Category: Top National News

Washington Post, Oct. 18, 2018–Kathy OrtonAfter the biggest one-week spike in two years, fixed mortgage rates retreated this week. (MBA mention)

Scotsman Guide, Oct. 18, 2018–Victor WhitmanChallenging times for mortgage companies are expected to continue next year, but the news is not all bad. The outlook for home-purchase loans, now the industry’s mainline source of business, looks solid in 2019 and beyond, Mortgage Bankers Association analysts said this week at the annual convention in Washington, D.C.

Daily Breeze (Calif.), Oct. 18, 2018–Jeff LazersonThe Federal Housing Finance Agency, which is both the conservator and the regulator for Fannie Mae and Freddie Mac, will likely increase the maximum loan limits for Fannie and Freddie according to Andy Leventis, FHFA’s deputy chief economist. (MBA mention)

American Banker, Oct. 18, 2018–Hannah Lang (subscription)Donald Layton has just under a year before he retires as CEO of Freddie Mac after more than 40 years in the financial services industry, but the coming months are shaping up to be some of the most formative at the company since Layton joined in 2012.

DS News, Oct. 18, 2018–Radhika OjhaShort-term liquidity is a key factor in driving mortgage default, according to a research by the JPMorgan Chase Institute. The research, titled, Falling Behind: Bank Data on the Role of Income and Savings in Mortgage Default, measured the impact of a mortgage payment and principal reduction on default and consumption.

Wall Street Journal, Oct. 18, 2018–Yuka Hayashi (subscription)The Consumer Financial Protection Bureau has asked an independent government watchdog to investigate past racial remarks made by Eric Blankenstein, its top enforcement official. CFPB acting Director Mick Mulvaney has sent an investigation request to the inspector general’s office for the Federal Reserve and CFPB.

Mortgage Daily, Oct. 18, 2018The latest housing forecast from Fannie Mae has this year’s mortgage originations coming in $35 billion less than previously expected, while next year’s outlook was cut by $61 billion.

Mortgage Daily, Oct. 18, 2018–Sam GarciaEllie Mae Inc.’s Origination Insight Report indicated average 30-year note rates on single-family loans closed last month were 4.91 percent.

HousingWire, Oct. 18, 2018–Ben LaneNathan (Nat) Hardwick, the former chief executive officer of LandCastle Title and former managing partner of Morris Hardwick Schneider, was found guilty late last week of embezzling more than $25 million from his former companies, bringing an end to a massive scandal that destroyed a prominent real estate firm and left hundreds of people without jobs.

CNBC, Oct. 17, 2018–Diana OlickTotal mortgage application volume fell 7.1 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report. There was no adjustment made for the holiday. Volume was 15 percent lower compared with the same week one year ago.