HousingWire, May 22, 2018–Ben LaneThe Federal Housing Administration could have an official, Senate-approved leader by the end of this week, a senior advisor at the Department of Housing and Urban Development said Tuesday at the Mortgage Bankers Association’s Commercial/Multifamily Servicing and Technology Conference.
Category: Top National News
The Long View: Why Real Estate Tech Won’t Kill the Middleman
The Real Deal New York, May 22, 2018–Konrad PutzierNot too long ago, it seemed like the real estate business was about to enter a new era. To some observers, websites like Zillow and Trulia or office equivalents 42Floors and LoopNet threatened to put brokers out of business. Fast forward a few years, and the opposite seems to be taking place: well-funded startups are currently in a quest to add more and more intermediaries to real estate deals.
MBA’s Stevens Points to Political Impact on Housing’s Future
National Mortgage Professional, May 22, 2018–Phil HallIn his final trade conference appearance as President and Chief Executive of the Mortgage Bankers Association, David H. Stevens warned that potential changes in the political landscape could bring a reshuffling of how Washington views the housing and mortgage markets.
2018 Will Test Mortgage Bankers, But Survival Will Pay Off
National Mortgage News, May 22, 2018–Bonnie Sinnock (Free Content)Originations and margins are thinning, and there will be mortgage banking firms that don’t make it through this year, but after that, the numbers may look better. “What a tough business this is right now. Margins are just incredibly tight,” Mortgage Bankers Association Chief Economist Mike Fratantoni said at the group’s secondary market conference in New York.
HQ Move Creating Over Thousand SC Mortgage Jobs
Mortgage Daily, May 22, 2018RoundPoint said it is moving its headquarters to Fort Mill, S.C. The servicer is investing $34 million in the new location.
Mortgage LO Sentenced to Prison
Mortgage Daily, May 22, 2018Joseph DiValli, a New Jersey mortgage loan originator, has been sentenced to hard time because of his role in a scheme involving $6 million in fraudulent residential loans.
First-Time Homebuyers Key to Opening Access to Credit
HousingWire, May 22, 2018–Kelsey RamirezPanelists at the MBA National Secondary Market Conference said the key to expanding access to credit is focusing on first-time homebuyers. Currently, the homeownership rate among younger families is not only below 2007 levels but also below the 2001 to 2006 levels, according to Tian Liu, Genworth Mortgage Insurance chief economist.
Who Needs a Down Payment? Trade In Your Old Home Instead
Wall Street Journal, May 22, 2018–Laura Kusisto (subscription)Soon it may be nearly as easy to trade in an old home for a new one as it is to dispense with a used car. Open Door Labs Inc., a San Francisco startup that buys homes in cash and turns around and flips them, is getting into business with home builders.
Stability Encumbers CMBS Market
Commercial Property Executive, May 22, 2018–Paul FiorillaForged out of crisis and sharpened during a cycle of frenetic activity, the commercial mortgage-backed securities market is struggling to adjust to a period of relative calm.
Surging Prices, Rates Test Demand in U.S. Housing Market
Bloomberg, May 21, 2018–Vince GolleFear of missing out may persuade Americans with an eye on buying a home to hurry their decision before it gets more expensive. But while demand shows few signs of teetering, jumps in both property values and borrowing costs will test the market’s durability.