Mortgage Compliance Magazine, May 2018–Tory BarringerDavid Upbin of MBA Education discusses the new Certified Mortgage Compliance Professional designation.
Category: Top National News
Rates Are Rising–And So Are Adjustable-Rate Mortgages
Forbes, May 3, 2018–Aly J. YaleIt’s no secret that mortgage rates have been rising. And though rates on adjustable-rate mortgages have increased, too, they’re still a far cry from those of longer-term, fixed mortgages. (MBA mention)
Nationstar Defies Drop in Home Lending at Peers
Mortgage Daily, May 3, 2018Declining origination income was more than offset by soaring servicing income at Nationstar Mortgage Holdings Inc., which bucked a downward quarter-over-quarter origination trend.
Large GSE MSR Offering
Mortgage Daily, May 3, 2018The offering is for MSRs on 17,925 GSE loans that had a collective unpaid principal balance of $5.101 billion as of March 31. All of the mortgages are fixed rate and in first-lien position.
Mortgage Firm Drops Major Challenge to Consumer Bureau Structure
The Hill, May 3, 2018–Sylvan LaneA spokesman for PHH Corp. on Thursday told The Hill that the mortgage firm did not appeal a January ruling in its suit against the CFPB to the Supreme Court by the May deadline to do so.
Fannie and Freddie Approve Thousands of Loans With No Formal Appraisals
Washington Post, May 2, 2018–Kenneth HarneyFor homeowners and buyers, it’s been an unexpected windfall: relief from having to pay for a traditional mortgage appraisal that usually costs between $400 and $600. But to some key players, the savings look ominous.
Mortgage Demand Drops 2.5% on the Highest Rates in Nearly 5 Years
CNBC, May 2, 2018–Diana OlickTotal application volume fell 2.5 percent for the week, and was 3.3 percent lower compared with the same week one year ago, according to the Mortgage Bankers Association.
Other Mortgage Insurers Gain Market Share on Arch in 1Q
National Mortgage News, May 2, 2018–Brad Finkelstein (subscription)It wasn’t unexpected that Arch MI would lose market share, but among the five private mortgage insurers that have reported so far, it is the only one that had lower new insurance written compared to the first quarter last year.
Genworth M.I. Earnings, Book of Biz Increase
Mortgage Daily, May 2, 2018Even though new business fell from the previous quarter at Genworth Mortgage Insurance Corp., its book of business and profitability both improved.
Freddie Eases 3% Down Limits for First-Time Homebuyers
National Mortgage News, May 2, 2018–Brad Finkelstein (subscription)In its latest effort to reach first-time homebuyers, Freddie Mac is launching a new 3% down payment program that casts aside a number of restrictions in its existing low down payment offerings.