FHFA: Index Shows Mortgage Rates Increased in June 2017
Washington, D.C. – Nationally, interest rates on conventional purchase-money mortgages increased from May to June, 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 4.00 percent for loans closed in late June, up 13 basis points from 3.87…
CFPB: Three Tools to Help Your Homebuying Process
Buying a home is exciting. It’s also one of the most important financial decisions you’ll make. Choosing a mortgage to pay for your new home is just as important as choosing the right home. You have the right to control the process. Check out our other blogs on homebuying topics, and join the conversation on…
FHFA: Progress Update on Fannie Mae and Freddie Mac Credit Risk Transfer Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report updating the status and volume of credit risk transfer transactions through the first quarter of 2017. The Report gives a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a portion of credit risk to…
CFPB: Don’t Let Marketers Tell You How to Age in Place
We often hear that older Americans want to “age in place.” Aging in place means living at home in the community, rather than in an institutional setting, like a nursing facility. This is the choice most people want to make even if they need services and support to do so. With over ten thousand people…
FHFA: House Price Index Up 0.4 Percent in May
Washington, D.C. – U.S. house prices rose in May, up 0.4 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.7 percent increase in April was revised downward to reflect a 0.6 percent increase. The FHFA monthly HPI is calculated using…
CFPB: Spring 2017 Rulemaking Agenda
An important part of the CFPB’s statutory mandate from the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) is to make rules governing consumer finance markets more effective and to create new rules when warranted. Under the Regulatory Flexibility Act, federal agencies must publish regulatory agendas twice a year. As an independent regulatory…
HUD & Census Bureau: New Residential Sales Report June 2017
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for June 2017. Building Permits: Privately owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,254,000. This is 7.4 percent (±1.1 percent) above…
CFPB: Changes Proposed to HMDA Mortgage Data Rule Reporting Threshold for Community Banks and Credit Unions
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a proposal on reporting requirements for banks and credit unions that issue home-equity lines of credit. Under rules that are scheduled to take effect in January 2018, financial institutions are generally required under the Home Mortgage Disclosure Act (HMDA) to report home-equity lines of…
OCC: Report Shows Improved Mortgage Performance in First Quarter of 2017
WASHINGTON—Performance of first-lien mortgages improved during the first 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, First Quarter 2017, showed 95.6 percent of mortgages included in the report were current and performing at the end…
FHFA: Final Rule Regarding Minority and Women Inclusion Regulations Amended to Require Diversity and Include Strategic Planning
Washington, D.C. — The Federal Housing Finance Agency (FHFA), is publishing a final rule that amends its existing Minority and Women Inclusion regulations to require Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and the Office of Finance (the regulated entities), to develop and implement strategic plans to promote diversity and inclusion of minorities,…