IRVINE, Calif., Feb. 12, 2013 /PRNewswire/ -- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its February MarketPulse report. In this report CoreLogic Chief Economist Mark Fleming discusses the current state of the economy and housing markets as well as challenges facing the mortgage market in 2013. The potential influence of the Qualified Mortgage (QM) and Qualified Residential Mortgage (QRM) rules is analyzed.
Additional key findings in the February MarketPulse report include:
- Consumer spending levels will likely be impacted by the reduction in disposable income due to the expiration of the payroll tax holiday.
- Purchase demand for homes may be negatively impacted by uncertainty created by ongoing debt ceiling debates.
- Strong mortgage origination volumes in 2012 were dominated by refinance transactions; in 2013 and 2014 refinance transactions as a share of the total mortgage origination market is expected to decrease.
- Only about half of the total mortgage originations today would qualify for QM coverage if there was no GSE exemption.
- The states most impacted by QM are Nevada and Hawaii.
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