August 12, 2020

In This Issue:

  • Fannie Releases New Manufactured Housing Resource for Lenders
  • Survey: Impact of the COVID-19 Pandemic on Texas Realtors
  • Lowest Mortgage Rates Ever Spur Historic Jump in Bond Supply
  • The Rise of IMBs

Fannie Releases New Manufactured Housing Resource for Lenders

TLTA Working with Fannie Mae to Educate Marketplace on the Manageability of Titling Manufactured Homes 
TLTA | Aug. 12, 2020
Recently, Fannie Mae began looking for ways to encourage lending on mobile homes as part of their approach to promoting more affordable housing. Fannie Mae has identified that one of the major challenges to acquiring a mobile home on real property is lenders' reluctance to lend on manufactured housing transactions due to uncertainty about the title and the classification of the dwelling as either chattel or part of the real property.  
 
Fannie Mae reached out to TLTA as part of their Texas effort to expand education efforts. TLTA is working with Fannie Mae to seek the best ways to educate lenders and other stakeholders on the manageability of titling mobile homes.  
 
As part of their national effort, Fannie recently produced this resource for lenders regarding titling requirements for manufactured homes state-by-state nationwide.  
 
If you have ideas to share on this topic, please send them to Aaron Day via [email protected].
 

Survey: Impact of the COVID-19 Pandemic on Texas Realtors

Hobby School of Public Affairs, University of Houston | July 2020
The COVID-19 pandemic is one the greatest challenges faced by the United States since World War Two. In response to the rising infections and deaths resulting from the virus, federal, state, and local governments have enacted stay-at-home orders and public health guidelines. These orders have had a negative effect on the economy, especially on medium and small businesses which are at the heart of economic activity in the state of Texas.

In this study, the fourth in the Hobby School’s series on the impact of COVID-19 on Texas businesses, we look at the Texas Realtors. To assess how real estate businesses have fared during the pandemic, the University of Houston’s Hobby School of Public Affairs partnered with the Texas Realtors Association to conduct an extensive survey of the association’s members. Close to 1,200 Realtors responded to the questionnaire, which was fielded between May 21 and June 10, 2020. 65% of survey respondents have been in the real estate business for more than ten years, and 88% of them work in real estate full-time. More than four-fifths primarily focus on residential homes, nearly 5% focus on commercial real estate, and 4.2% are property managers.
 
Review the Survey Report »
 

Lowest Mortgage Rates Ever Spur Historic Jump in Bond Supply

Bloomberg | Aug. 9, 2020
A deluge of supply has inundated the agency mortgage-bond market this year, as a plunge in lending rates triggered a wave of homeowner refinancings. But there are signs that relief may be forthcoming.
 
Gross supply as of the end of June has already reached $1.2 trillion, a torrid pace considering the last decade has averaged $1.3 trillion per annum. The 30-year mortgage rate has repeatedly hit record lows since the end of the first quarter -- it reached 2.88% on Thursday. Federal Reserve policy, which lowered interest rates back to zero and resumed quantitative easing due to COVID and the subsequent lockdowns, has certainly been a contributing factor.
 
The Fed has bought mortgages at a blistering pace. Between March 16 and the end of June, the bank added almost $788 billion to its balance sheet. As total gross supply from March through June was $905 billion, this helped sector spreads tighten back to levels seen before the pandemic.
 
Read More »
 

The Rise of IMBs

HousingWire Magazine | Aug. 7, 2020
When the Consumer Financial Protection Bureau released the 2019 Home Mortgage Disclosure Act data there was one key shift that was evident from the start – independent mortgage banks clearly stepped up their game.
 
Read More » 

If you need a primer on the basic manual and what's inside, or practical guidance on the most common procedural and rate rules you'll encounter on the job, this live webinar scheduled Aug. 18 has everything you need:
And don't forget, our library of more than 80 On-Demand webinars and videos covers the title industry topics you need to earn continuing education hours and stay ahead of the curve on the latest industry trends!

Check out these new additions to our on-demand video library, which were recorded during the 2020 Virtual Annual Conference and Business Meeting: