National Mortgage News, May 25, 2018–Kate Berry (subscription)On the one hand, acting Consumer Financial Protection Bureau Mick Mulvaney’s comments that he wants to ease Home Mortgage Disclosure Act requirements imposed by his predecessor is welcome news. But on the other, more data helps lenders know how they stack up to the competition, and lenders may end up collecting the data anyway.
Category: Top National News
Freddie Mac: Homebuyers are Resilent Despite Housing Market Challenges
HousingWire, May 25, 2018–Alcynna LloydAlthough homebuyers struggle with affordability and low supply, a healthy economy and strong consumer confidence are expected to lead to an increase of sales, according to Freddie Mac’s newly released monthly outlook for May.
Mortgage Servicing, Staffing Grow at TMS
Mortgage Daily, May 25, 2018Not only did the mortgage servicing portfolio grow at The Money Source Inc., but the number of people working for the home lender increased.
Mortgage Fraud Scheme Uses Fake Employers
Mortgage Daily, May 25, 2018Fannie Mae warned of a mortgage scheme in which bogus businesses are being listed as the employer of prospective borrowers on home loan applications.
MISMO Wants Input on Key Component of Digital Home Loans
Mortgage Professional America, May 29, 2018–Steve RandallMISMO is inviting mortgage industry participants to join the group to develop a decision model for eNotes, which is created when all mortgage documents including the promissory are electronically signed.
Mick Mulvaney Is Having a Blast Running the Agency He Detests
Bloomberg, May 25, 2018–Devin Leonard, Elizabeth Dexheimer (subscription)The ultimate goal, Mulvaney says, is to move the Consumer Financial Protection Bureau beyond the realm of partisan bickering and turn it into what he calls one of the “gold-standard” regulators, like the U.S. Securities and Exchange Commission. To do that, he says he’ll have to disassociate the CFPB from its origins.
Odd Parcels: Taxes, Storage and More
UExpress, May 25, 2018–Lew SichelmanHomeowners pay an average of nearly $3,400 in property taxes every year, according to new research. But if you live in the New York City area, you could be paying three times that.
Big Metropolitan Cities Are Seeing High Levels of Residential Segregation, Study Finds
CNBC, May 24, 2018–Javier DavidSome of the largest housing markets in the United States also happen to be the most racially segregated, according to a study released Thursday.
After a Banner 2017, Housing Stocks Pace for Worst Year Since the Financial Crisis
CNBC, May 24, 2018–Rebecca UngarinoHousing stocks, among the top performers of 2017, are biting the dust. Homebuilders as a group have sunk more than 12 percent this year.
Trump Signs Dodd-Frank Rollback
The Hill, May 24, 2018–Sylvan LanePresident Trump on Thursday signed a bipartisan bill to loosen key portions of the Dodd-Frank Act of 2010, cementing the first major changes to President Obama’s landmark banking laws.