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- Johnston, IA 50131
- Toll-Free: 800-532-1423
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Industry News
News:Industry News
Featured Items
- Nearly Half of Refinancing Q4 Borrowers Reduced Payments
- Nearly 85 percent of refinancing homeowners with first-lien loans maintained or reduced their current payments by paying in additional cash in the fourth quarter last year. learn more
- Fed Rate Forecasts Downplayed
- Richard Fisher, president of the Dallas Federal Reserve, has criticized the central bank for extending its forecast of near-zero rates to late 2014 from mid-2013. learn more
- Obama Administration to Move Forward With Closing Fannie Mae, Freddie Mac
- Treasury Secretary Timothy Geithner confirmed that the White House will be proceeding with plans to wind down Fannie Mae and Freddie Mac and draw more private funding to the mortgage markets. learn more
- Homeownership Rates Fall to 66 Percent as Downturn Nears a Bottom
- The U.S. homeownership rate declined to 66 percent in the last three months of 2011, continuing a seven-year drop from its 2004 fourth-quarter peak of 69.2 percent, reports the Census Bureau. learn more
- Hope Is Rising for Mortgage Accord
- Although state and federal officials reportedly are on the brink of an estimated $25 billion deal with the country's biggest banks over improper foreclosures, states like California and New York have resisted a settlement out of concern that liability provisions would restrict related government investigations into mortgage securities. learn more
- Condo Buyers Frustrated in Hunt for FHA Mortgages
- Since Feb. 1, 2010, condo buyers have been unable to obtain "spot" approval for FHA-insured loans unless the entire building is agency-approved. FHA's share of the overall home purchase market was 37.4 percent for the first three quarters of last year, but the share for condos would have been higher since FHA-insured mortgage are popular with those buyers. learn more
- Big Downpayments Could Bar Creditworthy Borrowers From Market, Study Finds
- A mandatory down payment of 10 percent would push 38 percent of creditworthy borrowers out of the traditional mortgage market and a 20 percent requirement would block out 61 percent, finds a new study from the University of North Carolina, Wayne State University and the Center for Responsible Lending. learn more
- US Mortgage Writedowns Could Cost Taxpayers $100bn
- Although the Federal Housing Finance Agency concedes that reducing the principal balances of underwater mortgages would better serve taxpayers over the long term than foreclosure, acting director Edward DeMarco says this strategy would cost taxpayers too much. learn more
- Deal Gets Closer on Foreclosures
- Federal and state officials hope by early February to announce a $25 billion settlement with five large banks over alleged foreclosure abuses. learn more
- Sales Stir Hope for Housing Market
- Despite projections that 2011 would be the worst year ever for existing-home sales, the numbers came in 1.6 percent higher than in 2010. learn more
- FHA Takes Steps to Limit Risk of Bad Loans
- The FHA plans to protect it insurance fund from further losses by compelling some lenders to indemnify HUD for "serious and material" violations and for "fraud and misrepresentation" on loans that should never have been made. learn more
- Fannie Paints Gloomy Refinance Picture
- Fannie Mae expects mortgage refinancings to shrink 40 percent to a volume of about $540 billion in 2012. learn more
- Consumers More Confident, Survey Says
- Fannie Mae's December National Housing Survey indicates that 26 percent of Americans believe home prices will rise over the next year, an improvement of 4 percentage points from the previous month. learn more
- Home Affordability Reaches 1971 Level
- Homes are at their most affordable level since 1971, but many home buyers are unable to take advantage of low prices and favorable borrowing costs due to stricter mortgage standards. learn more
- Mortgage Insurance Tax Break Evaporates
- The cost of homeownership could rise this year due to the expiration of the mortgage insurance deduction at the end of 2011; as of Jan. 1, home buyers and owners cannot write off the premiums they pay for MI. learn more
- Fed Plans to Make Rate Expectations Public
- The Federal Reserve will start announcing the interest-rate projections of its policymaking committee members, according to minutes from the central bank's last session. learn more
- Low Mortgage Rates Likely to Continue Through 2012, Experts Say
- Housing experts believe that high unemployment and continued home price depreciation in many areas will keep many would-be buyers on the sidelines in 2012. learn more
- Mortgage Debt Jumps in Every US Region in November
- Mortgage default rates rose to 2.17 percent in November as Americans increased their home loan debt, according to the latest Standard & Poor's/Experian indices. learn more
- Mortgage Debt Jumps in Every US Region in November
- Mortgage default rates rose to 2.17 percent in November as Americans increased their home loan debt, according to the latest Standard & Poor's/Experian indices. learn more
- Housing Starts Are the Highest Since April 2010
- The Commerce Department reports that housing starts grew 9.3 percent in November to a seasonally adjusted rate of 685,000 -- the highest annual pace since April 2010. learn more
- Will a Mortgage Settlement Happen This Christmas?
- Iowa Attorney General Tom Miller, who is leading settlement talks with the nation's top five mortgage servicers, had hoped that an agreement could be reached by Christmas. learn more
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