Mortgage Daily, Apr. 25, 2018HUD’s Mortgagee Review Board took actions against 20 FHA mortgagees during the past year.
Category: Top National News
Small-Dollar Mortgages for Single-Family Residential Properties
Urban Institute, Apr. 25, 2018–Alana McCargo, et alThe authors examine availability of small-dollar mortgages (up to $70,000) for home purchases, refinances and improvements, presenting information on borrower and loan characteristics, production channels and the geographic distribution of low-cost homes.
Homebuyers are Stretching Their Budgets and Mortgage Limits to Win Bidding Wars
CNBC, Apr. 24, 2018–Diana OlickMore buyers are stretching their budgets, putting less money down or using adjustable rate loans that offer lower rates. Borrowers have more options for low-downpayment loans, options that were not available as recently as just a few years ago.
WEI Mortgage Becomes Latest Victim of Data Breach
HousingWire, Apr. 24, 2018–Ben Lane Virginia-based WEI Mortgage disclosed this week that is the victim of a data breach that may have exposed the highly sensitive personal information of the lender’s customers.
Mortgages, Other Loans Get Pricier as 10-Year Treasury Rate Tops 3%
USA Today, Apr. 24, 2018–Adam ShellEarly Tuesday, the 10-year Treasury yield ticked above 3% for the first time since January 2014, according to Tradeweb. The closely watched benchmark affects borrowing costs for businesses and shoppers and is the latest sign that interest rates are moving up after remaining depressed for nearly a decade following the financial crisis.
Reg Relief in Limbo as House, Senate Refuse to Budge
National Mortgage News, Apr. 24, 2018–Neil Haggerty (subscription)A bill to provide community banks with regulatory relief remains stuck as House and Senate lawmakers are still at odds over whether to add provisions to the Senate effort.
Mulvaney to Drop Public Complaints Against Firms, Change CFPB Name
National Mortgage News, Apr. 24, 2018–Rachel Witkowski (subscription)Acting Consumer Financial Protection Bureau Director Mick Mulvaney vowed to bankers on Tuesday that he would halt the agency’s actions against indirect auto dealers, stop posting consumer complaints online and change the bureau’s name.
U.S. Treasury Boasts Deregulation Reform Accomplishments
HousingWire, Apr. 24, 2018–Kelsey RamirezThe report explained the Treasury reduced its regulatory agenda by about 100 regulations compared to the Fall 2016 agenda. The Treasury also explained only two of its regulations were identified as significant regulatory actions, and the remaining items on the agenda are burden-reducing or have yet to be classified.
Year-Over-Year Gain in Flagstar Home Lending
Mortgage Daily, Apr. 24, 2018With the help of a recent acquisition, Flagstar Bancorp Inc. was able to make a year-over-year gain in mortgage originations. Ongoing reductions continued, though, for the primary servicing portfolio.
Genworth Lowers Mortgage Insurance Premiums
Mortgage Daily, Apr. 24, 2018Genworth Mortgage Insurance said Tuesday that it is cutting it national rates for borrower-paid monthly premiums and single premiums.