Category: Top National News

HousingWire, Aug. 9, 2018–Ben LaneThe company said that its direct buying program saw “outstanding” growth in the second quarter, but, as of now, the program is just a drop in the overall housing market bucket.

National Real Estate Investor, Aug. 9, 2018–Mary Diduch As the unemployment rate remains extremely low, commercial real estate companies are eager to add experienced employees–if only they can find them.

CNBC, Aug. 8, 2018–Lisa RizzoloRising home prices hit the mortgage industry hard last week. Total mortgage application volume fell 3 percent from the previous week, and 17 percent from a year ago, according to the Mortgage Bankers Association.

NerdWallet, Aug. 8, 2018–Hal M. BundrickMBA Chief Economist Mike Fratantoni says low-downpayment loans are having a positive impact with first-time home buyers, but notes they are more expensive than FHA loans, particularly for borrowers with less-than-perfect credit.

Washington Post, Aug. 8, 2018–Kenneth R. HarneyFICO has created a new prescriptive “Score Planner” tool that the company says will allow you to improve your score within a set time period by following a customized, detailed set of steps. Although it’s only in the pilot stage with one of the three national credit bureaus, Experian, FICO officials said last week that in the months ahead it should become widely available through participating banks, mortgage companies, brokers and others.

Wall Street Journal, Aug. 8, 2018–Laura Kusisto (subscription)Western states experienced the sharpest decline for existing-home sales in the second quarter, a sign that rising prices, higher mortgage rates and, to a limited extent, the new tax law are weighing on pricier markets.

National Mortgage News, Aug. 8, 2018–Bonnie Sinnock (subscription)Quicken Loans subsidiary One Reverse Mortgage is rolling out a private-label alternative to the Federal Housing Administration’s Home Equity Conversion Mortgage that offers higher loan limits and more flexible underwriting terms.

Reuters, Aug. 8, 2018–Pete SchroederThe Trump administration moved on Wednesday to drastically shrink the Office of Financial Research, a government agency tasked with identifying looming financial risks, notifying around 40 staff members they would be laid off.

American Banker, Aug. 8, 2018–Neil Haggerty (subscription)The hearing is planned for “no later than” Sept. 27 and Fannie Mae Chief Executive Timothy Mayopoulus and FHFA Director Mel Watt “will be invited to testify,” according to a press release from Committee Chairman Jeb Hensarling, R-Texas, and Oversight and Investigations Subcommittee Chairman Ann Wagner, R-Mo.

Mortgage Daily, Aug. 8, 2018Mortgage loan originators in all states can now apply for a license in one or more states and only be responsible for passing a single national test.