fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107


Mortage News

You can add info here too!

  • Mortgage Debt Down and Bad Debt Up

    Mortgage Debt Down and Bad Debt Up

    The post Mortgage Debt Down and Bad Debt Up appeared first on National Real Estate Post.

  • Economic Environment Depressing Millennal Homeownership

    It shouldn't be news to anyone that the homeownership rate of the Millennial generation continues to be anemic.  While it has improved slightly since 2015, the Urban Institute's (UI's) new research shows that, at that point it was 37 percent, 8 percentage points lower than the homeownership rate of Gen Xers and baby boomers at the same age. This translates into 3.4 million fewer homeowners among these 75 million young adults.

    UI researchers Laurie Goodman, Jung Hyun Choi, Jun Zhu, writing in the Institute's Urban Wire blog, say that demographic and lifestyle choices, delayed marriage, increasing diversity, have played a role in the decline, it is the economic environment that has been most determinative.

  • Construction Numbers Post Sluggish Recovery

    As analysts had predicted, both housing permits and starts recovered, albeit only slightly, in July after a poor showing the previous month. The U.S. Census Bureau and the Department of Housing and Urban Development now report that housing permits are being issued at a pace higher than in 2017, but housing starts are still lagging the earlier number. Permits for privately owned residential construction were issued in July at a seasonally adjusted annual rate of 1,311,000 units. This is an increase of 1.5 percent from the June rate of 1,292,000 (revised from 1,273,000 units).  July's permitting rate is now 4.2 percent higher than that of July 2017.


  • Aging in Place – The New Trend

    Aging in Place – The New Trend

    The post Aging in Place – The New Trend appeared first on National Real Estate Post.

  • Florida, Houston Delinquencies Still Reflecting 2017 Storms

    The effects of Hurricane Irma continue to be felt in the Southeast, with Florida the only state to report an increase in its delinquency rate in May.  The rate in the state was up 1 percentage point compared to May 2017 and gave Florida the third highest rate in the nation at 6.2 percent. CoreLogic, in its Loan Performance Insights Report, said the rest of the nation continues to improve, although Texas, still impacted by Hurricane Harvey, saw rates remain the same as a year earlier.  The national rate was 4.2 percent compared to 4.5 percent in May 2017, the lowest rate for a May in 12 years and within 0.1 percent of the previous low in May 2006. The rate is also well below the pre-crisis period of 2000 to 2006 when the share of delinquent mortgages averaged 4.7 percent.


  • Mortgage Applications: Purchase Volume Declines, Refis Stabilize

    It was another week of decline for mortgage applications as those for home purchase slid for the fifth week in a row. The overall volume of applications, as measured by the Mortgage Bankers Association's (MBA's) Market Composite Index, declined by 2.0 percent on a seasonally adjusted basis during the week ended August 10.  On an unadjusted basis the volume lost 3 percent compared to the prior week.The seasonally adjusted Purchase Index decreased by 3 percent and was down 4 percent unadjusted.  The unadjusted version was also 3 percent lower than during the corresponding week in 2017.


  • Builder Confidence Retreats Once Again

    Rising concerns about costs and labor shortages continue to take a toll on home builder sentiment according to the August Housing Market Index (HMI). The Index, a joint product of the National Association of Home Builders (NAHB) and Wells Fargo, dipped another point to 67. The HMI has been moving in a narrow range between 68 and 70 since March. The index scored an 18 year high in of 74 last December and has trended lower since. The August number is the lowest so far this year. The index is a distillation of information gathered through a monthly survey that NAHB has been conducting for 30 years.

  • How Fires and Flooding Impact Buyer Qualifying

    How Fires and Flooding Impact Buyer Qualifying

    The post How Fires and Flooding Impact Buyer Qualifying appeared first on National Real Estate Post.

  • Zillow Makes Deal with Realogy

    Zillow Makes Deal with Realogy

    The post Zillow Makes Deal with Realogy appeared first on National Real Estate Post.

