National Mortgage News, Mar. 6, 2018–Bonnie Sinnock (subscription)While more than half of recent traditional home loans tracked by the Mortgage Bankers Association are purchase originations, less than 10% of the Home Equity Conversion Mortgages processed by ReverseVision’s origination system get used by borrowers to buy a house.
Category: Top National News
Senate Agrees to Begin Debate over Dodd-Frank Overhaul Bill
HousingWire Mar. 6, 2018–Kelsey RamirezThe Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act and is expected to vote on the bill at some point this week.
That Much Prophesied Commercial Property Bust Still Hasn’t Happened
Wall Street Journal, Mar. 6, 2018–Esther Fung (subscription)The delinquency rate for securitized loans in the commercial real-estate industry has dropped for eight consecutive months, defying expectations in recent years of a wave of defaults.
HUD Selling Vacant Property Loans
Mortgage Daily, Mar. 6, 2018The offering from HUD is for 650 notes that have an aggregate unpaid principal balance of $136 million.
Radian Relaxes Mortgage Insurance Requirements
Mortgage Daily, Mar. 6, 2018Improvements to requirements at Radian Guaranty Inc. include lower mortgage insurance premiums and the insuring of three- and four-unit residential loans.
Gary Cohn Resigning as Top White House Economic Advisor
Politico, Mar. 6, 2018–Ben White, Cristiano LimaGary Cohn is resigning as National Economic Council director amid a battle over tariffs within the Trump administration, the White House said Tuesday.
More Apartment Landlords Offer Free Rent to Lure Tenants
National Real Estate Investor, Mar. 6, 2018–Bendix AndersonAs the percentage of vacant apartments creeps higher in cities and towns across the country, more property managers are offering months of free rent to potential residents to get them to sign leases.
Banks Want In on Tax Reform Plan to Spur Investment in Distressed Areas
National Mortgage News, Mar. 6, 2018–Brian Collins (subscription)In passing President Trump’s tax cut bill, Congress approved a new program that allows investors to defer paying taxes on capital gains if they invest in “Opportunity Zones.”
U.S. Manufacturing, Business Spending on Equipment Slowing
Reuters, Mar. 6, 2018–Lucia MutikaniNew orders for U.S.-made goods recorded their biggest decline in six months in January and business spending on equipment appeared to be slowing after strong growth in 2017.
Over a Million Americans May Have Just Lost Their Shot at Refinancing
MarketWatch, Mar. 5, 2018–Andrea RiquierIndustry participants believe many Americans are rushing to get ahead of rates that are only expected to go higher from here. (MBA mention)