Bloomberg, May 18, 2018–Joe LightFor nearly a decade, the Federal Housing Finance Agency has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die. But despite those limits, Fannie Mae general counsel Brian Brooks has done just that over the past few months, quietly meeting with people inside and outside President Donald Trump’s administration.
Category: Top National News
Wall Street Landlords Are Firing Up Their Home-Buying Engines
Bloomberg, May 17, 2018–Patrick ClarkInstitutional investors bought more single-family rental homes in 2017 than in previous year, the first increase since 2013, according to data compiled by Amherst Holdings LLC.
Weekly Mortgage Applications Fall 2.7% Even Before Rates Spike
CNBC, May 16, 2018–Diana OlickMortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 4.5 percent lower than a year ago.
Mortgage Delinquencies Show Improvement But Still Face Pressure
National Mortgage News, May 16, 2016–Bonnie Sinnock (subscription)Overall, seasonally adjusted delinquencies in the first quarter declined by 54 basis points from the previous quarter but were just 8 basis points lower than the same period in 2017, according to the Mortgage Bankers Association’s latest National Delinquency Survey.
Even A ‘Good’ Credit Score Equals $15K More In Mortgage Costs
Forbes, May 16, 2018–Ali J. YaleBuyers with a 760 or higher, for example, pay around $207,000 in interest over the course of their mortgage. Those with a 719-largely still considered a “good” score by most lenders-would cost more than $222,000 in interest, a difference of $15,000, said LendingTree.
MSRs Offered on Nearly $2 Billion in Ginnie Loans
Mortgage Daily, May 16, 2018The offering includes mortgage servicing rights on 7,895 Ginnie Mae mortgages that had a collective outstanding principal balance of $1.817 billion as of April 30.
Refi Share Deflates as Rates Inflate
Mortgage Daily, May 16, 2018As mortgage rates pushed higher, monthly refinance share continued to deflate. Compared to a year ago, conventional share grew at the expense of government share, Ellie Mae said.
MBA Releases Disaster Recovery Guide
National Mortgage Professional, May 16, 2018The Mortgage Bankers Association released a new consumer-facing information brochure, “Disaster Recovery: A Resource for Homeowners,” available for use by all MBA members, counseling groups, government agencies and any other group that offers assistance and advice to homeowners in the aftermath of a natural disaster.
Union Home Mortgage Acquires Arizona’s Alliance Home Loans
HousingWire, May 16, 2018–Ben LaneOhio-based Union Home Mortgage, a lender with more than 130 branches in 36 states, is set to grow its business after it acquired Alliance Home Loans, a lender based in Phoenix.
Goldman Sachs Mortgage Relief Settlement Actions Near $1B
DS News, May 16, 2018–David WhartonGoldman Sachs is approaching the billion-dollar mark for mandated consumer-relief actions stemming from two mortgage-related settlement agreements with the Department of Justice and three states.