Good news today from Freddie Mac who believe mortgage rates are likely to remain near record lows for the first half of 2013, and expect property values to strengthen, according to its U.S. Economic and Housing Market Outlook.
The U.S. Department of Housing and Urban Development (HUD) has announced plans to sell as many as 40,000 distressed homes via its Distressed Asset Stabilization Program (DASP) in the next 12 months, according to Dan Green.
And finally President Obama's deficit commission proposed lowering the limit on mortgage principal eligible for a deduction to $500,000 from the current $1 million, removing any break for interest on a second home and turning the deduction into a tax credit capped at 12% of interest paid.
All these changes will mean changes to your software will have to adapt. Are you ready? More importantly, is your mortgage loan origination software ready?