Mortgage Daily, Feb. 15, 2018Quarterly business ascended to a record high at National Mortgage Insurance Corp. As the book of business grew, so did delinquency.
Category: Top National News
MBA Disputes Mortgage Discrimination Analysis
Mortgage Daily, Feb. 15, 2018An analysis of the rate some minorities are turned down for a home loan versus their white counterparts drew a sharp response from the Mortgage Bankers Association.
GSE Reform Isn’t Dead, But it Isn’t Going Anywhere, Either
National Mortgage News, Feb. 15, 2018–Ian McKendry (subscription)Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.
Senior Execs at Vanguard Funding Admit to Embezzling $8.9 Million
HousingWire, Feb. 15, 2018–Ben LaneAccording to the U.S. Attorney’s Office for the Eastern District of New York, Edward Sypher, Jr. and Matthew Voss, who are senior executives at Vanguard Funding, pleaded guilty to conspiring to commit wire and bank fraud in connection with the scheme.
Goldman Sachs Nearing $1 Billion in Consumer Relief in Massive Toxic Mortgage Bond Settlement
HousingWire, Feb. 15, 2018–Ben LaneGoldman Sachs forgave more than $73.5 million in mortgage debt in the last few months, as the financial giant works to meet a $1.8 billion consumer relief obligation that’s part of the company’s $5 billion settlement reached in April 2016 over toxic mortgage bonds.
Banks Pour More Money into Mortgage Fintech Roostify
American Banker, Feb. 15, 2018–Bryan Yurcan (subscription)Fintech firm Roostify completed a $25 million Series B round of financing that involved investments from several banks.
Wall Street Snaps Up Cheap Single-Family Rentals
Bloomberg, Feb. 16, 2018–Patrick ClarkAs Wall Street’s rental-home industry matures from its early days of frenzied homebuying after the foreclosure crisis, upstarts such as Promise are turning to cheaper houses that have largely been cast aside by big, established landlords.
U.S. Producer Prices Rise in January; Industrial Output Falls
Reuters, Feb. 15, 2018–Lucia MutikaniU.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.
Eight Takeaways from MBA’s CREF/Multifamily Convention and Expo 2018, Day Two
National Real Estate Investor, Feb. 14, 2018–Elaine MisonzhnikAs the annual MBA’s CREF/Multifamily convention got underway this week in San Diego, attendees expressed a healthy level of appetite for originating new loans and a desire to lend the same amount or more this year than they did in 2017.
Stock Jitters and Higher Interest Rates Drive Weekly Mortgage Applications Down 4.1%
CNBC, Feb. 14, 2018–Diana OlickLast week’s wild ride in the markets and another rise in interest rates were likely the cause of a 4.1 percent weekly drop in mortgage application volume. The seasonally adjusted count from the Mortgage Bankers Association was just 3.5 percent higher than a year ago.