The likely next leader of the federal agency that oversees a key part of the mortgage industry testified told members of Congress last week he is prepared to lead the effort to “usher in the Golden Age of housing and mortgage accessibility.” William J. Pulte, President Donald Trump’s nominee for Director of the Federal Housing Finance Agency (FHFA), was one of four administration nominees to appear at a joint confirmation hearing before the Senate Committee on Banking, Housing and Urban Affairs.
Housing and mortgage experts are beginning to see a market shift in favor of buyers but remain cautious as to whether that will bring more originations for mortgage processors and underwriters. National real estate brokerage Redfin reported last week that the U.S. housing market tilted in favor of buyers for the first time this decade in January. The 3.7 months of for-sale inventory was the highest in six years.
Real estate brokerage Redfin reported that new listings of U.S. homes for sale rose 7.9 percent from a year earlier during the four weeks ending February 2. Meanwhile, pending sales are improving slightly, but still down 8.1 percent year over year. The uptick in new listings and lack of sales is contributing to a growing pool of supply for homebuyers to choose from.
Fannie Mae economists interpret a recent rise in the 10-year Treasury yield as a sign that home sales are far from rebounding from 30-year lows. In Fannie’s first monthly commentary of 2025, its Economic and Strategic Research Group raised its forecast on where 30-year mortgage rates will land by the end of the year. Fannie now sees rates closing this year at 6.5 percent instead of its previous forecast of 6.2 percent.
The mortgage industry will face its share of challenges, opportunities and unknowns in 2025. Here are a few trends on the horizon: Perhaps the biggest unknown for mortgage underwriters and processors is the effect of a second Donald Trump administration on the industry. The Biden administration’s priority in the housing sector was making housing more affordable and accessible. Vice President Harris and Trump both indicated a desire to make housing more affordable using different approaches.
When I hear those words, they immediately evoke images of a world in which mortgage underwriting decisions are determined by AUS systems that have no capacity to either employ common sense underwriting principals or fairly or adequately assess overall risk.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Next Monday, June 11th marks the first day of FHA’s significant MIP/MI rate decrease for certain FHA streamline refinance transactions. The following FAQs are presented in order to provide you with the information you need to make the best of this extraordinary marketing opportunity for existing FHA borrowers.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Like myself, I am sure many underwriters in this fine nation of ours spend a fair amount of their time on conference calls or web based training with new investors that their employers have recently became associated.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
DU for government loans is updating during the weekend of July 21st to accommodate a number of messaging changes on topics such as bankruptcy and foreclosure for VA lending, 3-4 unit property reserve calculations for FHA lending. A summary of the changes follows below.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
With FHA announcing streamline refinance opportunities with record low MIP for borrowers whose current FHA loan was endorsed prior to June 1, 2009, we can expect to see a big pickup on FHA streamline refinance loans after the June 11th reduced MIP effective date.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
My son and I have recently been having a recurring conversation regarding the benefits and down sides of technology. He is a music/computer science major and I find it interesting how it is a natural inclination for him to combine these two subjects.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
I am going to share a story of very recent origin which involves someone quite close to me and unfortunately is entirely true. I am hoping that by sharing this, it will bring light to some of the seedier business practices occurring today while also making people aware that there is recourse against lenders who consistently leave behind ethical practices in favor for business practices that violate not only the law but also their client’s personal rights.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
If you’re like me, you like to take FHA Mortgagee Letters and dissect them when they are released, put the content info format that makes most sense to you and completely re-create or break down the information that’s given. I often like to look at the information as if I am reading it from the point-of-view of someone who may not have many years of mortgage expertise so that I can take the info provided by FHA and re-present it in ways that prove the most helpful to those who rely on the information in day to day lending.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Mortgagee Letter 2012-3 announces several key guideline changes on topics of self-employment, disputed credit, outstanding collections and identity of interest definitions. These changes are good from the perspective that they offer much clearer underwriting requirements on several key topics so not as much is left to interpretation or opinion.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
HUD formally announced upcoming changes to the FHA mortgage insurance structure in an email that went out to single family email subscribers on February 27th. A Mortgagee Letter is expected in the near future which will communicate final full details of the upcoming changes to the FHA mortgage insurance structure.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.