Reuters, Mar. 20, 2018–Susan Cornwell, Richard CowanU.S. lawmakers sought to reach agreement on Tuesday on a massive government spending bill that Congress hopes to pass by Friday, with immigration issues such as President Donald Trump’s border wall a stumbling block in the negotiations.
Category: Top National News
Opinion: Is The Fed Really Ready to Run With the Bulls?
MarketWatch, Mar. 20, 2018–Caroline BaumThree or four interest rate increases? That is the burning question on everyone’s mind as the Federal Reserve meets this week for the first time under the stewardship of new Chairman Jerome Powell.
FHA Biz and Delinquency Improve, HECM Biz Spikes
Mortgage Daily, Mar. 20, 2018Monthly residential production picked up at the Federal Housing Administration, with reverse mortgage endorsements spiking. Single-family delinquency was down, and commercial mortgage endorsements jumped.
UWM: Brokers Hurt Least by Rising Interest Rates
HousingWire, Mar. 20, 2018–Kelsey RamirezBrokers in general thrive in purchase markets, UWM President and CEO Mat Ishbia said. He pointed out that brokers typically do less refinances, and therefore the decrease in refi shares will be less likely to affect them.
A CFPB Commission Will Never Fly
National Mortgage News, Mar. 20, 2018–Kate Berry (subscription)Critics of the Consumer Financial Protection Bureau have long pinned their hopes on converting the Consumer Financial Protection Bureau’s leadership structure from a single director to a five-member commission. But with the recently passed Senate regulatory relief bill excluding such a measure, and that bill’s fate resting in the hands of moderate Democrats opposed to changes in the CFPB’s structure, such a measure is now dead on arrival.
FHA is Making Progress on False Claims Act Concerns: Carson
National Mortgage News, Mar. 20, 2018–Brian Collins (subscription)HUD’s efforts with the Justice Department to address lenders’ fears of being sued under the False Claims Act are having a positive impact, Secretary Ben Carson said Tuesday.
Despite What Some Lenders Think, It’s a Bad Time to Get Lax on Compliance
HousingWire, Mar. 20, 2018–Sarah WheelerPresident Donald Trump has made eliminating regulations a top priority of his administration and has tried to limit the reach of one of the chief mortgage regulators–the Consumer Financial Protection Bureau. But lenders who interpret that to mean they can relax their compliance efforts are sadly mistaken, according to analysts at the Ellie Mae Encompass conference in Las Vegas.
U.S. Starter Homes Are Scarcer, Pricier, Smaller and More Run-Down
Bloomberg, Mar. 21, 2018–Noah Buhayar”Starter homes have become scarcer, pricier, smaller, older and more likely in need of some TLC” than they were six years ago, the real estate website Trulia reported Wednesday after analyzing housing stock across the country.
Reverse Mortgages Surge at Ginnie Mae
National Mortgage News, Mar. 20, 2018–Bonnie Sinnock (subscription)Ginnie Mae mortgage-backed securities backed by Home Equity Conversion Mortgages totaled $1.47 billion during February, up from $869 million the previous month and up from $713 million a year ago.
American Homes are More Affordable Than They’ve Been in 40 Years–But That Could Change Sooner than You Think
Business Insider, Mar. 19, 2018–Tanza LoudenbackThe U.S. housing market is favorable for sellers and tough for buyers right now. Prices are steep thanks to strong demand and low supply, particularly for starter homes. But all things considered, buying a home is more affordable for millennials now than it was for their parents, according to new data from Trulia.