In this week’s Reverse Focus podcast, Shannon Hicks discusses a recent survey suggests that mortgage originators are in for a “real” reality check this year, with 69% of originators saying they believe originations will drop this year, according to Hammerhouse’s Annual Survey of Originator Opinions.
Also discussed, the national housing market has showed a significant drop in the number of foreclosure starts and continued gains in home equity as home prices remain stable through February, notes the latest Obama Administration Housing Scorecard. The month saw its lowest level of foreclosure starts since 2005, while home equity exceeded $10 trillion for the first time since 2007.
Banker groups raise concerns that new mortgage regulations will reduce credit availability to the public and restrict lending overall. Nearly 80% of respondents to the American Bankers Association Real Estate Lending Survey say new rules under the Dodd-Frank Act will measurably reduce credit access to borrowers.
Lastly, the National Association of Realtors are urging the Federal Housing Administration to lower its mortgage insurance premiums, which the group says have been pricing prospective home buyers out of homeownership.
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- Reality check for mortgage originators
- Foreclosure starts drop as home equity gains
- New rules restrict mortgage market, says Bankers
- Realtors urge FHA to lower insurance premiums
Listen Now. “Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Focus.