Mortgage Professional America, Mar. 5, 2018–Francis MonfortMost homeowners with adjustable-rate mortgages could experience their first interest rate increase if the low-interest-rate environment ends, according to survey results released by HSBC.
Category: Top National News
Competition May Force CMBS Issuers to Pursue Higher LTV Loans
National Mortgage News, Mar. 5, 2018–Bonnie Sinnock (subscription)”Many market participants believe that increased conduit leverage is required for the CMBS market to effectively compete for future commercial real estate loans and maintain CMBS conduit issuance at sustainable levels,” Fitch Ratings analysts wrote in a report.
Fed Considering ‘Broad Revisions’ to Volcker Rule Compliance
Wall Street Journal, Mar. 5, 2018–Lalita Clozel (subscription)The Federal Reserve is considering “broad revisions” to how banks comply with a rule that prevents them from engaging in certain types of trading and investing.
113 Congressional Republicans Declare Support for Mick Mulvaney as CFPB Director
HousingWire, Mar. 5, 2018–Ben LaneThe lines of support are very clearly drawn in the battle over who should serve as interim director of the Consumer Financial Protection Bureau.
Crapo, Hensarling Lead Court Brief Supporting Mulvaney as CFPB Head
National Mortgage News, Mar. 5, 2018–Ian McKendry (subscription)The 38 senators and 75 House members–led by Senate Banking Committee Chairman Mike Crapo, R-Idaho, and House Financial Services Committee Chairman Jeb Hensarling, R-Texas–said President Trump had legal standing to appoint Mulvaney despite deputy CFPB Director Leandra English’s claim that she was the rightful acting director.
Chase Offers $3,000 Grant to Low-Income Homebuyers
HousingWire, Mar. 5, 2018–Kelsey RamirezQualified buyers will be eligible to receive a $2,500 grant along with an additional $500 available for customers getting a DreaMaker mortgage after they complete a homebuyer education course.
Manhattan Apartment Sales Plummet in January to 2012 Low
Reuters, Mar. 5, 23018–Herbert LashApartment sales in Manhattan fell to the lowest monthly rate in January since February 2012 as a declining trend in city-wide sales both by price and volume emerged, listings and data website CityRealty said on Monday.
Ben Carson on His Vexing Reign at HUD: Brain Surgery Was Easier Than This
New York Times, Mar. 5, 2018–Glenn Thrush, Robin LindsayCarson’s efforts to steer the agency toward programs that foster self-sufficiency, one of his stated goals, have been undermined by staffing mistakes, his indecisiveness and a president indifferent, at best, to the department’s mission of helping the poor, according to two dozen current and former HUD and administration officials.
Your Zillow Account Makes It Costlier to Buy a Home
Bloomberg, Mar. 5, 2018–Issi RomemThe author, chief economist with Buildzoom Inc., says available information about homes on the internet force buyers to race and make offers, driving up prices.
Former Stearns CEO Named Mortgage Chief at Builder
Mortgage Daily, Mar. 5, 2018Brian Hale, former CEO of Stearns Lending LLC, will join William Lyons Homes as president.