Category: Top National News

New York Times, July 15, 2018–Matthew GoldsteinThe foreclosure machine that ground to a halt in Puerto Rico after the devastation caused by Hurricane Maria in September is slowly cranking up again. Island residents who fell behind on their payments are facing creditors ranging from Wall Street to the federal government.

Mortgage Daily, July 13, 2018During the week ended July 13, the Mortgage Daily U.S. Mortgage Market Index jumped 37 percent from the preceding seven-day period.

Des Moines Register, July 13, 2018–Kevin HardyEric Scharnhorst, author of the Mortgage Bankers Association report, says an oversupply of parking spaces means city leaders have the chance to rethink the uses for many dedicated parking areas, which are often in coveted parts of town.

Wall Street Journal, July 16, 2018–Lalita Clozel (subscription)On Monday, two trade groups representing some of the largest banks, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., will join forces to seek regulatory relief for an industry that remains tainted by the 2008 crash and more recent sales-practice scandals at Wells Fargo & Co.

Wall Street Journal, July 13, 2018–Ruth Simon, Richard Rubin (subscription)A new Marriott hotel in the Phoenix area might seem a world apart from an affordable-housing complex in the Watts neighborhood of Los Angeles, but both are poised to benefit from the new “opportunity zone” program created in last year’s federal tax overhaul.

Washington Post, July 12, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 4.53 percent with an average 0.4 point. It was its first increase in three weeks. (MBA mention)

CNBC, July 12, 2018–Diana OlickThe supply of homes for sale in the second quarter–the all-important spring market–rose at three times the rate of last year. Historically, prices lag sales by a few months, and sales have been slowing this year in most major markets.

Scotsman Guide, July 12, 2018–Victor WhitmanMortgage applications for new-home purchases were down in June, according to the Mortgage Bankers Association.

National Mortgage News, July 12, 2018–Brad Finkelstein (subscription)Fannie Mae and Freddie Mac may be forced to take draws from the U.S. Treasury again, this time due to an accounting rules change for loan-loss reserves.

HousingWire, July 12, 2018–Kelsey RamirezThe Senate Banking Committee held a hearing Thursday morning in which senators on both sides of the aisle expressed their concern over the current credit reporting system.