NMP - December 2016 - 67


nmp news flash

continued from page 37

LTV ranges have undermined their
ability to average pricing
effectively, and to ensure that the
broadest range of underserved
borrowers have access to the
wealth-building opportunity of
homeownership.
"The [GSEs'] current average
guarantee fees are far higher than is
required to cover the expected
losses on their current book of
pristine business," the letter
continued. "Defaults on the most
recent originations are tracking well
below 2001-2004 mortgages at the
same age, when average guarantee
fees were far lower and there were
no loan-level price adjustments
(LLPAs). We believe that FHFA has
considerable latitude to allow both
Enterprises to reduce their average
guarantee fees as well as their
pricing on lower credit score and
higher LTV loans without
significantly affecting the
Enterprises' overall economic
results."
The organizations also
requested to meet with the FHFA
and the Treasury Department to
discuss the matter further. Among
the organizations that signed the
letter were the California
Reinvestment Coalition, the
NAACP, the National Community
Reinvestment Coalition and the
Woodstock Institute.

When it comes to housing, the U.S.
is very much a suburban-focused
nation, according to a new
publication from the Urban Land
Institute (ULI) titled "Housing in the
Evolving American Suburb."
The ULI report determined that in
the nation's 50 largest and most
urbanized metropolitan areas,
suburbs account for 79 percent of
the population, 78 percent of the
households, 32 percent of the land
area and-in a shout out to those
ubiquitous Millennials-75 percent
of the young adults aged 25 to 35.
Suburban areas made up 91
percent of population growth and 84
percent of household growth
between 2000 and 2015-the
median household income in the
suburbs is $71,000, compared to
$49,200 for urban areas. And the
suburbs are slowly becoming an
employment magnet: jobs increased
by nine percent in suburbs between
2010 and 2014, compared to six
percent in urban areas.
In terms of housing, the median
home value in urban areas is
$365,000 compared to $305,000 in
suburban areas. However, there are
regional anomalies: the New York
metro area, for example, offers
median home values that are 28
percent higher in urban areas than
in the suburbs.
Your turn
National Mortgage Professional
Magazine invites you to submit any
information on regulatory changes,
legislative updates, human interest
stories or any other newsworthy
items pertaining to the mortgage
industry to the attention of:
NMP News Flash column
Phone #: (516) 409-5555
E-mail:
newsroom@nmpmediacorp.com
Note: Submissions sent via e-mail
are preferred. The deadline for
submissions is the 1st of the month
prior to the target issue.

67

n National Mortgage Professional Magazine n DECEMBER 2016

Construction employment reached
its level since November 2008,
according to an analysis by the
Associated General Contractors of
America.
Last month saw 6.7 million
people employed in construction,
an increase of 19,000 from October
and an increase of 155,000 from a
year ago. Residential construction
added 19,600 jobs in November
from one month earlier and
120,400, or 4.8 percent, compared
to a year ago. Nonresidential
building construction employment
rose by 300 employees in
November and 6,600 (0.9 percent)
over the year. But heavy and civil
engineering construction firms
dropped 2,100 jobs for the month
and 4,400 (-0.5 percent) since
November 2015.
"This report shows the
construction industry has the
capacity to handle additional
infrastructure work even as private

Report Finds Suburbs
Outpacing Urban Areas

NationalMortgageProfessional.com

Construction Employment
at Eight-Year High

nonresidential projects, apartments
and homebuilding continue to go
up," said Ken Simonson, the
association's chief economist. "The
industry would be adding more highpaid jobs if local, state and federal
officials were investing more to build
new and repair aging infrastructure."


http://www.NationalMortgageProfessional.com http://www.mortgagecollaborative.com

Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
NMP - December 2016 - 9
NMP - December 2016 - 10
NMP - December 2016 - 11
NMP - December 2016 - 12
NMP - December 2016 - 13
NMP - December 2016 - 14
NMP - December 2016 - 15
NMP - December 2016 - 16
NMP - December 2016 - 17
NMP - December 2016 - 18
NMP - December 2016 - 19
NMP - December 2016 - 20
NMP - December 2016 - 21
NMP - December 2016 - 22
NMP - December 2016 - 23
NMP - December 2016 - 24
NMP - December 2016 - 25
NMP - December 2016 - 26
NMP - December 2016 - 27
NMP - December 2016 - 28
NMP - December 2016 - 29
NMP - December 2016 - 30
NMP - December 2016 - 31
NMP - December 2016 - 32
NMP - December 2016 - 33
NMP - December 2016 - 34
NMP - December 2016 - 35
NMP - December 2016 - 36
NMP - December 2016 - 37
NMP - December 2016 - 38
NMP - December 2016 - 39
NMP - December 2016 - 40
NMP - December 2016 - 41
NMP - December 2016 - 42
NMP - December 2016 - 43
NMP - December 2016 - 44
NMP - December 2016 - 45
NMP - December 2016 - 46
NMP - December 2016 - 47
NMP - December 2016 - 48
NMP - December 2016 - 49
NMP - December 2016 - 50
NMP - December 2016 - 51
NMP - December 2016 - 52
NMP - December 2016 - 53
NMP - December 2016 - 54
NMP - December 2016 - 55
NMP - December 2016 - 56
NMP - December 2016 - 57
NMP - December 2016 - 58
NMP - December 2016 - 59
NMP - December 2016 - 60
NMP - December 2016 - 61
NMP - December 2016 - 62
NMP - December 2016 - 63
NMP - December 2016 - 64
NMP - December 2016 - 65
NMP - December 2016 - 66
NMP - December 2016 - 67
NMP - December 2016 - 68
NMP - December 2016 - 69
NMP - December 2016 - 70
NMP - December 2016 - 71
NMP - December 2016 - 72
NMP - December 2016 - 73
NMP - December 2016 - 74
NMP - December 2016 - 75
NMP - December 2016 - 76
NMP - December 2016 - 77
NMP - December 2016 - 78
NMP - December 2016 - 79
NMP - December 2016 - 80
NMP - December 2016 - 81
NMP - December 2016 - 82
NMP - December 2016 - 83
NMP - December 2016 - 84
NMP - December 2016 - 85
NMP - December 2016 - 86
NMP - December 2016 - 87
NMP - December 2016 - 88
NMP - December 2016 - 89
NMP - December 2016 - 90
NMP - December 2016 - 91
NMP - December 2016 - 92
NMP - December 2016 - 93
NMP - December 2016 - 94
NMP - December 2016 - 95
NMP - December 2016 - 96
NMP - December 2016 - 97
NMP - December 2016 - 98
NMP - December 2016 - 99
NMP - December 2016 - 100
NMP - December 2016 - 101
NMP - December 2016 - 102
NMP - December 2016 - 103
NMP - December 2016 - 104
NMP - December 2016 - 105
NMP - December 2016 - 106
NMP - December 2016 - 107
NMP - December 2016 - 108
NMP - December 2016 - 109
NMP - December 2016 - 110
NMP - December 2016 - 111
NMP - December 2016 - 112
NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201910
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201909
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201908
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201907
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201906
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201905
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201904
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201903
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201902
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201901
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201812
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201811
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201810
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201809
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201808
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201807
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201806
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201805
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201804
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201803
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201802
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201801
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201712
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201711
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201710
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201709
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201708
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201707
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201706
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201705
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201704
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201703
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201702
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201701
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201612
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201611
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201610
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201609
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201608
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201607
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201604
http://www.nxtbookMEDIA.com