The Federal Housing Administration’s (FHA) Mutual Mortgage Insurance (MMI) Fund is performing at a 13-year high despite the coronavirus pandemic. The fund now is at the highest level since FY 2007, when it reached 7 percent.
The Department of Housing and Urban Development (HUD) recently released its annual report to Congress detailing the economic condition of the MMI Fund as of Sept. 30.
Read on for details from HUD.
The housing industry has exceeded expectations for 2020 and the marketplace will continue to see home price and sales growth into 2021, National Association of Realtors Chief Economist Lawrence Yun said at the 2020 Realtors Conference & Expo.
Yun said home sales set several records this year despite – and in some cases, because of – the coronavirus pandemic.
Read on for Yun’s predictions for 2021 under President-elect Joe Biden.
The National Association of Realtors (NAR) installed new leadership this week at the 2020 Realtors Conference & Expo. Read on to find out who will head NAR’s 2021 team.
The Florida Agency Network (FAN) is a conglomerate of independent title agencies, settlement service providers and technology companies throughout Florida. FAN consists of two wholly owned brands - Hillsborough Title, Inc. and Total Title Solutions, LLC – plus nine affiliated companies. Read on for Chief Operating Officer Mike LaRosa’s tips on the benefits of having affiliated businesses, and how to remain RESPA compliant with those companies in this open story.
Every metro area saw third-quarter home prices increase from a year ago, according to the National Association of Realtor’s (NAR) latest quarterly report.
Median single-family home prices grew year-over-year in all 181 metropolitan statistical areas tracked by NAR, as every measured market showed sales price gains. Sixty-five percent of metros witnessed double-digit growth from one year ago.
Read on for reaction from NAR Chief Economist Lawrence Yun.
Bank customers are conducting their banking via mobile apps more often than any other method, according to a new American Bankers Association (ABA) survey.
The national survey found bank customers preferred mobile apps both prior to and following the onset of the COVID-19 pandemic.
Read on for details from the ABA.
The Federal Housing Administration (FHA) has published a proposed rule on its website that highlights a proposal to allow a private flood insurance option instead of insurance through the National Flood Insurance Program (NFIP).
The proposed changes would allow lenders to begin accepting private flood insurance policies for single-family insured loans.
Read on for reaction from the National Association of Realtors, which has been touting private flood insurance since 2016.
Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger recently announced a major reorganization plan affecting the agency’s supervision, enforcement and fair lending division.
Some critics say the shakeup will limit the autonomy of the Office of Enforcement – which has had carte blanche to open investigations over the past 10 years.
Read on to see what Mayer Brown Partner Ori Lev, one of the founding members of the CFPB, told RESPA News.
The Department of Housing and Urban Development (HUD) has settled claims against Georgia housing providers accused of discriminating against a tenant with disabilities.
HUD filed the charge July 3 alleging the companies made housing unavailable and imposed discriminatory terms and conditions of tenancy in violation of the Fair Housing Act and state and local housing anti-discrimination laws.
Read on for details from the consent order.
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