Tag Archives: Fannie Mae

Fannie Mae April Survey Indicates Americans More Optimistic About Housing

The expectation for home prices and the percentage of those who think the U.S. economy is on the right path reached record highs in Fannie Mae’s April 2012 National Housing Survey.

The Fannie Mae survey polled a nationally representative sample of 1,000 respondents aged 18 and older between April 4, 2011 and April 27, 2012.

I’m sorry to say that the Fannie Mae poll may only reflect a mere flicker of hope.  After the poll was completed, troubling unemployment numbers were released, and since a stronger housing market depends on an improving labor market the latter information undermined the former.

The recent unemployment numbers do “not provide comfort that the current environment supporting the housing market is brightening. Whether recent improvement in sentiment will translate into a stronger market for home sales depends on near-term developments in the labor market.” says Doug Duncan, Chief Economist at Fannie Mae.

I tend to agree, and while I hope that the poll is more than an aberration, I’m doubtful.

What do you think about the housing market?

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Filed under A Need to Know Basis

Treasury Department To Pay Servicers For Quicker Loan Modifications

The Treasury Department will pay mortgage servicers more for modifying loans in an earlier stage of delinquency and less the longer the process takes, according to guidelines released July 6, 2011.

The guidelines, effective October 1, will be adopted by Fannie Mae when the Federal Housing Finance Agency releases the new mortgage servicing fee structures.

Through HAMP, a servicer receives $1,000 when a homeowner is placed in a verified income trial modification for three months before becoming permanent. Effective October 1, mortgage servicers will receive $1,600 if the trial starts before a loan becomes more than 120 days delinquent, $1,200 for loans between 121 days and 210 days delinquent and $400.00 for loans placed in the trial stage after being 210 days delinquent.

Servicers are prohibited from requiring borrowers to make past due payments before entering a trial modification which would result in a higher fee for the servicer.

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Filed under A Need to Know Basis