National Mortgage News, Nov. 5, 2018–Bonnie Sinnock (subscription)Although forecasts anticipate a continuing drop in overall originations, private-label residential mortgage-backed securitizations backed by newer loans are expected to keep increasing through next year, according to Bank of America.
Category: Top National News
Moody’s Homebuilding Outlook Falls from Positie to Just OK
HousingWire, Nov. 5, 2018–Alcynna LloydMoody’s Investor Service has lowered its homebuilding outlook from positive to stable, signaling macro factors and order trends are expected to impact future growth.
Reverse Mortgage Market Closes Out October with Positive Gains
HousingWire, Nov. 5, 2018–Jessica GuerinRMI President John Lunde said the numbers continue to point to a slow recovery for the HECM industry, which has seen volume nosedive this year thanks to program changes issued last October.
Single-Family Rental Market Sees an Uptick in Portfolio Sales as Institutional Owners Prune Their Holdings
National Real Estate Investor, Nov. 5, 2018–Mary DiduchSingle-family rental owners are selling off big chunks of their portfolios at the highest level in more than a decade, according to data from one research firm.
October Service Sector Growth Strong as Economy Remains Hot
CNBC, Nov. 5, 2018–Michael ScheetzU.S. services expanded in October more than anticipated as economic growth remained hot, according to a report Monday.
Nonbank Mortgage Employment Drops as Home Buying Season Winds Down
National Mortgage News, Nov. 2, 2018–Paul Centopani (free article)Hiring by nonbank mortgage lenders and brokers fell in September as the housing market prepares to pack it in for the colder months. (MBA mention)
Mortgage-Bond Carnage Shows What the Future Holds Without Fed Help
Bloomberg, Nov. 2, 2018–Christopher MaloneyThe bloodbath last month in the mortgage-bond market points to what the future may be like without Federal Reserve hand holding. Investors are now wondering if anyone will step in to stop the bleeding.
Goldman Sachs Chipping Away at $1.8B Mortgage Settlement Target
National Mortgage News, Nov. 2, 2018–Elina TarkazikisThe bank, working to fulfill mortgage settlement agreements between the U.S. Department of Justice and three states, forgave a total of $78.7 million in principal on 746 first-lien mortgages since its last update on Aug. 1, for average principal forgiveness of $105,467 per loan and total reportable credit of $79.3 million after appropriate crediting calculations and multipliers were applied.
Fannie Mae Reports Income of $4B in Third Quarter
HousingWire, Nov. 2, 2018–Alcynna LloydFannie Mae reported Friday it posted a comprehensive income of $4 billion in the third quarter, which was primarily driven by the company’s business fundamentals.
What’s Keeping Chief Risk Officers Up at Night
American Banker, Nov. 2, 2018–Kristin Broughton (subscription)The banking industry’s chief worriers have a lot to worry about these days. Whether it’s increased competition from nonbank lenders, the rise of e-commerce and its impact on traditional bank clients or the uncertainty created by the pending shift to a new benchmark lending rate, risk executives and board members at big banks see no shortage of threats to their industry.