The Lede
Top National News
Meet Two Professionals on the Forefront of Pushing the Industry Forward
Mortgage Professional America, Nov. 7, 2017--Justin da RosaEarlier this year, the Mortgage Bankers Association launched mPact - a network for young professionals in the real estate industry. Ashley Gunn and Jordan Bucher of MBA discuss the program.
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MBA: Mortgage Credit Availability Decreased in October
Mortgage Orb, Nov. 7, 2017--Patrick BarnardMortgage credit availability decreased 0.2% in October compared with September and fell to a score of 181.0 on the Mortgage Bankers Association's Mortgage Credit Availability Index.
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Millennial Home Buyers Send a Chill Through Rental Markets
Wall Street Journal, Nov. 7, 2017--Peter Grant, Laura KusistoRising homeownership is adding to the jitters in the residential rental market, which has slumped recently after a long stretch near the top of the commercial real estate industry.
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Optimism About Housing Market Dampened by End of Buying Season
National Mortgage News, Nov. 7, 2017--Brad Finkelstein (subscription)With the end of the summer home buying season, consumers were less optimistic that it was a good time to purchase or sell a home in October.
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FICO: How to Serve the Credit-Invisible Even if the GSEs Don’t Change Credit-Scoring Models
HousingWire, Nov. 7, 2017--Brena SwansonWhile changes to the government-sponsored enterprises' credit scoring models, at the earliest, are expected to happen in the second half of 2019, this leaves the credit invisible market in a lurch when it comes to buying a home until then.
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Tax Plan Seen Boosting U.S. Growth a Bit While Denting Housing
Bloomberg, Nov. 7, 2017--Steve Matthews, Catarina SaraivaPresident Donald Trump's planned tax overhaul is likely to boost U.S. economic growth by about a quarter percentage point in 2018, yet it will also dent demand for housing and fail to lower the chances of a recession, according to a Bloomberg News survey.
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Capital One Closing Mortgage Business
Dallas Morning News, Nov. 7, 2017--Melissa RepkoBanking and financial services company Capital One Financial Corp. announced Tuesday that it will lay off about 950 people in Plano, Texas, as it exits the mortgage and home equity business and closes a call center.
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Mortgage CFOs, CIOs and Presidents Appointed
Mortgage Daily, Nov. 7, 2017--Sam GarciaMike Roemer has been named chief compliance officer of Wells Fargo & Co., a statement last month said. He held the same position at is prior job with Barclays.
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PRMI Lending Slows as Servicing Slips
Mortgage Daily, Nov. 7, 2017Residential loan production slowed at Primary Residential Mortgage Inc., with the servicing portfolio trimmed and payroll reduced.
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Homebuilders Press to Retain Mortgage Tax Credit
Scotsman Guide, Nov. 7 2017--Victor WhitmanNAHB's housing tax-credit idea has gained support from the nation's largest mortgage trade group, the Mortgage Bankers Association. MBA President David Stevens referenced it in a letter Monday to House Ways and Means Committee leaders.
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MBA: Mortgage Interest Deduction Changes Will Spur ‘Negative Impact’ on Local Housing Makets
HousingWire, Nov. 7, 2017--Brena SwansonAs the future of tax reform remains a hot-button issue, the Mortgage Bankers Association continues to stress the importance of the mortgage interest tax deduction to Congress.
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Republican Tax Plan Would Slam California Housing Market
Wall Street Journal, Nov. 8, 2017--Laura Kusisto (subscription)California's biggest housing markets figure to be among the losers if a Republican-sponsored tax overhaul becomes law, according to two analyses of local market data.
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FHA Losing Customers Rapidly as Premiums Spur Refinancing
National Mortgage News, Nov. 7, 2017--Brian Collins (subscription)The Federal Housing Administration's financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.
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Zillow Just Had Its Best Quarter Ever
HousingWire, Nov. 7, 2017--Ben LaneIn the third quarter, Zillow's revenue rose 25% to a record $281.8 million from $224.6 million in the third quarter of 2016. The news as good all over the board for Zillow, as each of its segment's saw revenue climb in the third quarter.
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Save on Risk Management Consultations, Employee Screening Packages through MBA Member Advantage Program
Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program, MBA Member Advantage.
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