  • Aging Housing Stock; Problem and Opportunity

    An aging housing stock is usually thought of as a problem.  Older homes can be more expensive to maintain and easily fall into enough disrepair to be a health or safety hazard or completely uninhabitable.  Construction since the housing crisis has not kept pace with the homes that age out or are otherwise removed from the housing stock and this means that the overall age of the U.S. housing stock is gradually aging. Na Zhao, writing in the National Association of Home Builders' (NAHB's) Eye on Housing blog says data from the 2016 American Community Survey (ACS) puts the median age of owner-occupied homes at 37 years compared to a median age of 31 years in 2005. 

  • A New Regulation that Lenders and Realtors will Love or Hate

    Like this video? Feel free to subscribe to www.theREsource.tv

    The post A New Regulation that Lenders and Realtors will Love or Hate appeared first on National Real Estate Post.

  • Brady Bunch Home Value Strong as Values Slip in 35 States

    Brady Bunch Home Value Strong as Values Slip in 35 States

    The post Brady Bunch Home Value Strong as Values Slip in 35 States appeared first on National Real Estate Post.

  • MBA Says New Home Purchase Apps Reflect Housing Start Surge

    The Mortgage Bankers Association (MBA) says that responses to its recent Mortgage Builder Applications Survey indicates an increase of 3.6 percent in applications for financing newly constructed homes in July compared to the same month in 2017.  That is an 0.2 percent uptick from June. Based on the survey results, which are not seasonally adjusted, and other assumptions about factors that include market coverage, MBA estimates that new single-family home sales were running at a seasonally adjusted annual rate of 637,000 in July.  This is an 8.5 percent increase from MBA's June estimate of 587,000 units. On an unadjusted basis, MBA estimates that there were 53,000 new home sales during the month, the same number as in June.


  • Fannie Mae Announces Wildfire Policies

    Fannie Mae has informed us that they too have activated their disaster response policies for homeowners, this time for those affected by the California wildfires. Homeowners impacted are eligible to stop making mortgage payments for up to 12 months during which time they will not incur late fees or have delinquencies reported to the credit bureaus. While homeowners are advised to contact their mortgage servicers as soon as possible those servicers are also authorized to suspend or reduce a homeowner's mortgage payments immediately for up to 90 days if they believe a homeowner has been affected, even without homeowner contact.  Any eligibility for up to 12 months forbearance will not be affected.  

  • Affordability at 10-Year Low, Tariffs and Rate Hikes Made It Worse

    We now have an unfortunate sign that the recovery is complete. The National Association of Homebuilders (NAHB) says housing affordability is the lowest level since just before the housing crisis hit.  The NAHB says the Wells Fargo Housing Opportunity Index (HOI) shows that a combination of rising home prices and higher mortgage rates now means that only 57.1 percent of new and existing homes sold during the second quarter of 2017 were affordable to families earning the U.S. median income of $71,900.  This is down from the 61.6 percent of homes sold in the first quarter that were affordable to median-income earners and is the lowest reading since mid-2008.


  • Niche Products Grow as Prime Products Decline

    Niche Products Grow as Prime Products Decline

    The post Niche Products Grow as Prime Products Decline appeared first on National Real Estate Post.

  • Existing Home Sales "Cooled" in Q2, Prices Did Not

    The National Association of Realtors® (NAR) said existing home sales cooled during the second quarter amidst what it called "staggeringly low" inventories and steadily appreciating prices. The median national price of an existing single-family home in the second quarter was $269,000, which is up 5.3 percent from the second quarter of 2017 ($255,400) and surpasses that number as the new peak. The median sales price during this year's first quarter rose 5.7 percent on an annual basis.  NAR's quarterly existing home sales report focuses on major metropolitan markets, and the second quarter edition says that single-family home prices increased during the period in 90 percent of measured markets.

