Reuters, Feb. 28, 2019–Dena AubinA federal judge in San Francisco has ruled in favor of housing finance giant Fannie Mae in a 2017 lawsuit accusing it of falsely reporting that thousands of consumers’ homes had been foreclosed on.
Category: Top National News
Strong Home Buying Season Boosts Mortgage Defect Risk: First American
National Mortgage News, Feb. 28, 2019–Brad Finkelstein (subscription)A strong spring home purchase season is likely to further increase mortgage loan application defect risk, which already spiked in the past two months, according to First American.
Patient Buyer Gets $35,000 Discount Waiting Out Overconfident Seller
Orange County Register, Feb. 28, 2019–Jeff LazersonEven in a seller’s market, smart buyers who have patience and do their homework can get good deals.
The Battle for the Broker
HousingWire, Mar. 1, 2019–Jacob GaffneyAt the start of the new year, Black Diamond Mortgage Owner David Boye received an email from an account executive representing one of the nation’s largest lenders asking for a second chance.
MBA Servicing: Mortgage Borrowers are Now Your Biggest Asset
HousingWire, Feb. 28, 2019–Sarah WheelerDuring the MBA’s National Mortgage Servicing conference this week in Orlando, it was evident that in the current environment servicers are using the relative calm to take stock of their operations, train staff, shore up compliance and invest in technology.
Most Millennials Express Buyer’s Remorse on Home Purchase
National Mortgage Professional, Feb. 28, 2019–Phil HallYou can lead a Millennial into homeownership but you can’t make that young person happy, according to data from a new study released by Bankrate.com.
GSE Reform Proposals have Small Lenders on Edge
National Mortgage News, Feb. 28, 2019–Hannah Lang (subscription)As lawmakers shop plans to overhaul the housing finance system, small lenders are still skeptical that any of the various legislative proposals will work for them.
Industry Sees Benefits From CFPB Sandbox
Inside Mortgage Finance, Feb. 27, 2019 (subscription)The mortgage industry would likely benefit from the Consumer Financial Protection Bureau’s proposed new policy on its no-action letter and sandbox program,analysts said. (MBA mention)
Weekly Mortgage Applications Jump 5.3% as Lower Rates Seem Here to Stay
CNBC, Feb. 27, 2019–Diana OlickMortgage application volume increased 5.3 percent last week from the previous week and was 0.4 percent higher than a year ago, the Mortgage Bankers Association said. Low rates are driving refinance and purchase volume.
HomeStreet has Potential Buyer for its Mortgage Operations
American Banker, Feb. 27, 2019–Paul Davis (subscription)HomeStreet in Seattle has agreed to sell its mortgage business to Homebridge Financial Services in Iselin, N.J.