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June 23, 2014

Closing Times on Purchase Mortgages Improving, GSE Loans at 43.7 Days

By Brandon Ivey

On Fannie Mae and Freddie Mac mortgages with private mortgage insurance, average closing times declined to 42.5 days from 46.0 days.

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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