Mortgage Daily, May 21, 2018National Mortgage Insurance Corp. will begin offering premiums that are based a loan’s risk profile determined by a variety of underwriting factors.
Category: Top National News
10 Secondary Market Abbreviations Every Mortgage Pro Must Know
National Mortgage News, May 18, 2018–Elina Tarkazikis (free story)With the Mortgage Bankers Association set to host its National Secondary Market Conference and Expo on Sunday, now’s a perfect time to brush up on some key secondary mortgage market terminology.
Mortgage Rates Hit Seven-Year High as Ultracheap Era Ends
Wall Street Journal, May 18, 2018–Laura Kusisto, Christina Rexrode (subscription)Mortgage rates this week jumped to their highest level since 2011, signaling a shift from a period of ultracheap loans to a higher-rate environment that could slow home price appreciation and squeeze first-time buyers.
Bank of America Introduces AI to Pay Your Mortgage
HousingWire, May 18, 2018–Kelsey RamirezBank of America announced Friday release of its artificial intelligence-driven virtual assistant, “Erica,” to assist mobile customers with their financial services.
Goldman C.E.O. Blankfein Is Likely to Step Down in December
New York Times, May 18, 2018–Kate KellyIn recent weeks, Lloyd Blankfein has quietly laid the groundwork to step down late this year. His exit will likely take place in conjunction with the firm’s annual dinner for retired partners in December, sources said.
More Housing Options for Seniors
UExpress, May 18, 2018–Lew SichelmanSeniors who are house-rich but cash-poor, or who fear running out of money in their retirement years, have several options to save the day.
HUD Kills Key Tool Used to Enforce Obama Fair Housing Rule
HousingWire, May 18, 2018–Ben LaneHUD announced late Friday afternoon that it is “withdrawing a computer assessment tool originally intended to be helpful to local governments in meeting their obligations under the Fair Housing Act to ‘affirmatively further fair housing.'”
Severity of Impact from ATR-QM Rules Eases
Mortgage Daily, May 18, 2018An overwhelming majority of bankers say the Ability-to-Repay and Qualified Mortgage rules have reduced available real estate credit. But the level of severity is diminishing.
Mortgage Originations [Up] From Year Ago at Navy FCU
Mortgage Daily, May 18, 2018Navy Federal Credit Union boosted its quarterly home lending volume from a year ago. The firm’s mortgage servicing portfolio continued to grow.
Banks Are Getting Another Volcker Rule Win
Bloomberg, May 21, 2018–Benjamin Bain, Jesse Hamilton (subscription)In their coming overhaul, the Federal Reserve and other regulators are expected to address Wall Street’s grievances against the Volcker Rule on hedging against losses.