Category: Top National News

MarketWatch, July 9, 2018–Andrea RiquierAs the financial crisis gathered steam, Americans fled adjustable-rate mortgages. The share of all mortgage applications with floating rates sank below 1% in late 2008. A decade later, their share still remains low: 6% in early June, according to the Mortgage Bankers Association, versus an average of about 20% in the ten years before 2008.

National Mortgage News, July 10, 2018–Brad Finkelstein (subscription)A Fannie Mae test to handle the private mortgage insurance process for lenders may raise concerns about charter creep, but the effort reflects its mandate to explore new credit-risk transfer alternatives.

American Banker, July 9, 2018–Kate Berry, Hannah Long (subscription)A Supreme Court that moves even further to the right with the appointment of Judge Brett Kavanaugh could make the policy horizon even brighter for the financial services industry.

CNBC, July 10, 2018–Scott CohnHome prices in Washington state rose nearly 4 percent in the first quarter–the most in the nation–and more than 13 percent from one year ago. But experts say the housing market is vulnerable to rising interest rates, job losses due to tariffs and local policies against development.

GlobeSt.com, July 10, 2018–Kelsi Maree BorlandInterest rates are anticipated to rise several more times this year, which has left the many wondering how the increases will affect investment activity.

Bloomberg, July 10,2018–Peter RobisonAn Arkansas bank has become one of America’s top construction lenders. Does it know something the giants don’t?

Mortgage Daily, July 10, 2018Versus Mortgage Capital, a nonprime correspondent investor, raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don’t meet Qualified Mortgage requirements.

National Mortgage Professional, July 10, 2018–Phil HallThe Mortgage Bankers Association’s Mortgage Credit Availability Index inched up 0.2 percent to 181.0 in June. Three of the four indexes saw increases for the month.

HousingWire, July 10, 2018–Ben LaneFHA Commissioner Brian Montgomery said Tuesday that while it’s probably “too early to commit to anything,” it’s unlikely that the FHA will reduce its mortgage insurance premiums this year, citing the most recent FHA actuarial report.

National Mortgage News, July 10, 2018–Bonnie Sinnock (subscription)Optimal Blue is expanding its reach in the secondary mortgage market by acquiring Resitrader, a whole-loan trading vehicle that has integrations with Fannie Mae and Freddie Mac.