No Private Mortgage Insurance
Program is know as HomeBuyer’s Choice: Navy Federal Credit Union, the 
world's largest credit union, announced its mortgage closings in March, its best month ever. The credit union’s offerings mostly cater to first-time home buyers and military families. For example, Navy Federal offers a conventional 100 percent financing fixed payment option with no private mortgage insurance that is known as HomeBuyer’s Choice. As Home prices are on the move this spring, as many markets inch closer to prices they haven't reached since the peak during the housing boom. "Our goal is to bring awareness and opportunity to members." Read more.
Backlog of Shadow Inventory Hitting Markets
REO Experience Largest Increase in Three Years:The percentage of short sales and REO sales jumped by 2.2 percentage points in the first quarter of 2015, the largest increase
since the first quarter of 2012, according to data released by Monday. Three
years ago, the last time distressed saturation rate experienced an
increase that large, nationwide distressed saturation hit a peak of 38
percent. For Q1 2015, the distressed saturation was reported at 19.8
percent nationwide with the largest share in the South at 23.2 percent.
The smallest share was in the West at 13.7 percent. All four regions – the
South, the Northeast, the West, and the Midwest – saw an increase in
distressed saturation rate in Q1 from the fourth quarter of 2014, Read more.
Sweet Sound of Normal Real Estate Rhythms
Songs That Sum Up Housing Trends Right Now: Real estate’s big 
generational
mashup. The two biggest generations in U.S. history, baby boomers and
millennials, will determine what happens in housing this year—and for
the foreseeable future. Last year, millennials were already the largest share of buyers, and they are not yet buying at normal levels for 25- to 34-year-olds.
Add in the boomer share, and you’re up to almost two-thirds of
purchases. Let’s hope the generational mashup in real estate works out as
well. Listen to Kelly Clarkson’s upbeat “Heartbeat Song” and other signers illustrate real estate returning.
Is This the Calm Before the Storm?
Mortgage Rates Unchanged:Home buyers enjoyed another week of low rates 
as
we headed deeper into the spring home-buying season. Freddie Mac
reported interest rates largely unchanged from last week, even as
pending home sales increased. So, while you can, please enjoy a 30-year fixed-rate mortgage at about 3.70% for the week ending April 2. Last week, rates averaged 3.69%, down from 4.41% a year ago this time. Buyers are out shopping, yet they still have very few homes to choose from in most markets. How to Win or Lose a Bidding War:
Effective Date Aug 1 ‘Know Before You Owe’
CFPB Launches Tool Kit : The Consumer Financial Protection Bureau debuted 
a new tool kit this week that
sets out to turn home buyers into smarter mortgage shoppers. The tool
kit is part of the CFPB’s “Know Before You Owe” mortgage initiative and
allows home buyers to use the new Loan Estimate and Closing Disclosure forms, which lenders will be required to provide starting Aug. 1. The CFPB is requiring creditors to provide the tool kit to mortgage applicants when they apply for a mortgage. Did You Know: Credit Unions and Real Estate: A Perfect Pairing?
West: Pending Home Sales Rose
Existing-Home Sales for March: Pending home sales in February surged to 
the highest level since June 2013, led by significant gains in contract signings in the Midwest and West, a forward-looking indicator based on contract signings. Total existing-home sales, rose 1.2 percent to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth consecutive month. “With all indications pointing to a rate increase from the Federal Reserve this year – perhaps as early as this summer – affordability
concerns could heighten as home prices and rents both continue to rise,” Read more.
Don't Ignore 7.3 Million Potential Boomerang Buyers
The housing market is ignoring the largest pool of prospects: Boomerang buyers. Boomerang buyers are former home owners who lost their home to a 
foreclosure or short sale. After sitting out of the market for several years to rebuild their credit, these buyers may be inching back to the market looking for a second chance at home ownership. There are an estimated 7.3 million potential boomerang buyers, Blomquist says. "If we magically had 7.3 million more home owners, the
home owner rate would be back to historic norms," he notes. Boomerang buyers mostly consist of Generation Xers and Baby Boomers. "They are the ones who are likely to come back and become home owners again than the millennials," read more.
