National Mortgage News, Apr. 3, 2018–Brian Collins (subscription)The dominant player in manufactured housing, Clayton Homes, is supporting HUD’s review of construction and safety standards on manufactured homes.
Category: Top National News
Freddie Mac to Offer Faster, Cheaper Financing on Affordable Rentals
HousingWire, Apr. 3, 2018–Kelsey RamirezFreddie Mac announced its program, Targeted Affordable Housing Express, a new offering designed to provide faster, simpler and cheaper financing for the preservation of smaller, affordable rental properties.
Wells Fargo Names New Retail Mortgage Chief
Mortgage Daily, Apr. 3, 2018Perry Hilzendeger started with Wells Fargo 28 years ago. While most recently he has been in servicing-related jobs, he also has worked in fulfillment, sales and sales management.
MBA Calls for Competitive Credit Score Requirements
HousingWire, Apr. 3, 2018–Kelsey Ramirez”While credit scores play only a limited role in the underwriting process for loans acquired by the Enterprises, their impact on borrower eligibility and loan pricing warrants periodic review,” MBA President and CEO David Stevens wrote.
Hey Mortgage Lenders! Do You Know Why We Have an FHA Commissioner?
HousingWire, Apr. 3, 2018–Nate ShultzThe author, with independent mortgage bank TMS, says without an FHA commissioner in place, it will be unlikely lenders will see changes to FHA policy or processes.
Mortgage Applicants Beware: Audit Says IRS ‘Tax Transcript’ Program Lacks Adequate Security Protections
Washington Post, Apr. 4, 2018–Kenneth R. HarneyFederal auditors say the popular “tax transcript” program run by the Internal Revenue Service and used by millions of mortgage applicants a year lacks adequate security protections against disclosures of tax-return details to people who shouldn’t be allowed to obtain them.
Flexible Boundaries and Exams: How Treasury Would Modernize CRA
National Mortgage News, Apr. 3, 2018–Rachel Witkowski (subscription)The Treasury Department released long-awaited recommendations Tuesday of reforms for enforcing the nearly 40-year-old Community Reinvestment Act.
Adjustable-Rate Mortgage Applications Have Lower Fraud Risk
National Mortgage News, Apr. 2, 2018–Brad Finkelstein (subscription)There is now less fraud risk associated with adjustable-rate mortgage applications and this will offset some of the higher hazard associated with a purchase market, said First American Financial Corp.
Time’s Up: GSE Reform Ain’t Happening This Year
National Mortgage News, Apr. 2, 2018–Victoria Finkle (subscription)When draft Senate legislation–based on talks between Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va.–leaked back in January, observers had warned the effort would need to quickly pick up steam in order to have a prayer of enactment ahead of the midterm elections this November. Instead, momentum has been moving in the wrong direction.
Trump’s Consumer Watchdog Proposes to Trim Agency’s Power
Reuters, Apr. 2, 2018–Patrick RuckerMick Mulvaney, the head of the Consumer Financial Protection Bureau, said the agency has the kind of power that should only rest with Congress. “The Bureau is far too powerful, with precious little oversight of its activities,” Mulvaney told Congress in a routine report.