Freddie Mac: 4 in 10 Renters Looking to Purchase Homes While Rates are Low
As mortgage rates approach historic lows, 40% of renters say they are planning to purchase a home in the next several months, according to a recent Freddie Mac survey.
Browsing: Mortgage
Podcast: Global Correspondent Banking at a U.S. Community Bank
With $1.57 billion in assets, HAB Bank isn’t big — but it’s a community bank with global reach. The New York-based institution provides correspondent banking services for 140 banks in 20 countries, primarily in South Asia and East Asia. Saleem Iqbal discusses how HAB Bank competes in this global marketplace.
Fed Survey: Little Change in Lending Standards Amid Weaker C&I Demand
Bankers left commercial and industrial lending standards mostly unchanged amid weakening demand in the fourth quarter of 2019, according to the Federal Reserve’s senior loan officer survey released today.
FHFA Proposes Updated Seller, Servicer Eligibility Requirements
The proposed update to Fannie Mae and Freddie Mac seller/servicer eligibility includes new requirements for the servicing of Ginnie Mae mortgages.
Housing Policy Advocates Call for Delay of ‘QRM’ Definition Review
The Coalition for Sensible Housing Policy—a broad group of financial, housing and community development stakeholders including ABA—yesterday wrote to the federal banking agencies urging them to delay the conclusion of a mandated review of the “qualified residential mortgage” definition and related provisions of the credit risk retention rule.
IRS Issues Guidance on Reporting of Mortgage Insurance Premiums
The IRS on Friday issued important guidance on how banks and other servicers of mortgage loans must report the deductibility of mortgage interest premiums.
The Demographic Hurricane Makes Landfall
U.S. birth and marriage rates—and the life expectancy of its young people—are falling. How should banks respond to America’s demographic disaster?
ABA, Groups Highlight TRID Burden Ahead of CFPB Assessment
As the Consumer Financial Protection Bureau prepares to conduct its five-year assessment of the 2013 TILA-RESPA Integrated Disclosure Rule, ABA joined several other financial trade groups in an extensive comment letter detailing how the rule has imposed significant and unnecessary costs and liabilities on lenders.
Trade Groups Raise Concerns About Changes to FHFA UMBS Pooling Practices
The American Bankers Association joined several housing and financial trade groups in a letter to the Federal Housing Finance Agency today highlighting concerns about recently proposed changes to uniform mortgage-backed security pooling practices used by Fannie Mae and Freddie Mac.
Kraninger Signals Extension for GSE QM Patch
As the American Bankers Association has long anticipated, CFPB Director Kathy Kraninger signaled in a letter to lawmakers last week that her agency will extend the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.