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Home | Author Archives: Seth Welborn

Ocwen May Gain a New Ally

In the midst of struggle between Ocwen Financial Corp and the Consumer Financial Protection Bureau, a Florida Judge has stated that The Department of Justice may shine some light on the case. The question now is whose side will the Department take?

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Homebuilders Report Loosening Credit Standards

Builders and developers have reported that credit conditions for acquisition, development, and single-family construction (AD&C) have been easing in the past few months. Eased lending standards are linked with growth in the volume of residential construction loans held at banks, and by extent, the growth in residential construction as a whole. Sales of brand-new homes are expected to jump 10.7 percent this year as the historically low inventory has been pushing for increased construction.

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Analyzing the HUD Budget

On Tuesday, the Trump administration announced its proposed 2018 budget. Included in the budget are several cuts to Department of Housing and Urban Development programs, including cutting the funding to the Community Development Block Grant Program, as well as the Choice Neighborhoods Initiative, HOME Investment Partnerships Program, and the Self-Help Homeownership Opportunity Program.

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Who’s to Blame for the Housing Shortage?

The most pressing problem facing the housing industry today is the tight inventory and millennials may be partly to blame. As many young potential buyers move into cities and away from the suburbs, housing construction has been notoriously weak. Cities like New York, San Francisco, Boston, and Los Angeles have seen their suburban areas shrink.

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Investors Filling Low Distressed Inventory Gap with New Homes

With inventory dropping, including the distressed sale inventory, investors are moving to built-for-rent sales. A recent report noted that more and more investors are building rental homes themselves to make up for the gaps. Putting the blame on tight mortgage standards and rising prices, many younger buyers are holding off on buying a home, and investors are cashing in on the desire for detached-homes without the down payment.

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The Week Ahead: Prices Still Rising, Inventory Still Dropping

On Wednesday, at 9 a.m. EST, the Federal Housing Finance Agency (FHFA) will release its House Price Index (HPI) for March. The Index covers single-family housing, using data provided by Fannie Mae and Freddie Mac. Previously, the FHFA reported in its February HPI that home prices rose 0.8 percent month-over-month. In the report, January’s former unchanged index was revised to a 0.2 percent increase.

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High Down Payments Alter Young Homebuyer Priorities

Many young homebuyers are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood. Shifting priorities along with high down payments and the amount of time required to save for these payments are among the reasons why millennials aren't quite settling yet.

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