While Fannie and Freddie look to be reclaiming lost investor-property loan business, seller execution tactics haven’t changed much in recent months. Volume fell 14% from October. (Includes two data charts.)
Critics argue that the mechanical method for determining the loan limits distorts the market and makes it harder for the GSEs to meet their affordable housing goals.
Plaintiffs in Collins v. Yellen promptly informed the Fifth Circuit Court of Appeals of the former president’s recent letter to Sen. Rand Paul, R-KY, possibly forestalling a decision by the court.
There is some evidence that production was less efficient in the third quarter, but profitability was up anyway. Servicing income was clearly stronger. (Includes data chart.)
Low-income first-time homebuyers face higher closing costs than others receiving purchase mortgages, according to economists at Fannie Mae. The GSE is suggesting changes that could fix some of that.
Foreclosures are down, but forbearance is up. Industry analysts have some theories as to why homeowners aren’t selling, but motivations remain somewhat unclear.