Ginnie Mae adds cybersecurity incident notification requirement

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1. Ginnie Mae adds cybersecurity incident notification requirement

On Monday, Ginnie Mae introduced new cybersecurity incident reporting requirements.

Effective immediately, issuers must notify Ginnie Mae within 48 hours of detection that a Cyber Incident may have occurred. The notification must be sent to Ginnie Mae via email to: [email protected]​ and contain the following information:

1. ​Date/time of Cyber Incident,

2. A summary of the incident based on what is known at the time of notification,

3. Designated point(s) of contact who will be responsible for coordinating any follow-up activities on behalf of the notifying party.

Read the full memo here.

2. Housing inventory just hit a high not seen since 2020

The spring housing market is shaping up to be a boon for homebuyers looking for more affordable properties. A new report by Realtor.com® has found that the number of homes actively for sale in February was 14.8% higher than this same month last year. That’s the fourth straight month of more homes on the market.

“This is the most inventory that we’ve seen year to date since 2020. The spring housing market could shape up to provide home shoppers with a more plentiful supply of less expensive homes than last year,” says Realtor.com economic data manager Sabrina Speianu in her analysis. Although inventory is still not as plentiful as in the pre-pandemic days, “home shoppers will have more choice, and in particular more choice of lower-priced homes.”

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3. Catch up quick

🏠 Texas’s big 3 housing markets built 300% more homes than California’s—despite having a far smaller population. (Fortune)

💸 Americans now pay as much interest on other debt as on mortgages. (Bloomberg)

🤝 36% of homebuyers and sellers don’t know they can negotiate real estate agent fees. Here’s how to do it. (CNBC)

🔎 Startup lets prospective homebuyers search for assumable mortgages. (SAEN)

4. New forecasts for home prices in 2024

7 of the leading home price forecasters have upwardly revised their predictions for this year. On average, they now expect home prices to rise by 3.27%. Here’s each firm’s prediction for home price growth this year:

5. Black millennials are half as likely to own a home as white millennials

A recent analysis by Redfin found stark racial disparities in homeownership rates, particularly among millennials and Gen Zers.

According to the analysis, just one-third (33%) of Black millennials own their home, compared to two-thirds (65%) of white millennials, marking the largest gap among any generation.

You’re all caught up. See you on Friday!

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