Rising costs could test mortgage servicers’ strategies

Both housing prices and mortgage rates have been rising, and both trends show no sign of slowing. Fortunately, there are steps you can take to deal with higher prices and rates. Mostly, it involves extending your search to a greater number of communities, buying a home with a price tag that is lower than the maximum you can afford and being open to buying a residence that might need more work after you move in.

At the end of 2018, there was a great deal of trepidation in the market. With so many factors impacting the housing industry and new factors cropping daily, prediction in any market is difficult. However, there are tools that can help residential mortgage lenders and servicers ensure a smooth process. Read on to learn more.

There are a lot of predictions, as of late, as to how rising rates will impact the mortgage industry in 2017. On the origination side, most economists are forecasting that refinances will decrease about 40% as a result of higher rates – however, pent-up demand from first-time home buyers.

The net servicing fee is that amount of the gross servicing fee that is left after paying the GSE’s guaranty fees and other fees. Typically, for conventional servicing, the net servicing fee is about 25 bps (0.25%) of the balance of the underlying loan; for GNMA servicing, the net servicing fee is typically 44 bps.

Chase tries to carve out mortgage niche with millennials With a conventional loan, the private mortgage insurance can also go away — unlike FHA mortgage insurance premiums, which continue to be assessed over the life of a loan, even after you have 20 percent equity in a home. Piggyback loans. Millennials can sidestep mortgage insurance altogether by choosing a lender that offers "piggyback" loans.Eric Weisbrot People on the move: Sept. 1 Surging prices for new homes suggest tight low-end supply By Eric Weisbrot A construction subcontractor surety bond will open doors for any subcontractor. They provide a guarantee to the job owner that.Senior HUD official named FHFA deputy director For now, to continue to act as ICE chief, he has been signing his name with the title “deputy director and Senior Official Performing the Duties. which represents HUD employees. Telework – a.

Fed Reverberations: Market Starts Coming To Terms With Lower Rate Cut Hopes – In a sense, the Fed’s reluctance to ease borrowing costs. test flight: How can a company help address customer fears after its product is involved in two fatal accidents? Boeing faces that question.

In case you missed it, yesterday Director Cordray announced our proposed rule on student loan servicers. As so many families are all too aware, the cost of higher education has been steadily rising in recent years. As a result of these rising costs, more consumers need loans in order to afford college.

FHFA Announces Minimum Capital and Liquidity Requirements for Non-Bank Servicers . On January 30, 2015, the federal housing finance Agency (FHFA) proposed new minimum financial eligibility requirements for non-bank sellers and servicers of mortgage loans to Fannie Mae and freddie mac (the GSEs).