  • Freddie Mac Announces Wildfire Forbearance Policy

    Some are saying that 2018 may be the worst year in history for wildfires in California and other states are threatened by blazes as well so Freddie Mac is reaffirming its disaster relief policies.  The policies apply to borrowers with homes in Federal Emergency Management Agency (FEMA)-declared disaster areas where individual assistance programs have been made available to affected individuals and households. The options include suspending foreclosures by providing forbearance for up to 12 months and waiving penalties or late fees for borrowers with disaster damaged homes.  Areas with FEMA programs are listed on FEMA's website.

  • And the Winner is….. Zillow

    And the Winner is….. Zillow CLICK HERE to visit TheREsource.tv CLICK HERE for the Bloomberg interview with Zillow.

    The post And the Winner is….. Zillow appeared first on National Real Estate Post.

  • Two New Freddie Mac Pilots Target Affordable Rents

    Freddie Mac has announced two new affordable rental programs.  The first is a pilot in three markets (Atlanta, Orlando, and Tallahassee) that supports both affordable housing and the surrounding community. The company is providing $7.8 million to The Promise Homes Company, which owns and operates single-family rental units, to purchase 117 of them to provide affordable housing for low-income and working families. Promise Homes is a non-profit with the mission of offering affordable housing to families unable to buy a home due to finances and/or credit history. In addition to housing, Promise Homes offers financial literacy and economic support services and its property management companies place a priority on contracting with local minority or woman-owned small businesses for services, thereby supporting local job creation.  

  • Jumbo and Conventional Loans See Increased Availability

    Mortgage credit availability scored a significant gain in July.  The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.7 percent in July to 184.1, apparently the highest level since MBA began publishing it in 2012.  An increase in the MCAI indicates that lending standards are easing while a decline is indicative of tightening credit.  The index was benchmarked to 100 in March 2012. "Credit availability continued to expand, driven by an increase in conventional credit supply. More than half of the programs added were for jumbo loans, pushing the jumbo index to its fourth straight increase, and to its highest level since we started collecting these data. 

  • Mortgage Applications Activity Dips to 19 Month Low

    The week ended August 3 marked the fourth consecutive one in which mortgage activity declined.  The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, was down 3.0 percent both before and after seasonal adjustment, and that the adjusted number reached its lowest level since January 2016. The seasonally adjusted Purchase Index dropped for the fourth week as well.  It was down 2 percent from the week ended July 27.  The unadjusted Purchase Index was also down 2 percent, both from the previous week and from the same period in 2017.


  • Home Buying/Selling Attitudes, Job Security Take Hit in Survey

    Attitudes about buying and selling a home degraded in July.  Fannie Mae said its National Housing Survey (NHS) for the month found a net decrease among respondents of 4 percentage points who thought it was a good time to buy a home and a net decrease of 6 points in those who think it is a good time to sell. Those two components of the company's Home Purchase Sentiment Index (HPSI) helped pull it lower for the second consecutive month.  The Index dropped 4.2 points to 86.5, after reaching survey highs in April and May. Two others of the six components fell as well.



  • FHFA Under Harassment Fire

    FHFA Under Harassment Fire.

    The post FHFA Under Harassment Fire appeared first on National Real Estate Post.

  • Wells Fargo: Deja Vu All Over Again

    Another day, another Wells Fargo PR disaster. The company is admitting they have foreclosed on about 400 homes owned by borrowers who were not allowed loan modifications to which they were entitled, delayed three years in admitting the problem, and are hoping to cheaply remediate it. The bank disclosed the problem in a filing last Friday with the Securities and Exchange Commission (SEC).  Wells Fargo admitted there had been an error in an automated program that persisted for five years and caused over 600 customers to be denied or not offered loan modifications to which they appeared otherwise eligible.  

  • Reno is Blowing Up!

    Reno is Blowing Up!

    The post Reno is Blowing Up! appeared first on National Real Estate Post.

