First American: Rising costs squeeze homeownership for millions
The cost of owning a home in the U.S. has jumped sharply in recent years, reaching an average of more than $1,700 per month in 2023 — a 17% increase since 2020 — according to an analysis by First American senior economist Sam Williamson.Using the most recent U.S. Census Bureau data, Williamson found
MBA, FHFA explore single credit report for mortgages
While the Federal Housing Finance Agency (FHFA) under President Joe Biden proposed a transition from a tri-merge to a bi-merge credit report system, the Mortgage Bankers Association (MBA) is now assessing the feasibility of moving to a single credit report for mortgage underwriting.Bob Broeksmit, pr
HUD signs agreement with South Korean housing finance agency to spur MBS investment
The U.S. Department of Housing and Urban Development (HUD) and Ginnie Mae on Friday signed a memorandum of understanding (MOU) with a South Korean housing finance authority, with the goal of increasing investment in U.S. agency mortgage-backed securities.The agreement, signed with the Korea Housing
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