Category: Top National News

Mortgage Daily, July 23, 2018Freddie Mac economists slashed their estimate of industry-wide originations by more than $200 billion over the next three years.

Mortgage Daily, July 23, 2018The Foothill Ranch, California-based company’s sales and marketing practices are considered strong as a result of its effective oversight of marketing materials and technology driven marketing materials, said Moody’s Investors Service.

Wall Street Journal, July 23, 2018–Laura Kusisto, Nick Timiraos (subscription)Timothy J. Mayopoulos, a financial-services lawyer who as CEO helped lead the turnaround of Fannie from the depths of the financial crisis, will remain chief executive until the end of the year and yield the president title to David Benson, Fannie’s chief financial officer. (MBA mention)

Bloomberg, July 20, 2018–Christopher MaloneySwaps linked to higher coupon Ginnie Mae II/Fannie Mae 30-year mortgages have rallied since February when HUD started cracking down on servicers whose loans to veterans were being refinanced at above-average speeds.

National Mortgage Professional, July 20, 2018–Phil HallPotential existing home sales in June increased to a 6.12 million seasonally adjusted annualized rate, a 1.1 percent month-over-month increase, according to data from First American Financial Corp.

HousingWire, July 20, 2018–Alcynna LloydThe Rent Relief Act, introduced by Sen. Kamala Harris, D-Calif., and endorsed by Sens. Dianne Feinstein, D-Calif., Richard Blumenthal, D-Conn., and Maggie Hassan, D-N.H., aims to create a new, refundable tax credit, that “puts more money in the pockets” of families, especially at a time when rent prices are outpacing wage growth.

Bloomberg, July 20, 2018–Jeremy HillHomeowners in the U.S. are holding on to their houses longer than they have in at least 18 years, and when they do sell, they’re reaping gains that haven’t been seen since before the housing crisis.

Mortgage Daily, July 20, 2018A valuation affiliate of Quicken Loans Inc. is accusing HouseCanary of using fraud to obtain a more than $700 million verdict in an ongoing lawsuit.

National Mortgage News, July 20, 2018–Rachel Witkowski (subscription)President Trump’s signing of the regulatory relief law in May was a culmination of multiple efforts to enact changes to ease banks’ burden. But it also signaled the start of a new chapter: regulatory implementation.

Mortgage Daily, July 20, 2018Monthly new business was moderately higher in FHA’s residential business, while loan performance improved. But commercial mortgage endorsements plunged.