Did You Know Archive

FHA Reforms Only Modest Boost to Credit Access

In response to tight mortgage credit, the FHA has announced three changes that it hopes will help to ameliorate lender overlays and broaden access to credit. Specifically, the FHA will consolidate all of its current lending rules into one...

Sales to Investors Decline in Most States in August 2014

As reported in the August 2014 REALTORS® Confidence Index (RCI) Report, the share of sales for investment purposes in August 2014 was estimated at 12 percent, down from the average of about 18-20 percent in 2010-2013. The chart below...

Lenders Optimistic on Access to Credit

Mortgage lending standards have been tight in the wake of the Great Recession. But recent survey work of mortgage originators points to softening in the 2nd half ot 2014. In NAR’s 3rd Survey of Mortgage Originators, nearly half of...

REALTORS® Expect Modest Price Growth in Next 12 Months, as of August 2014 Survey

REALTORS® expected home prices to increase modestly in the next 12 months, with the median expected price increase at 3.5 percent, according to data gathered from the August 2014 REALTORS® Confidence Index Survey. [1] Local conditions vary with expectations...

Change Could Ease Lender Restrictions

The Dodd-Frank act requires that originators make a good faith effort to verify a borrower’s ability to repay their mortgage and imposes stiff penalties if they do not (ATR and QM rules). This makes sense for the safety of...