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Author Archives: Xhevrije West

Xhevrije West is a writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University.

The FHLBank System Completes First Merger in 80-Year History

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced today in a press release that it will merge with the Federal Home Loan Bank of Seattle (FHLB Seattle). More details concerning this new combination will be included in a related Form 8-K that FHLB Des Moines will file with the Securities and Exchange Commission.

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Boston Fed President Asks for a Delay in Interest Rate Increases

Fed

Eric Rosengren, president and CEO of the Federal Reserve Bank in Boston, said in his speech called “One Policymaker’s Wait for Better Economic Data” at the Capital Workforce Partners “Workforce Stars” Event in Hartford, Connecticut that, predictions concerning the economy have been much weaker than expected in the first half of this year. He also noted that policymakers should wait until the economy picks up before raising short-term interest rates.

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Study Finds that Mortgage Market is Shifting From Banks to Non-Banks

A working paper titled, “What’s Behind the Non-Bank Mortgage Boom?”, released by the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School found that, non-bank lending institutions have increased their market share of agency purchase mortgage originations from 27 percent in mid-2012 to 48 percent in late 2014. The study is authored by senior fellow, Marshall Lux, and research assistant, Robert Greene.

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Fannie Mae’s Mortgage Portfolio Decreases While Delinquency Drops to 1.73 Percent

Fannie Mae’s gross mortgage portfolio has decreased for the second consecutive month at a compound annualized rate of 17.4 percent in April, according to Fannie Mae’s April 2015 Monthly Volume Summary, released today. The GSE’s book of business decreased in April, dropping at a compound annualized rate of 2.1 percent, from $3.13 trillion in April 2014 to $3.11 trillion in April 2015, according to the summary. The book of business has only seen one positive compounded growth rate increase of 0.4 percent this year in March.

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FHFA: HARP Refinance Volume Continues to Grow for Q1

refinance

The Federal Housing and Finance Agency (FHFA) recently released their first quarter refinance report, revealing that refinance volume has increased in March, while mortgage rates remained near 20 month lows in February. The Home Affordable Refinance Program (HARP) had 31,648 refinances, bringing the total refinances through this program to 3,302,102 since it began.

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Study Reveals Impact of Payment Stress with Repayment of $265 Billion HELOCs

Experian Information Solutions Inc., a global information services company, recently released its latest analysis on U.S. lending trends related to home-equity lines of credit (HELOC). The study found that HELOC loans that originated between 2005 and 2008, representing $265 billion, are outstanding and are nearing the end-of-draw repayment phase.

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Waiting to Buy a Home Could Cost Consumers Thousands

The financial costs of delaying or forgoing a home purchase in today’s unexpected market have become very high, according to the inaugural Opportunity Cost Report released by Realtor.com, a leading provider of online real estate services operated by News Corp subsidiary Move, Inc.

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Congress Requests TRID Grace Period

CFPB

Representative Carolyn B. Maloney (D-New York), Andy Barr (R-Kentucky), along with 252 other House Members have wrote a letter to the Consumer Financial Protection Bureau (CFPB) requesting a grace period that would help lenders and home buyers comply with new TILA-RESPA Integrated Disclosure regulation. Congress members argue that the rule will place challenges on the entire housing industry and families that are looking to buy a home before the school year begins.

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