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Mountain of Mortgage Paperwork Bogs Down Borrowers
Washington Post Writers Group, Mar. 1, 2017--Kenneth R. HarneyDavid Stevens, president and CEO of the Mortgage Bankers Association, said the biggest problem with the system today is that some of the regulations for lenders amount to an overcorrection and are far too inflexible, especially for highly qualified applicants with large down payments and stellar credit scores.
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U.S. Housing Market Recap: Sales Rise in January as Economic Recovery Deepens
GoRion, Feb. 28, 2017--Sam BourgiThe housing market was off to a fast start in 2017, as the economy strengthened and sales of both existing and new homes rose.
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Mortgage Applications Surge 5.8 Percent as Rates Briefly Dip
CNBC, Mar. 1, 2017--Diana OlickStill, volume came in 28 percent lower than the same week a year ago. The Mortgage Bankers Association's seasonally adjusted report includes an adjustment for the Presidents Day holiday.
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CFPB Mortgage Complaints Hold Steady
DSNews, Mar. 1, 2017--Aly J. YaleThe volume of mortgage-related complaints received by the Consumer Financial Protection Bureau is holding steady, according to the agency's Monthly Complaint Report.
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Fed’s Beige Book: Economy Advances, Labor Market Tightens
Wall Street Journal, Mar. 1, 2017--Jeffrey Sparshott (subscription)The U.S. economy continued its slow, steady advance and businesses remained broadly optimistic early in 2017, despite some difficulty finding workers and political uncertainty coming from Washington, the Federal Reserve said.
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The Highest Property Taxes Are Found In…
National Mortgage Professional, Mar. 1, 2017--Phil HallIn a new data analysis released by WalletHub, Hawaii was identified as the state with the lowest real-estate tax: a 0.27 percent rate, with $487 in annual taxes on a $179,000 home.
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Vote on GOP Dodd-Frank Reform Bill Likely Delayed Until Summer
National Mortgage News, Mar. 1, 2017--Ian McKendry (subscription)A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally anticipated due to limited floor time and other legislative priorities such as health care reform likely to take precedent.
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Guaranteed Rate to Hire Nearly 300 More Employees in 2017
HousingWire, Mar. 1, 2017--Brena SwansonChicago-based Guaranteed Rate is slated to significantly expand its mortgage operations this year as it looks to create approximately 280 new positions for its Liftoff loan origination training program.
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Agency MBS Issuance Sinks to 12-Month Low
Mortgage Daily, Mar. 1, 2017Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae was $94.316 billion in February. That turned out to be the slowest month for securitizations of agency home loans since February 2016.
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No Change to Mortgage Interest Deduction in Trump Tax Plan: Mnuchin
Reuters, Mar. 1, 2017--Eric BeechU.S. Treasury Secretary Steven Mnuchin said on Wednesday the Trump administration's tax reform plan will not change the deductibility of mortgage interest and charitable contributions.
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What to Do When a Home-Equity Line of Credit Comes Due
Wall Street Journal, Mar. 1, 2017--Robyn A. Friedman (subscription)Many homeowners took out home-equity lines of credit during the housing boom, when property values soared. Now the typical 10-year term on these loans is expiring, and many people will be surprised that their monthly payments are about to go up-some, substantially.
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Why Lessons from Wingspan’s Demise Still Matter Today
National Mortgage News, Mar. 1, 2017--Bonnie Sinnock (subscription)It's been almost two years since Dallas-based Wingspan declared bankruptcy and the case has yet to be fully resolved. Now, with interest rates and home prices on the rise, the market is shifting yet again. What could be fixed at Wingspan--and what couldn't--remain good object lessons about the opportunities and risks that surface when economic cycles turn.
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Caliber Home Loans Acquiring Banc Home Loans
HousingWire, Mar. 1, 2017--Ben LaneFor the second time in less than a year, Caliber Home Loans, an Irving, Texas-based residential mortgage origination and servicing company, is acquiring a regional residential mortgage lender that focuses on the Western part of the country.
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Senate Set to Vote on Confirmation of Ben Carson as HUD Secretary
HousingWire, Mar. 1, 2017--Brena SwansonThe Senate floor is set to vote on the nomination of Ben Carson as HUD secretary on Thursday, following a Senate vote (62-37) Wednesday morning.
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MBA Compliance Essentials RESPA Consent Orders Webinar Today
MBA Education and the MBA Compliance Essentials program present a new webinar, Update and Overview of Recent RESPA Consent Orders, today, Mar. 2 from 2:00-3:30 p.m. ET.
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