  • Black Knight: Home Price Increases are Slowing; Affordability Stabilizes

    Altough it was forecast to happen long ago, it seems price gains throughout the U.S. are moderating. Black Knight, in its August Mortgage Monitor, claims that is the case. While prices are still rising, the company says its Home Price Index slowed each month from March through May, the first three-month slide in nearly four years. Prices in 32 states and 33 of the 50 largest markets exhibited that same pattern. Ben Graboske, executive vice president of Black Knight's Data & Analytics division said, "In May - typically one of the strongest months of the year for home price growth - every state in the nation saw home prices increase. 

  • CoreLogic: Low-End Rent Growth is Slowing

    CoreLogic is noting a subtle change in rent growth for single-family houses.  Its Single-Family Rental Index (SFRI) has logged a steady increase in those rents since 2010, peaking in February 2016 at a 4.2 percent annual gain.  Since then rents have stabilized, with average year-over-year increases of 2.7 percent.  The last data released was for April and showed a 2.9 percent annual change. The SFRI measures rent changes among single-family homes and condos, using a repeat-rent analysis to measure the same rental properties over time. 


  • Barry Habib and Brian Stevens Square Off on Housing

    Barry Habib and Brian Stevens Square Off on Housing

    The post Barry Habib and Brian Stevens Square Off on Housing appeared first on National Real Estate Post.

  • Urban Institute: Rethinking Loan Denial Calculations

    A recent research paper from the Urban Institute (UI) looks at the benefits provided by real denial rates (RDR) over the traditional measure of credit availability, the observed mortgage denial rate (ODR).  The authors, Laurie Goodman and Bing Bai from UI and Wei Li of the Federal Deposit Insurance Corporation (FDIC) maintain that the ODR can be misleading.  Higher denial rates can result from either a tight credit environment or because of an increase in applications from less creditworthy buyers and can affect measures over time, across credit channels and for demographic groups.


  • Home Owners Associations on the Rise

    Home Owners Associations on the Rise

    The post Home Owners Associations on the Rise appeared first on National Real Estate Post.

  • Labor Shortages, Material Costs, Cause Construction Stumble in June

    Construction spending fell unexpectedly in June.  The U.S. Census said overall spending was down 1.1 percent from the May estimate to a seasonally adjusted annual rate of $1.332 trillion.  Spending was still higher, by 6.1 percent, than the June 2017 annual rate of $1.241 trillion.  The loss was somewhat mitigated by a substantial revision to the May numbers.  Originally estimated at a rate of  $1.310 billion, an 0.4 percent increase from April, the total was revised up to $1.332.2 billion, a healthy 1.35 percent gain. 

    Analysts had expected a small gain in June.  Those polled by Econoday reached a consensus of an 0.3 percent uptick, although the estimates ranged from an 0.3 percent loss to a positive 1.1 percent.

  • Fannie and Freddie Extend Strong Earning Streak

    Both Fannie Mae and Freddie Mac, the two government supported enterprises (GSEs) that have been in federal conservatorship for ten years this month, reported another quarter of strong financial returns.  Freddie Mac finished the second quarter with Comprehensive Income of $2.4 billion and the significantly larger Fannie Mae had Comprehensive Income of $4.5 billion. Freddie Mac's Comprehensive Income was higher than both the $2.1 billion posted in the first quarter of 2017 and the $1.9 billion in the second quarter of 2017.

  • The First $1Billion Listing in the USA

    The First $1Billion Listing in the USA

    The post The First $1Billion Listing in the USA appeared first on National Real Estate Post.

  • Will We Be Ready When Boomers Exit Homeownership?

    Baby Boomers, the largest generation of Americans in history until the Millennials came along, have influenced the country since their birth and have created what could be described as a pig in a python in homeownership rates.  They are ageing, the leading edge of the group is now in their 70s, but still, according to Fannie Mae, inhabit 46 million owner-occupied homes with an estimated $13.5 trillion.  What happens to the housing market when that gene