National Mortgage News, Nov. 25, 2018–Rachel Witkowski, Kate Berry (subscription)Bank regulators have not come out with a formal plan for updating the Community Reinvestment Act, but a preliminary list of questions about the reform effort issued by the Office of the Comptroller of the Currency has produced a treasure trove of public feedback to guide their deliberations.
Category: Top National News
Odd Parcels: Alimony Tax Changes, Neighborhood Regret, More
UEXpress, Nov. 23, 2018–Lew SichelmanHomeowners are staying in their places longer than ever, according to the Census Bureau, further exacerbating the inventory shortage of houses for sale in many markets.
States with the Highest Mortgage Rates Have These Things in Common
Bankrate.com, Nov. 20, 2018–Natalie CampisiSpoiler alert: They’re not on the West Coast.
GSEs Establish Tougher Standards for Green Apartment Loans in 2019
National Real Estate Investor, Nov. 20, 2018–Bendix AndersonMultifamily borrowers will have to do a lot more in 2019 to get the lower interest rates offered by Fannie May and Freddie Mac’s popular “green” lending programs.
Commercial, Multifamily Originations Pull Back Amid Higher Rates
Mortgage Professional America, Nov. 20, 2018–Francis MonfortCommercial and multifamily originations slowed during the third quarter on year-over-year and quarter-over-quarter bases amid a pullback in lending activity across most property types, according to the Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations released by the Mortgage Bankers Association.
Feds Significantly Expand Investigation into All-Cash Real Estate Deals
HousingWire, Nov. 20, 2018–Ben LaneTitle insurance companies in 12 of the nation’s largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department’s Financial Crimes Enforcement Network.
‘I Can Be the Bank’: Individual Investors Buy Busted Mortgages
Wall Street Journal, Nov. 20, 2018–Ben Eisen, Cezary Podkul (subscription)A decade after the housing crisis, new risk takers invest in nonperforming loans–often written off by banks–and push the borrowers to start paying on them again.
First Mortgage Default Rate Holds Steady
National Mortgage Professional, Nov. 20, 2018–Phil HallThe default rate on first mortgages remained unchanged at 0.63 percent from September to October, according to data from the S&P/Experian Consumer Credit Default Indices.
Study: Minority Homebuyers Pay Higher Interest Rates
HousingWire, Nov. 20, 2018–Jessica GuerinA recent study by the University of California Berkeley revealed that lenders make between 11% and 17% more profit on purchase loans to minority borrowers.
FDIC Unveils Long-Awaited Community Bank Leverage Ratio
American Banker, Nov. 20, 2018–Rachel Witkowski (subscription)The plan would create a community bank leverage ratio for institutions with less than $10 billion of assets which smaller banks could comply with in lieu of more complicated Basel risk-based capital standards. Under the proposal, the ratio was set at 9% of tangible equity to total assets.