Category: Top National News

HousingWire, Jan. 23, 2019–Alcynna LloydHome prices rose in November, inching forward 0.4% from October, according to the latest monthly House Price Index from the Federal Housing Finance Agency.

Fox Business, Jan. 23, 2019–Brittany De LeaHomebuyers are increasingly opting for nontraditional mortgages – Opens a New Window. which helped precipitate the housing crisis about one decade ago – potentially foreshadowing trouble as high prices continue to weigh on housing affordability. (MBA mention)

Tech Crunch, Jan. 23, 2019–Zack WhittakerA trove of more than 24 million financial and banking documents, representing tens of thousands of loans and mortgages from some of the biggest banks in the U.S., has been found online after a server security lapse. The leak was traced back to Ascension, a data and analytics company for the financial industry, based in Fort Worth, Texas.

National Mortgage News, Jan. 23, 2019–Hannah Lang (free article)The 21 new members of the House Financial Services Committee are poised to tackle housing alongside Chair Maxine Waters, D-Calif., and Rep. Patrick McHenry, R-N.C., and some bring notable qualifications to the table, with extensive backgrounds in consumer protection or experience authoring legislation to benefit homeowners.

The Mortgage Leader, Jan. 22, 2019Blend has hired Tim Mayopoulos, former CEO of Fannie Mae, as president of the company. Mayopoulos will lead Blend’s go to market and corporate support functions, take a seat on the board and report to Nima Ghamsari, CEO of Blend.

HousingWire, Jan. 22, 2019–Jacob GaffneyFlagstar reported 2018 net income was $187 million, as compared to full year 2017 net income of $63 million, nearly triple the profit after taxes and other deductions are taken out. The bank also reported fourth-quarter net income of $54 million, after reporting a loss in the same period a year earlier.

National Mortgage Professional, Jan. 22, 2019–Phil HallIncreased competition, margin compression and rising rates are the greatest challenges facing mortgage professionals, according to the newly published “The State of the Originations Industry” from Altisource Portfolio Solutions.

National Mortgage News, Jan. 22, 2019–Bonnie Sinnock (subscription)In a slow mortgage market, construction loans are considered the most likely source of growth for lenders, according to Altisource’s latest annual originations survey.

Chicago Tribune, Jan. 22, 2019–Brenda RichardsonThe process has not met expectations that using algorithms to analyze a consumer’s financial picture would make a digital mortgage colorblind. A new study conducted by researchers at the University of California at Berkeley, raises questions about statistical discrimination and pricing disparities.

American Banker, Jan. 22, 2019–Hilary Burns (subscription)Smaller institutions are booking loans at a faster clip than bigger lenders, raising concerns that they are relaxing standards in order to win business.