Home prices remain below their peak levels and mortgage interest rates are well below where they were prior to the financial crisis. However, mortgage originations since 2008 have been significantly below the levels seen in years prior as tight underwriting standards have limited production. “Home prices are still very affordable by historical standards, despite increases over the last three years,” the Urban Institute’s Housing Finance Policy Center noted in a recent report. “Even if interest rates rose to 6.00 percent, affordability would be at the long term historical average.” Black Knight Financial Services added...
Potential homeowners may be talking themselves out of the American dream, according to several recent surveys that show consumers underestimate their ability to get a mortgage. A Genworth survey of more than 100 lending executives found that 66 percent said eligible borrowers mistakenly think they don’t qualify for a mortgage. In a similar survey on consumer’s views on homeownership, Wells Fargo reported...
“The Greek crisis already has taken a toll on MBS and still poses a sizeable risk to performance,” according to a new report from Deutsche Bank Securities.
There are three major cooperatives that serve as middlemen between lenders and various counterparties: Lenders One, Capital Markets Cooperative and The Mortgage Collaborative.
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”
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