22
DEC
2017
lion-lamb-peace-on-earth-goodwill-toward-man

The Lamb Lays Down with the Lion

Editors Note: Our blog will not be published during the week between Christmas and New Year’s Day so that our staff may enjoy that time with their families. Be assured we will be keeping abreast of the housing market and will be back on January 2, 2018. Happy Holidays from...
21
DEC
2017
builders-feel-the-holiday-spirit-housing-market-index-christmas

Builders Feel the Holiday Spirit

Editors Note: Our blog will not be published during the week between Christmas and New Year’s Day so that our staff may enjoy that time with their families. Be assured we will be keeping abreast of the housing market and will be back on January 2, 2018. Happy Holidays from...
20
DEC
2017
optimism-housing-market-survey

‘Tis the Season for Some Optimism

Okay, let’s take a look at the bright side. According to a recent First American survey of title and real estate professional’s, confidence in transaction volume growth over the next 12 months increased by 0.5 percent from the third quarter and increased by 5.3 percent compared...
19
DEC
2017

Last Ditch Effort to Delay HMDA

Better late than never, I guess. The Community Home Lenders Association sent a letter to acting CFPB Director Mulvaney seeking a delay in implementation of the new HMDA data collection and reporting requirements. That’s like betting on a long shot. They believe the new...
18
DEC
2017
SALT-tax-reform-move-different-state

Will Tax Reform Force Some to Relocate?

According to some experts, the elimination of the SALT deductions may result in some homeowners looking to move from high tax states. Is that so bad? The net effect of such moves will remain to be seen. First off, will existing homebuyers just up and move because of the SALT...
15
DEC
2017
supply-demand-2018-housing-market-mortgage

Housing: We have a Supply Side Problem

The outlook for 2018 is for continued home value and price increases at a rate of about 3 to 4%. That’s good and bad news. Good news for homeowners who will see increased equity which they can tap for other purposes or use toward the purchase a new home at a higher value. Of...
14
DEC
2017
mortgage-profits-down-q3-2017-technology

Mortgage Banker Profits Down in 3rd Quarter

77% of the 347 mortgage lenders responding to the recent Mortgage Bankers Performance Survey reported a pre-tax profit in third quarter of 2017. Not too bad, but this is down from the 86% reporting a profit for the 2nd quarter.  Not so good for the other 23%? For comparison...
13
DEC
2017
do-what-you-say-you-mean-fixx-tila

Do What You Say and Say What You Mean

TILA requires a lender to provide an applicant with a good faith estimate of the fees that will be charged to, or imposed on, the applicant in connection with their loan. Seems simple, if you’re gonna charge it; disclose it. There’s a little catch, the fee must be for a service...
12
DEC
2017
mba-vs-cfpb-hmda-data

Role Reversal? MBA Worries About Consumer Protections

The MBA, along with other mortgage and banking industry trade groups, are challenging CFPB’s ‘Proposed Guidance’ for handling the disclosure of HMDA data. The CFPB proposes to exclude certain loan-level data points, modify other data points prior to disclosure, and disclose other...
11
DEC
2017

Will You Be Liable for a False Claims Act Action?

It looks as though Whistleblowers and the Department of Justice teamed up again to bring fines against a mortgage lender. Guess DOJ ain’t quite done just yet! Although new HUD Secretary Ben Carson announced that FHA might pull back on False Claims Act actions DOJ just claimed...