Team Thayer Property Servicing

Fannie Posts Q4 Losses, but Remains Optimistic On Wednesday,  Fannie Mae  released its Q4 2017  financial statement , and as expected, the GSE posted major losses for the quarter. It also posted an annual revenue in 2017 that was nearly $10 billion down from 2016. By the end of Q4, Fannie posted a drop of $3.7 billion in overall net worth and a loss of $6.5 billion. The GSE's net income in 2017 was $2.5 billion, down from $12.3 billion the year before. Pre-tax, however, those numbers work out to $18.4 billion in 2017, compared to $18.3 billion in 2016. In a statement, Fannie President and CEO Timothy Mayopoulos said, “Our 2017 results demonstrate that the fundamentals of our business are strong. While the fourth quarter was affected by a one-time accounting charge, we expect to benefit from a lower tax rate going forward.” Mayopoulos' optimism aside, Fannie still has nearly $4 billion to make up, and the agency is expected to ask for government assistance for the fi

2018 Housing, Rising Rates to Affect Home Buying! Team Thayer.com The study, which was conducted in late 2017 targeted 14 major metro areas across the U.S. and compared the answers of the respondents to a similar study conducted by Redfin in May 2017. According to the findings, only 6 percent of the people surveyed said that they would halt all plans of buying a home if the mortgage rates touched 5 percent or more during the year, showing a modest one-point increase from the earlier survey. In contrast, 27 percent of the respondents said that an increase in interest rates would slow down their home search, down two points from the last survey. The  study  indicated that 21 percent of the respondents would consider buying a home that was smaller or in another area if the interest rates increased, showing a three-point increase over a similar response in the earlier study. Interestingly, consistent with the number in the last study, 25 percent of the respondents said that an

Except for in the hurricane-hit states of Florida, Texas, and Puerto Rico, delinquency rates across the U.S. declined in November 2017 on a year-over-year basis, according to the Loan Performance Insights Report released by  CoreLogic  on Tuesday. The  report  examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. Nationally, the report indicated, 5.1 percent of mortgages were at some stage of delinquency in November 2017, down from 5.2 percent recorded during the same period in 2016, showing a decline of 0.1 percent. The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.6 percent, down 0.2 points from 0.8 percent in November 2016. The report indicated that the foreclosure rate had held steady since August 2017 and was the lowest level since June 2007. However, transition rates for 60-day and 90-day delinquencies r

The Dow Jones industrial average closed down 1,200 points on Monday, after having dropped 1,500 points earlier in the day. This came on the heels of a 666-point drop in the Dow last Friday. With the Standard & Poor’s index down in four out of the last five sessions and Nasdaq won the last six out of eight, what’s causing this level of investor skittishness, and what does it mean for the housing industry? The Washington Post  throws the stock turmoil into stark relief, pointing out that the Dow “has swung more than 2,100 points in the last two sessions, a decline pushing more than 8 percent and shattering long-term momentum.” The  Post  cites changes at the Fed as one likely contributing factor, with new Fed Chair Jerome Powell having just taken over from the departing Janet Yellen. While Powell, who was officially sworn in on Monday, is widely expected to continue many of the cautious policy approaches championed by Yellen during her time in the role, a new Fed Chair can nevert

Over the past several years, many homebuyers have traded big-city living for an abode in the ’burbs. But flash ahead to now, and those same folks may be kicking themselves, at least if they take a look at  Zillow ’s recent research, which indicates dwellings in suburban locales are less valuable on a per-square-foot basis today than they were a decade ago. According to the report, which gives an analysis of home values in urban, suburban, and rural zones, as of December 2017, the median U.S. suburban home was worth $138 per square foot. Houses in urban markets boast a median value of $315,988, up 8.8 percent from last year. Homes sited in the suburbs, on the other hand, are valued at $234,443 (ahead 6 percent year-over-year) and $157,451 in rural spots (up 5.5 percent from December 206). While per-square-foot values for both urban and rural homes ($231 and $102 per square foot, respectively) have exceeded their pre-recession highs and are currently at new peaks, the current value