Credit unions and other mortgage lenders faced an economic pinch in 2013 as rising interest rates began to squash demand for refinanced mortgage loans while demand for purchase money loans still struggled to grow.
Mortgage Bankers Association says its index showed uptick.
Delinquency rates drop, but older mortgages still troubled MBA says.
WASHINGTON—A panel of three housing finance executives and one regulator expressed strong confidence the 30-year, fixed rate mortgage will remain a key element of the U.S. housing finance market.
WASHINGTON—Freddie Mac CEO Donald Layton urged housing finance executives Oct. 28 to focus less on the fate of his company and Fannie Mae and more on the lending infrastructure the two have marshaled.
WASHINGTON—Richard Cordray, director of the Consumer Financial Protection Bureau, defended his agency’s qualified mortgage regulations against recent criticism during the Mortgage Bankers Association annual convention here Oct. 28. (See more coverage on page 3.)
Trade group sees 32% decline in overall volume next year.
Lenders need to be prepared for continual and often rapid shifts in the economy.
WASHINGTON — Sen. Elizabeth Warren says regs may be needed anew on bundled mortgage-backed securities.
WASHINGTON — Panel of bankers, regulators see no end in sight for 30-year, fixed-rate mortgage.