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Home | News (page 4)

Delinquency Rates, Foreclosures Dip to Historic Lows

According to month-end data from March, the national delinquency rate has fallen to its lowest point in 11 years, hitting 3.62 percent. The number of non-current properties and the total inventory of loans under foreclosure, both fell to historic lows as well. Prepay speeds increased—a typical indicator of increasing refi activity.

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Paper Proposes Plan for GSE Reform

A new white paper has proposed a detailed plan for reforming the nation’s GSEs. Offering a roadmap toward reform, the paper also outlines how to handle the transition to a new GSE system, as well as the secondary markets role in the move. The paper is designed to help legislators move GSE reform along—a goal the new administration has made clear.

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Greenspan: Dodd-Frank Stifling Stock Market

According to former Fed Chairman Alan Greenspan, Dodd-Frank has caused stock prices to soar and rolling it back would have a positive impact on the economy. In an interview with CNBC on Thursday, Greenspan discussed Dodd-Frank, tax cuts, and more. Dodd-Frank has been a hot-button topic since President Trump orders a review of the law back in February.

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Non-foreclosure Solutions Remain Strong

New data shows that 30,000 permanent loan modifications and 95,000 non-foreclosure solutions were completed for the month of February. The month saw only about 22,000 foreclosure sales. Around 90 percent of families that had a rate-resetting loan modification for the month avoided foreclosure.

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Spending Will Rise as Rates Drop

A new JPMorgan Chase Institute report highlights the link between interest rate changes and consumer spending for homeowners with adjustable-rate vs. fixed-rate mortgages. The study, released on Thursday, could provide valuable insight to housing policy makers regarding how their actions affect the type of mortgage a homeowner chooses as well as how they impact the consumption habits of homeowners with ARMs, compared to those with fixed rates, throughout the business cycle.

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OCC Releases Results of Wells Fargo Review

According to a new report from the OCC, there were many lessons learned through the agency’s supervision of Wells Fargo during recent controversy. Failure to respond timely to known issues, ineffective communication, and unclear records were just a few of the problems cited. The agency is currently working to address all weaknesses identified.

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Young Adults Not So Hot On Construction Careers

If the future of the construction trades rests in the hands of young adults, that future might not have such a strong foundation. In a national poll by NAHB, young adults proved less interested in pursuing construction careers than in law and marketing. But construction still outweighs military career options among the young.

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Report: “CFPB Offers Much-Needed Protection”

A new report by Trulia says the Consumer Financial Protection Bureau has proven a powerful ally to borrowers across the economic spectrum. It’s also proven a valuable resource for military service members and older Americans. And taking it away could be more trouble than its worth.

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