Homeownership Trends Go Both Ways -Study

Posted To: MND NewsWire

MND recently summarized an analysis by the Urban Institute about a recent Fannie Mae pilot program to underwrite securitization of a $1 billion loan written by Wells Fargo to Blackstone Group, collateralized by thousands of single-family rental properties. That article alluded to the large number of formerly owner-occupied homes that became rentals (an estimated three million) during the housing crisis. The Mortgage Bankers Association (MBA) has just released a study from the Research Institute for Housing America (RIHA), authored by Stuart S. Rosenthal, Maxwell Advisory Board Professor of Economics at Syracuse University, that indicates that such a shift was not necessarily an unusual one . "A striking feature of the last housing crisis was the dramatic shift of owner-occupied homes into the...(read more)

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from Mortgage News Daily http://ift.tt/2kTjE2F