Data

CoStar, a research organization, reported that single family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations.

The Consumer Financial Protection Bureau (CFPB) issued a warning to consumers today about the misleading effects of reverse mortgage advertisements. The Bureau released results of a focus group study on reverse mortgage advertisements and found that many participants were left confused about the product. The study found that after viewing the ads, consumers did not understand that reverse mortgages were actual loans. Instead, they were left under the false impression that reverse mortgages are government-issued program that would help consumers stay in their home for the rest of their lives.

Global property information, analytics and data-enabled services provider CoreLogic, Inc. recently released its 2015 Storm Surge Analysis which found that more than 6.6 million homes on the Atlantic and Gulf coasts are at risk of hurricane storm surge damage. The total reconstruction cost value (RCV) is nearly $1.5 trillion for the storm surge damages.

TransUnion recently released their National Consumer Survey revealing that as Americans enter into the peak time of the year to buy a home, three out of four of people are aware that their credit score is important, yet they are not sure about how it will affect them when purchasing a home. The survey found that the majority of those who intend to or are considering buying a home in the next 12 to 18 months are not aware of actions that could enhance their credit and are unsure of how their credit directly affects the home financing process.

The Mortgage Bankers Association (MBA) reported today in its quarterly Mortgage Bankers Performance Report that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,447 on each loan they originated in Q1 2015, a sizable increase from a reported gain of $744 per loan in the Q4 2014.

According to a recent press release, CoreLogic, Inc., a leading global property information, analytics, and data-enabled services provider, announced that its nationwide building permit database has reached over 28 million residential, commercial, and industrial building permits. It also now tracks more than 35 permit types, covering 65 percent of the U.S. residential and commercial market.

Housing affordability is up nationwide due to low interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB). The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income.

Beginning on June 15, 2015, the US Securities and Exchange Commission’s (SEC) rule 15Ga-2 takes effect for new residential mortgage-backed securities (RMBS), according to Moody’s Credit Outlook Report. The rule is intended to provide transparency into the credit quality of mortgage loans underlying transactions. The rule will require issuers or underwriters of asset-backed securities (ABS) that nationally recognized statistical rating organization rate to publish the findings and conclusions of any third-party review (TPR) firms’ due-diligence reports on loan quality.

Fitch Ratings has released a sector-specific report for rating state housing finance agency (SHFA) bonds secured, on a pass-through basis, primarily by mortgage-backed securities (MBS) called "State Housing Finance Agencies: MBS Pass-Through Bond Rating Criteria." This report will replace the September 2014 state housing finance agency Fitch rating report.

CoreLogic, Inc. released its April 2015 Home Price Index (HPI) today, which shows that home prices nationwide, including distressed sales, increased by 6.8 percent in April 2015 compared with April 2014. CoreLogic is a leading global property information, analytics, and data-enabled services provider.