As we reported in CVAR Connect a couple weeks ago, Fannie Mae’s monthly Home Purchase Sentiment Index showed that respondents who thought it was a good time to buy a home decreased from 61% to 53%. Despite that decline in confidence, the pandemic has both increased and altered demand for housing, and it has also […]
July 13 – CVAR Connect
CVAR’s COVID-19 Resources REALTORS®: Updates & Guidelines What’s Happening at CVAR under COVID-19 restrictions Citrus Valley Association of REALTORS® is conducting all business remotely. Meetings and classes presented by CVAR will be online and free of charge (see available classes below). IRS: July 15 Deadlines! Latest COVID-19 Updates from C.A.R. ____________ 2-Minute Tip: Showings During COVID _____________ Free Online […]
Fannie, Freddie Announce Mortgage Deferral
Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to the COVID-19 pandemic. According to announcements from the two companies last week (May 13), homeowners in forbearance can now request payment deferrals as early as July 1. This allows any missed payments to be made up at the end of […]
May 11 CVAR Connect
CVAR’s COVID-19 Resources REALTORS®: Updates & Guidelines What’s Happening at CVAR under COVID-19 restrictions IRS: Tax Relief for Business Latest COVID-19 Updates from C.A.R. Citrus Valley Association of REALTORS® is conducting all business remotely. Meetings and classes presented by CVAR will be online and free of charge (see available classes below). Legal Update Click this link to join […]
Fannie, Freddie to Buy Loans in Forbearance – With a Catch
(April 27 UPDATE: Fannie Mae and Freddie Mac’s regulator said Monday that borrowers benefiting from programs that let them skip mortgage payments due to the coronavirus pandemic won’t have to make lump-sum repayments when the crisis passes.) The Federal Housing Finance Agency (FHFA) has announced that it will allow Fannie Mae and Freddie Mac to […]
Fannie, Freddie Subpoenaed in Commission Lawsuit
Plaintiffs in an antitrust lawsuit that could shake up the real estate industry have subpoenaed mortgage giants Fannie Mae and Freddie Mac, sharpening scrutiny of real estate commissions nationwide. The subpoenas were issued by the smaller of two bombshell commission lawsuits filed against the National Association of Realtors and real estate franchisors Realogy, Keller Williams, RE/MAX, HomeServices […]
Fannie, Freddie Up Loan Max
Fannie Mae and Freddie Mac will let mortgage borrowers nationwide take out home loans over $500,000 in 2020. The Federal Housing Finance Agency announced last Tuesday that it will increase the limit on conforming loans, meaning mortgages that adhere to the standards imposed by Fannie Mae and Freddie Mac to a maximum of $510,400 nationwide. In […]
Housing Could Buoy the Economy in 2020
Fannie Mae economists have upgraded the economic outlook for the coming year, and a big reason behind that is expected growth in the housing market. Housing added to economic growth in the third quarter for the first time in more than a year and a half. That momentum will likely continue in the fourth quarter […]
No Appraisal Required for Certain Homes
Certain home sales of $400,000 or less will not need an appraisal since federal regulators approved a proposal to increase the threshold at which residential home sales require an appraisal. Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase […]
Privatizing Fannie & Freddie
On Thursday the Trump Administration proposed a plan that would bring mortgage buyers Fannie Mae and Freddie Mac out of government conservatorship, where both have been for 11 years after being bailed out by the government in the wake of the 2008 financial crisis. The plan includes a spate of broad legislative and administrative proposals […]