Acknowledging banks’ innovative efforts to meet the credit needs of residents in distressed communities, the OCC today rescinded 2017 guidance for banks seeking to develop programs to offer home loans with loan-to-value ratios of over 90 percent, known as “higher-LTV” loans.
As banks across the country mark American Housing Month in June, the ABA Banking Journal Podcast sat down with Michael Petrie, who leads the $4 billion Merchants Bancorp in Carmel, Ind. — one of the nation’s largest affordable housing lenders.
Fannie Mae and Freddie Mac have sold 117,466 nonperforming loans as of December 31, 2018, with a total unpaid balance of $22.2 billion, according to the sixth Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency.
The American Bankers Association joined three other financial and housing trade organizations last week in a comment letter to the Federal Housing Administration offering feedback on proposed changes to its single-family loan and lender-level certifications.
Americans’ expectations for home price changes fell in 2019, according to results from the Federal Reserve Bank of New York’s 2019 SCE Housing Survey, an annual companion to the Survey of Consumer Expectations.
Outstanding household debt increased by 0.9% in the first quarter of 2019, rising by $124 billion to land at $13.67 trillion, the Federal Reserve Bank of New York reported today.
The Federal Housing Administration today issued an advance notice of proposed rulemaking seeking public feedback on its single-family loan sale program as it looks to make the program permanent.
The Federal Housing Administration today issued a proposal making changes to its single-family loan and lender-level certifications in an effort to encourage greater bank participation in the FHA program.
The Consumer Financial Protection Bureau today published Home Mortgage Disclosure Act modified loan application registers for approximately 5,400 financial institutions.
The share of current and performing first-lien mortgages in the fourth quarter of 2018 was 95.8 percent, up slightly from 94.5 percent a year ago, according to the Mortgage Metrics Report released today by the OCC.