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Mortgage News Daily

Flipped Home Market Share Surpasses 2006 Levels, But Things Are Different This Time

Posted To: MND NewsWire

Home flipping, buying a property with the intent to sell it in a short period of time at a profit, is more popular than almost ever , but a study by CoreLogic finds it has morphed into a different kind of business. Flippers are tending to hold on to property longer, and to add value rather than relying only on rates of appreciation. For the purposes of its study on the subject, CoreLogic used a two-year period to define a flip rather than the 12-months commonly employed. It did this to match the Internal Revenue Service's threshold for when real estate holdings can be considered owner-occupied and thus eligible for those capital gains exceptions. The longer holding period also makes a property eligible for the long-term rather than the higher short-term capital gains tax rate. Flipping has...(read more)

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MBS Day Ahead: Bonds Making Case For Friendly Bounce But Data Could Disagree

Posted To: MBS Commentary

Here's a quick recap of the past year or so. Bond yields were near long-term highs in the first part of 2018 following the passage of the tax bill and generally strong economic data. Rates surged to even higher long term highs in October and November (ongoing improvement in US econ data, hawkish Fed, rotation into stocks). At that point, a combination of European/Chinese weakness, a potentially overly-hawkish Fed, and high rates sent the stock market into a tailspin. Bonds benefited in a big way. After dropping 70bps in less than 2 months , 10yr yields took a breather in the 2.55-2.80 range for the next two months. We turned our attention to the March 20th Fed announcement to cause the next big move. It did. In not so many words, the Fed was surprisingly helpful to bonds. They also mentioned...(read more)

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Warehouse, Underwriting Products; Agency News; Capital Markets Update

Posted To: Pipeline Press

In low down payment and HFA news, HUD, dba the FHA, has agreed to a 90-day stay in implementation of Mortgagee Letter 19-06 (regarding down payment assistance) to have a 90 day comment period. The flurry reminded the industry that there are lots of options out there for low down payment loans. For example, Wells Fargo’s retail arm offers its 3% down “ yourFirst Mortgage® .” Over in conventional land, there is something interesting as well. Anyone interested in lending to borrowers in that industry should read, “ Fannie’s HomeReady Program Allows for Cannabis Industry Financing .” Lots more conventional conforming news below. Lender Products and Services From industry-leading technology to professional expertise and convenient education opportunities,...(read more)

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Barbara Jenkins
Loganville, GA 30052

Direct: 678-639-0700
Mobile/Text: 404-401-0569

Solid Source Realty
Corporate office
10900 Crabapple Road, Roswell GA 30019
Office: 770-475-1130 Ext 4769

Fax:888-607-0732
Email: barbara@thehouseofsold.com

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