Homeowners have a strong interest in sophisticated loan products such as loan modification options and assumable and portable mortgages, according to a survey sponsored by Thornburg Mortgage Inc., a Santa Fe, N.M.-based residential lender.The nationwide survey revealed that when asked if they would "ever use a loan product that let them change the terms of their loan without refinancing" -- a loan modification option -- nearly three-quarters of homeowners participating in the survey (74%) indicated that they would. Nearly six in 10 homeowners (59%) said they would use a loan that let them "transfer their current mortgage to a new property" -- a portable mortgage -- and 56% said they would use a loan option that let them transfer their mortgage to a buyer -- an assumable mortgage, Thornburg reported. Thornburg, which focuses mainly on the jumbo segment of the adjustable-rate mortgage market, can be found online at http://www.thornburgmortgage.com.
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Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
November 22 -
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
November 22 -
Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.
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Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
November 22 -
The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.
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Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.
November 22