DS News, Sept. 19, 2018Marcia Davies, COO of the Mortgage Bankers Association, received the Laurie A. Maggiano Legacy Award, which was named in honor of the late industry icon whose distinguished career left an indelible impact on housing.
Category: Top National News
Mortgage Fraud by Wannabe Home Buyers is on the Rise. And You Can Blame the Internet For It.
Washington Post, Sept. 19, 2018–Kenneth HarneyPrices are up, interest rates are rising and it’s tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.
Weekly Mortgage Applications Rise 1.6% as Interest Rates Hit a 7-Year High
CNBC, Sept. 19, 2018–Diana OlickTotal mortgage application volume increased 1.6 percent last week compared with the previous week, the Mortgage Bankers Association reported. Rising interest rates for home loans may be what’s getting borrowers back to their brokers.
Home Equity Seen as Go-To Source to Cover Household Bills
National Mortgage Professional, Sept. 19, 2018–Phil HallTapping into home equity to keep pace with regular household expenses is being viewed as an acceptable strategy by a growing number of homeowners, according to a new study from Bankrate.com.
Are Wells Fargo, PNC Probes a Setback for Affordable Housing?
National Mortgage News, Sept. 19, 2018–Andy Peters (subscription)President Trump and his secretary for Housing and Urban Development, Ben Carson, are not big fans of government programs that support affordable housing, so it can’t help housing advocates’ cause when a high-profile program like the Low-Income Housing Tax Credit is seen as potentially ripe for manipulation.
Student Debt Crushes Homeownership Dreams
HousingWire, Sept. 19, 2018–Jessica GuerinStudent loan debt has racked up a collective $1.5 trillion bill for 44 million Americans, and it’s crushing homeownership dreams, according to a recent survey by NeighborWorks America.
Data Breach Bill is Really a Fight about Federal Preemption
American Banker, Sept. 19, 2018–Neil Haggerty (subscription)A legislative proposal to create a federal standard on how firms notify customers of a data breach is prompting new preemption concerns among consumer groups and state regulators.
David H. Stevens: National Mortgage Professional Magazine’s ‘Mortgage Professional of the Year’
National Mortgage Professional, Sept. 17, 2018–Rick GrantFormer MBA President and CEO David H. Stevens, CMB, who retires this month, is honored for his leadership in a career spanning nearly four decades.
CFPB is Still in the Fair Lending Business, Mulvaney Says
National Mortgage News, Sept. 18, 2018–Kate Berry (subscription)Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Monday that he wanted to set the record straight by reiterating that the agency is “still very much in the fair lending business.”
Digital Mortgages? How About Digital Home Buying?
National Mortgage News, Sept. 18, 2018At Digital Mortgage 2018, Bill Emerson, the vice chairman of Quicken Loans and its parent company Rock Holdings, outlined a vision of dramatic digital disintermediation.