National Mortgage News, Aug. 7, 2018–Paul Centopani (subscription)Mortgage credit accessibility kept climbing in July, mostly thanks to an expansion of jumbo loan products offered, pushing the jumbo index to its historical high point, according to the Mortgage Bankers Association.
Category: Top National News
Fannie, Freddie Could Need $78B in Crisis: FHFA
American Banker, Aug. 7, 2018–Hannah Long (subscription)Mortgage giants Fannie Mae and Freddie Mac could require as much as $78 billion in bailout money in the event of a serious financial crisis, according to stress test results released Tuesday by the Federal Housing Finance Agency.
Banks Maintain Mortgage Credit Standards
Mortgage Daily, Aug. 7, 2018In its July 2018 Senior Loan Officer Opinion Survey on Bank Lending Practices, the Federal Reserve Board reported that 23 percent of large banks eased standards on loans considered eligible for the government-sponsored enterprises.
Tiny Offering of GSE MSRs
Mortgage Daily, Aug. 7, 2018Bids are being sought for mortgage-servicing rights on 588 single-family loans that had an aggregate unpaid principal balance of $149 billion as of June 30.
What FHFA Scandals Mean for Agency’s Future, GSE Reform
American Banker, Aug. 7, 2018–Hannah Long (subscription)The Federal Housing Finance Agency has faced a barrage of negative headlines lately, from a sexual harassment probe of Director Mel Watt to a court ruling declaring the agency’s leadership structure unconstitutional.
Zillow Plunges After Revenue Forecast Misses, Analyst’s Cut
Bloomberg, Aug. 7, 2018–Patrick ClarkZillow Group Inc. tumbled after the real estate listings company’s revenue forecast missed even the lowest analyst estimate and its second-quarter results raised fresh questions about the company’s foray into buying and selling homes.
Zillow Acquiring $1 Billion Mortgage Originator
Mortgage Daily, Aug. 6, 2018On Monday, the Seattle-based organization announced that it has reached a definitive agreement to acquire Mortgage Lenders of America LLC.
Treasury Urges Mortgage Sector to Embrace Digital Tech
National Mortgage News, Aug. 6. 2018–Hannah Long (subscription)”My sense right now is that the industry is really at a tipping point in terms of adoption of digital mortgage or e-mortgage technologies,” said Michael Fratantoni, chief economist for the Mortgage Bankers Association. “The technology is there, the industry desire is there, but there are some regulatory hurdles and the Treasury report identified some of them.”
Mortgage Startup Blend to Offer MetLife Policies With New Unit
Bloomberg, Aug. 6, 2018–Julie Verhage, Katherine ChiglinskyThe San Francisco-based company is launching Blend Insurance Agency. Much like its mortgage platform, the firm will leverage partnerships with large insurers to scale its business by pairing the offerings. One of those initial partners will be MetLife Inc., a U.S. insurer with more than $700 billion in assets.
New FDIC Leader Joins Push to Re-Evaluate Banking Rulebook
Wall Street Journal, Aug. 6, 2017–Ryan Tracy (subscription)Jelena McWilliams signals openness to revamping capital-requirement rules on investing in low-income areas.