Category: Top National News

Mortgage Daily, June 26, 2018The nation’s largest mortgage insurance company, Arch MI, will not automatically align its own guidelines with guidelines for a new manufactured housing program from Fannie Mae.

Orlando Sentinel, June 27, 2018–Bill ZimmermanA short supply of affordable homes and recent increases in home values have some owners looking to borrow against the equity they have so they can renovate rather than move, although the Mortgage Bankers Association reports the refinance share of mortgages continues to drop.

Wall Street Journal, June 27, 2018–Laura Kusisto (subscription)The U.S. apartment market suffered its worst spring since 2010, near the depths of the housing crisis, as a flood of new supply and weakening demand resulted in rising vacancy rates and little or no rent increases in many major cities.

Reuters, June 26, 2018–Lucia MutikaniU.S consumer confidence ebbed in June, with households a bit pessimistic about their short-term income prospects, suggesting that an apparent acceleration in economic growth in the second quarter was unlikely to be sustained.

The Mortgage Reports, June 25, 2018–Amy J. YaleAccording to new data from CoreLogic, the typical mortgage payment will likely jump 9.7 percent by March 2019, thanks to rising rates, inflation and higher home prices.

National Mortgage News, June 25, 2018–Elina Tarkazikis (subscription)Mortgage debt outstanding remains below pre-crisis levels and home equity is growing, even as overall consumer debt is on pace to surpass its previous 2008 peak by $1 trillion, according to LendingTree.

Mortgage Daily, June 25, 2018The last holdout in a swarm of lawsuits filed in 2011 against underwriters and issuers of mortgage-backed securities has been resolved by the country’s high court.

HousingWire, June 25, 2018–Jessica GuerinZillow noted in its SEC filing that it received a letter from the Consumer Financial Protection Bureau that said the agency had completed its investigation into potential RESPA violation, will not be pursuing an enforcement action, and would not be requesting further documentation on the matter.

HousingWire, June 25, 2018–Caroline BasileOn Monday, the U.S. Supreme Court declined to hear an appeal by the Royal Bank of Scotland Group and Nomura Holdings to overturn an order that requires them to pay $839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.

Mortgage Daily, June 25, 2018Genworth Mortgage Insurance is aligning its own guidelines with new government-sponsored enterprise requirements for manufactured housing transactions.