Mortgage Acts and Practices
In a letter sent today to HUD, NAR offered support for the FHA’s HAWK housing counseling pilot program but expressed concern about the program's cost and reach.
The Mortgage Choice Act, passed by the U.S. House of Representatives last night, redefines a provision in the rules that allow for home loans to be considered Qualified Mortgages.
A report released this week by the Federal Reserve Bank of New York provides estimates of the change in applications for mortgages in February of 2014 as compared to May of 2013.
The Federal Housing Agency is taking additional steps to expand access to mortgage credit for underserved borrowers.
“Proposed limits on the mortgage interest deduction and capital gains, and the repeal of deductions for state and local property taxes ... will impact every single American,” says NAR President Steve Brown.
More home buyers and current home owners are weighing the merits of a "green" mortgage, which allows them to finance home improvements that will lower long-term energy costs.
Mortgage applications for home purchases fell nearly 4 percent in the week ending Feb. 21 from the week prior, hitting their lowest level since 1995, the Mortgage Bankers Association reports.
A sector of the market that took a lot of blame for causing the financial crisis is slowly re-emerging.
Applications for home purchases dropped 6.3 percent to its lowest level since September 2011, the Mortgage Bankers Association reports.