Today’s News Synopsis:
In The News:
Bloomberg – “U.S. Apartment Vacancies Climb as New Buildings Crowd the Market” (1-5-16)
“U.S. apartment vacancies rose in the fourth quarter as a construction surge in pricier urban locations overshadowed rising demand for older properties in the suburbs, Reis Inc. said.”
Mortgage Professional America – “Morning Briefing: Home prices unlikely to see widespread decline says mortgage insurer” (1-6-16)
“Home prices across America are unlikely to decline according to analysis from mortgage insurer Arch Mortgage Insurance Company.”
Realty Trac – “Will FHA Mortgages Become Cheaper in 2016?” (1-6-16)
“There’s a growing sense in Washington that the smartest people in finance are nestled together in the warm, cozy offices of the Federal Housing Administration (FHA). It’s difficult to name another federal program which has done so well during the past year, so naturally it’s fair to wonder what they will do in 2016. One possibility is a new and big FHA discount.”
DS News – “What Will it Take to Get Private Capital Back into Jumbo RMBS in 2016?” (1-6-16)
“The issuance of jumbo residential mortgage-backed securities has been slow—and the outlook for jumbo RMBS issuance for 2016 doesn’t look good, according to the January 2016 RMBS Research Report issued by Morningstar Credit Ratings this week.”
Housing Wire – “Proof of the housing market can survive a Fed interest rate hike” (1-6-16)
“Although mortgage applications significantly tumbled this week, the Federal Reserve’s recent interest rate hike is not to blame, according to a new report from Capital Economics.”
Mortgage Professional America – “TRID impacting fulfillment centers” (1-6-16)
“More originators rely on them to help facilitate deals following increased disclosure requirements; so much so that it’s creating delays, according to one professional.”
Mortgage Bankers Association – “Mortgage Applications Decreased Over Two Week Period in Latest MBA Weekly Survey” (1-6-16)
“Mortgage applications decreased 27 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 1, 2016.”
“Safeguard Properties, the largest mortgage field services company in the United States, received the inaugural public-private partnership award from the American Association of Code Enforcement (AACE) at the AACE’s conference in Florida late last year.”
Mortgage Professional America – “JPMorgan pays $48 million for robosigning faults in OCC deal” (1-6-16)
“The largest U.S. bank by assets will be fined for failing to meet terms of a 2013 accord over mortgage-servicing flaws, the agency said in a statement Tuesday.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with AOA Orange County on Tuesday, January 19.
Image copyright source: www.flickr.com/photos/jeremybrooks
President Obama spoke in Phoenix to follow up his state of the Union address regarding housing and the GSEs. CoreLogic reported home prices increased 5.5% the previous November and were continuing to fluctuate. Growth for rent also increased 4.7% and was at levels not seen since 2011.
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