The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021. “We see postponement as disappointing as ensuring lenders can rely on GSE underwriting systems is key to keeping credit box from shrinking,” Cowen Washington Research Group…

This year there are 793 more veterans with a roof over their heads, according to the Annual Homeless Assessment Report from the U.S. Department of Housing and Urban Development. In 2019, the number of veterans experiencing homelessness dropped by 2.1%, according to the report. “Our nation’s veterans have sacrificed so much for our country and…

Freddie Mac announced the pricing of its fourth seasoned credit risk transfer trust offering in 2019, a securitization of about $2.3 billion. The pool is made up of about $2.1 billion in guaranteed senior and about $229 million in unguaranteed subordinate securities backed by a pool of seasoned re-performing loans. The SCRT securitization program is…

More developers are building up instead of out, a new report from RentCafe says. Since 2010, mid-rise and high-rise construction has gained in popularity, according to the report. Since the 1990s, the share of low-rise buildings decreased from 92% to 48% of structures currently being built. The share of mid-rise apartments under construction today is…

In the third quarter of the year, the nation’s home-sale prices fell by 1.5% from 2018 levels, coming in at a median of $370,300, according to a report from Redfin. The quarter’s decline, which now marks the biggest retreat since 2012, also represents the third consecutive quarter of price weakening. Redfin suggests the price decline is…

U.S. Bank named Lisa Stark as its new corporate controller in an announcement on Thursday. “Lisa is a dedicated professional who understands financial services and embodies our core values,” said Terry Dolan, vice chairman and chief financial officer of U.S. Bank. “She has contributed significantly to our success during the past 11 years, most recently…

Real estate technology firm MoxiWorks announced this week that it has acquired a fellow real estate tech company, Imprev. As a provider of real estate marketing automation services, Imprev has represented over 20% of real estate agents in North America, according to the company. Its service automates the creation of digital, social media and print…

There’s probably one thing that mortgage lenders want more than anything else when working with their borrowers: to make their borrowers happy. Happy borrowers equal satisfied borrowers, and satisfied borrowers turn into repeat customers down the road when it’s time to refinance or buy a new house. And despite some bumps in the road in…

By all accounts, 2019 is going to end up being the best year for the mortgage business in at least three years, but is there appears to be a serious fly in the mortgage business’ ointment. A new survey shows that borrowers’ satisfaction with their lender dropped significantly in the second quarter as lenders struggled…

U.S. household debt rose to a record $14 trillion in the third quarter, led by an increase in mortgage loans, the Federal Reserve Bank of New York said on Wednesday. The current household debt level is $1.3 trillion higher than the previous peak that occurred in 2008’s third quarter. Overall household debt is now 25%…