WASHINGTON—Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $744 on each loan they originated in the fourth quarter of 2014, down from a reported gain of $897 per loan in the third quarter of 2014, the Mortgage Bankers Association (MBA) reported on March 31 in its Quarterly Mortgage Bankers…
Read MoreWASHINGTON—A diverse group of housing industry stakeholders participated in a credit access symposium here on April 1 to discuss how alternative credit scoring models could expand access to mortgage credit for responsible borrowers who may have thin credit histories or extenuating circumstances like medical debts. The event, co-hosted by the National Association of Realtors, the…
Read MoreWASHINGTON—The gap between rental costs and household income is widening to unsustainable levels in many parts of the country, and the situation could worsen unless new home construction meaningfully rises, according to new research released on March 16th by the National Association of Realtors. NAR reviewed data on income growth, housing costs and changes in…
Read MoreThis column has frequently addressed issues of fair housing. Never previously addressed is the issue of fair lending. Realtors need a clear understanding of the significant changes that will become effective on August 1, 2015 when the TILA/RESPA final rule will become effective. What is TILA and What is RESPA? TILA is the Truth in Lending…
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