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December New Home Purchase Mortgage Applications Increased 42.2 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2020 shows mortgage applications for new home purchases increased 42.2 percent compared from a year ago. Compared to November 2020, applications increased by 0.2 percent.
AccuSearch Company
Realtors® Respond After FHFA, Treasury Announced PSPA Changes
National Association of Realtors® President Charlie Oppler issued the following statement after the Federal Housing Finance Agency and U.S. Treasury Department on Thursday announced changes that will allow Fannie Mae and Freddie Mac to retain more of their earnings as important capital rather than passing them directly to the Treasury.
Real Title Services
Realtors® Unveil Updated & Expanded Research on its Fannie, Freddie Utility Proposal
The National Association of Realtors® hosted some of the brightest minds in the housing finance world Thursday afternoon for a virtual event focused on fine-tuning the trade association's ongoing proposal to transform Fannie Mae and Freddie Mac into mortgage market utilities.
MBA Statement on Amendments to the GSEs' Preferred Stock Purchase Agreements
MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding amendments to the Preferred Stock Purchase Agreements (PSPAs) governing the conservatorships of Fannie Mae and Freddie Mac (the GSEs).
December New Home Purchase Mortgage Applications Increased 42.2 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2020 shows mortgage applications for new home purchases increased 42.2 percent compared from a year ago. Compared to November 2020, applications increased by 0.2 percent.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 16.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 8, 2021.
Fidelity National Financial Announces Close inHere, A Dynamic, Mobile-Friendly, Guided Closing Experience To Accommodate Simpler, More Efficient Hybrid And Full-Digital Real Estate Closings
Fidelity National Financial®, a leading provider of title insurance and transaction services to the real estate and mortgage industries and the nation's largest title insurance company, through its title insurance underwriters, announced today Close inHere™, a dynamic, guided digital closing experience for consumers finalizing any type of real estate transaction.
Share of Mortgage Loans in Forbearance Decreases to 5.46 Percent
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased from 5.53% of servicers' portfolio volume in the prior week to 5.46% as of January 3, 2021. According to MBA's estimate, 2.7 million homeowners are in forbearance plans.
Stewart Title® is Pleased to Announce the Opening of a New European Underwriter
Stewart Title Limited, the underwriter for Stewart’s transactions in the United Kingdom, The Bahamas and Australia (and previously in Europe), announced today the opening of a new underwriter in Malta. The new underwriter will operate under the name Stewart Title Europe Limited and will handle all transactions in the European Union.
Quick Links
Advancing the Acceptance of Remote Digital Real Estate Closings
Both homebuyers and sellers have expressed a desire to reduce in-person meetings with settlement service providers and want to have remote digital real estate closing options available even after the pandemic ends. We have the technology to do this, but the laws and business practices need to catch up so that we can provide safe, remote digital real estate closings.

How Biden's $1.9T stimulus plan impacts housing
President-elect Joe Biden's $1.9 trillion financial plan, unveiled Thursday as the American Rescue Plan, includes a call for extending the national moratorium on evictions and foreclosures until Sept. 30, while also setting aside funds to provide legal assistance to households facing foreclosure or eviction. Biden is also calling for an additional $30 billion in funding for emergency rental, energy and water assistance for hard-hit households, plus $5 billion in emergency assistance to people experiencing or at risk of homelessness.

30-year jumbo mortgage rate rises (but it's still pretty low)
The average rate on a 30-year jumbo mortgage ticked up 5 basis points this week, coming in at 3.46 percent. That's in line with expert predictions from last week, when most in Bankrate's weekly poll said they expected rates to rise.

Spruce launches new digital tool for real-estate closings amid proptech industry boom that's pushed traditional home buying and
Spruce, a real-estate tech company that creates digital closing tools for residential transactions, is launching a white-label version of its closing service. Called SprucePowered, the software will allow proptech companies to create their own title agencies, bringing the entire closing process into their own firms without having to build their own solutions or acquire digital closing companies.

No more anonymous home buyers: New law requires shell companies to name their owners
The new law will require domestic and foreign LLCs doing business in the U.S. to disclose "who is the real, natural person (aka beneficial owner) who owns and controls an entity at the point of formation," as well as update the information if the company changes ownership. The information will be stored in a federal database accessible to banks and law enforcement agencies but not available to the general public.

Clerks condemn lawsuit challenging COVID office hours
City Clerk John Odum and more than 200 of his colleagues across Vermont and the Northeast have responded to a recently filed lawsuit with a letter to the plaintiffs. According to the letter, the lawsuit, which was filed by the Connecticut Attorneys Title Insurance Co. last month, would, if successful, compel Vermont municipal clerks' offices and town halls to immediately return to pre-pandemic open office hours.

Purchaser Has No "Notice" from an Erroneous Abstract of Judgment
A judgment creditor can record an abstract of judgment, a document that identifies the judgment debtor and the amount of the debt. But what happens when the abstract of judgment doesn't accurately identify the judgment debtor?


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