Category Archives: PEMCO News
New TILA-RESPA Disclosure Rules Simplify and Clarify
Photo credit: Got Credit Lenders must comply by October 3 Updated June 24, 2015. The Consumer Financial Protection Bureau (CFPB) issued a new rule that combines mortgage disclosures previously established by the Truth-in-Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) into a single rule effective October 3, 2015. To help lenders navigate […]
Read More →Minorities and Housing in 2015
By Tali Wee of Zillow Minorities across the country are still disproportionately denied conventional loans, drawing attention to the continued inequities in access to credit. Previously, PEMCO Limited detailed some of the causes for this disparity including minorities’ high debt-to-income ratios, low credit scores and human bias in underwriting. Updated results draw further attention to […]
Read More →Is the End Near for Fannie and Freddie?
Photo credit: Rental Realities Succumbing to earnings pressures, 30-year mortgages may see decline There’s been rumors going on for a few years about the federal government closing Freddie Mac and Fannie Mae. Although these GSEs were bailed out after the housing meltdown, they’ve since paid back the nearly […]
Read More →Discussing the Future of Mortgage Servicing at MBA Servicing 2015
Photo credit: Howard Lake Transitioning to self-service model At the Gaylord Texan Hotel and Conference Center, many of the attendees of the MBA Servicing 2015 conference are buzzing about what the future holds for the mortgage servicing business. Everyone is throwing in their two cents on how they […]
Read More →Valuations Will Change with Fannie Mae’s Collateral Underwriter
Photo credit: FutureAtlas.com Shaking out inexperience and corner-cutting Fannie Mae unleashed its Collateral Underwriter (CU) application on January 26th and in March, Freddie Mac will roll it out. The program’s purpose is to review every submitted appraisal for accuracy, overvaluations and undervaluations, the use of the “right” comparables and consistency. Appraisals are reviewed […]
Read More →Will Homes Become Less Affordable in Three Years?
Small increases in interest rate can make half of metros unaffordable Housing affordability is the real economic challenge facing the U.S. according to the latest outlook report by Deutsche Bank (DB). The ability for an American with a median-income to be able to purchase a home is slipping quickly. Chances are not expected to improve […]
Read More →Freddie Mac Predicts Big Growth in Housing for 2015
Photo credit: Montgomery County Planning Commission Continuing 2014’s Robust Latter Half Through the Next Year Freddie Mac’s December 2014 U.S. Economic and Housing Market Outlook, predicted that there will be a 4 percent increase in sales in 2015, the highest since 2007. 2015 home sales are expected to reach up to 5.6 million units and powering […]
Read More →Big Increases in Millennial Home-Buying Expected in 2015
Photo Credit: JT Tarantino Millennials settling into careers and family life Millennial buyers are expected to power a stronger and more expensive housing market in 2015. This is according to a Realtor.com 2015 Housing Forecast. One of its five big predictions for 2015 is a […]
Read More →Buying a Home is Half the Cost of Renting
Photo Credit: Steven Depolo The big debate in housing and financial industry circles in the post-housing crisis world has centered on whether to rent or buy, triggering endless lists of pros and cons of both. In recent years, renting nearly became the default housing arrangement among […]
Read More →Fannie Mae, Freddie Mac Will Soon Back 3% Down Mortgages
Photo Credit: 401K Calculator Two slightly different programs may spur increases in home-ownership Recently, housing finance giants Freddie Mac and Fannie Mae announced plans to back mortgages with down payments […]
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