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Category Archives: Lending
When the Home Valuation Code of Conduct (HVCC) was instituted, many lenders began outsourcing their appraisal procurement and other collateral valuation process to AMCs as they felt it was easier to stay in compliance using a third party. Putting it simply, HVCC was intended to increase oversight and eliminate improper pressure and relationships between lenders and appraisers. Since the advent of the HVCC, now replaced by the very similar Appraiser… Continue reading
The latest FNC Residential Price Index™ (RPI) shows the U.S. housing market continued to recover, recording in March the 13th consecutive price increase. In recent months, the ongoing housing recovery has maintained its pace with steady and persistent gains in home prices despite signs of continued job market weakness and soft economic growth.
Low interest rates continue to be a key driver of rising housing demand. The market… Continue reading
Demand for new mortgages is finally revving up—among big spenders, anyway.
Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by mortgage-technology company FNC.
It’s the latest sign that jumbo loans, defined as $417,000 and up in most places ($625,500 and up in high-cost areas), are boosting sales of… Continue reading
What do FNC’s Collateral Management System® and our ports do for lenders? FNC cofounders Bill Rayburn and Bob Dorsey discuss.
Today’s guest post comes from Robert Katula, who blogs at Under the Blue Tarp.
The Federal Reserve must be sick and tired of the housing crisis. Chairman Ben Bernanke made it perfectly clear during yesterday’s press conference that housing is THE headwind slowing down the economy. Little does the Federal Reserve know that the Scales of Justice, as a metaphor, is one of the main reasons behind… Continue reading
Wishful thinking! That’s what one real estate analyst says in response to media reports that claim the real estate market will soon make a turn for the better.
Keith Jurow, author of “The Housing Market Report” at Minyanville.com, recently went on the record with the Wall Street Journal: “I’m just trying to warn readers, so they know what’s going on.”
Jurow said his research indicates that in… Continue reading
Much of the business news reported this week points toward more reasons for general thanksgiving. Earlier in the week Bill and Bob on FNC’s Morning View discussed the negative effect Europe’s financial crisis was having on U.S. banks and lending. One solution they posited was for the central banks to step up and offer more support, and by Wednesday, AP was reporting that just such a move had been… Continue reading
Early reports indicate that consumer spending over the Thanksgiving holiday beat many estimates with some reports indicating a 15% year-over-year increase.
In this Monday’s Morning View with Bill and Bob, the discussion centered on what effects, if any, this higher retail spending might have on other areas of our economy, like the housing market.
The guys roundly agreed that spending was much more fun than saving, and expressed… Continue reading
It seems fitting on this Thanksgiving week that there is at least some positive news being reported in the media. On Tuesday, CBS MoneyWatch led with a story by Ilyce Glink titled: “Home sales up, but housing prices continue to fall nationwide.” Though acknowledging that the sales numbers, according to a survey by the National Association of Realtors®, only increased by 1.4%, and admitting that this increase would amount… Continue reading
Original sin, as an economic concept, refers to a country, corporation, or individual borrowing in a denominated currency other than its own. In the 17 European Union countries that hold the euro as their legal tender, original sin ties weaker economies, like Greece’s, to stronger nations such as Germany.
Bill Rayburn noted that many U.S. banks have already disclosed their connections to the European debt… Continue reading