the industry in order to stay up-to-date on the latest news about the housing market. economy and specializes in the housing market.
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