Author Archive

Spring Brings Renewal to Housing Finance

In the 6th Survey of Mortgage Originators, several important trends are highlighted that took shape in the 1st quarter of 2015 and bode well for the second half of 2015.  In addition, a number of policy issues loom on...

Rental Vacancy and Homeownership Rates

The seasonally adjusted homeownership rate fell for the 7th consecutive quarter to 63.8% in the 1st quarter of 2015, the lowest level in more than two decades.  Homeownership peaked at 69.4% in the 2nd quarter of 2004. The sharpest...

Return Buyers: Many Already Here, Many More to Come

Executive Summary Default rates jumped in 2006 and between then and 2014 nearly 9.3 million borrowers were foreclosed on, received a deed in lieu of foreclosure, or short sold their home.  To date, nearly a million of these former...

Consumer Interest in Housing Gains Momentum

The Federal Reserve Board of New York released its update to the Survey of Consumer Expectations this morning.  Consumer optimism toward housing has improved significantly at the lower credit spectrum from last spring, and remains robust at the middle...

Lenders Pensive, But Warming to Government Overtures

It has become rarer for banks and lenders to hold the loans they originate.  One factor linked to tight credit is the process where loan investors force lenders to buy back mortgages they sold to the investor.  In this...