What will housing credit look like in next recession?
We need to understand the credit channels in the U.S. today and why theyâre so different than the period of 2002-2008.
We need to understand the credit channels in the U.S. today and why theyâre so different than the period of 2002-2008.
(Bloomberg) –Treasury Secretary Janet Yellen warned that deregulatory efforts that watered down some post-2008 financial reforms might have gone too far and contributed to the recent banking crisis. “These events remind us of the urgent need to complete unfinished business: to finalize post-crisis reforms, consider whether deregulation may have gone too far and repair the … [Read more…]
Below are the highlights of the new rules put forth by the Fed in their effort to clean up the mortgage industry. First off, the proposal would establish a new category for most subprime loans referred to as âhigher-priced mortgages.â These are defined as loans whose APR exceeds the yield on Treasury securities of comparable… Read More »Highlights of the Fedâs Proposed Mortgage Rules
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Americans Predict Mortgages Rates Will Top 8% Next Year Money
From left, Federal Reserve Vice Chairman for Supervision Michael Barr, FDIC Chairman Martin Gruenberg, and Under Secretary for Domestic Finance at the Treasury Department Nellie Liang during a House Financial Services Committee hearing Wednesday.Anna Rose Layden/Bloomberg WASHINGTON — Federal regulators fielded intense questions from both sides of the aisle on the oversight of Silicon Valley … [Read more…]
Mortgage rates expected to rise amid economic volatility: Realtor.com Fox Business
Mortgage rates fall for fourth week in a row CNN
John F. Kennedy has been gone nearly 60 years, and Jackie Kennedy (Onassis) nearly 30, but the couple still resonates with people. The first home that they owned as a married couple is for sale in Washington DC. If youâre ever in a guessing game about the most expensive places to live in the United States, stick with the safe bets: New York and anything California. Seems the press has latched on to declining home sales, but declining due to high prices, lack of inventory, or lack of buyerâs interest? Other stories indicated increasing home sales, but in certain price ranges, more builder inventory, or continued Millennial first-time home buyer interest? Take your pick. Meanwhile, lenders and originators have their continued regulatory speedbumps. Orrick reports that, âThe Conference of State Bank Supervisors (CSBS), on behalf of the NMLS Policy Committee, issued a request for public comments on proposed uniform state licensing standards for mortgage companies. The Proposal: Mortgage Business-Specific Requirements would create a national standard for mortgage industry licensing to help improve uniformity within the state system and streamline the licensing process for mortgagees seeking licensure in multiple states.â (Todayâs podcast can be found here and this week itâs sponsored by MGIC. Since 1957, MGIC has insured more than 13.5 million mortgage loans with innovative products, tools and strategies that help customers solve problems and fuel growth. Explore tools and solutions to boost your business here. Listen to an interview with Townstone Financialâs Barry Sturner and Garris Horn LLPâs Richard Horn on the CFPBâs recent judicial failures.)
Today’s refinance rates dip – March 27, 2023 Bankrate.com