Mortgage Daily, Feb. 14, 2018Several dozen positions are being eliminated by Stearns Lending LLC at a mortgage facility in North Texas.
Category: Top National News
House Backs Bill That Would Benefit Fintech Partnerships With Banks
Wall Street Journal, Feb. 14, 2018–Lalita Clozel (subscription)The House on Wednesday approved a bill that would make the resale of high-interest loans more attractive to third-party buyers such as debt collectors-and bolster fintech firms’ partnerships with banks.
U.S. CPI Tops Estimates as Apparel Costs Jump Most in 30 Years
Bloomberg, Feb. 14, 2018–Katia DmitrievaThe consumer price index rose 0.5 percent from the previous month, above the median estimate of economists for a 0.3 percent increase, a Labor Department report showed Wednesday.
Shopping for a Home? It Will Take a Lot Longer than You Think…
CNBC, Feb. 13, 2018–Diana OlickHomes today are selling in about 40 days on average, almost two weeks faster than a year ago. But it is taking a lot longer for shoppers to find a home to buy.
How Lenders Who Prey on Veterans Hurt Other Homebuyers as Well
Washington Post Writers Group, Feb. 13, 2018–Kenneth R. HarneyCould predatory lending practices affecting veterans also be inflating interest rates paid by thousands of unsuspecting homebuyers using Federal Housing Administration loans? Michael Fratantoni, chief economist for the Mortgage Bankers Association, said “it absolutely impacts interest rates” adversely when investors cut the prices they’ll pay for Ginnie Mae bonds.
Optimizing Environmental Due Diligence in CRE Transactions
Commercial Property Executive, Feb. 13, 2018–Sanyu KyeyuneEnvironmental and engineering expert Dan Spinogatti outlines considerations to improve assessment of environmental risk to keep real estate deals on time and on budget, during the Mortgage Bankers Association CREF/Multifamily Finance conference in San Diego.
The States Damaged by the Financial Crisis Still Stand Out a Decade Later
MarketWatch, Feb. 13, 2018–Greg RobbA decade later, echoes of the financial crisis still linger in mortgage debt data, according to research released by the New York Fed on Tuesday.
Mulvaney Unveils New CFPB Five-Year Strategic Plan
National Mortgage Professional, Feb. 13, 2018–Phil HallThe Consumer Financial Protection Bureau released a five-year Strategic Plan that offers a very different approach to regulatory oversight than the draft version initially released in October.
Upbeat FHA Outlook in Trump Budget Renews Call for Premium Reduction
National Mortgage News, Feb. 13, 2018–Brian Collins (subscription)The Trump administration’s new budget proposal shows the Federal Housing Administration mortgage insurance program should be very profitable in fiscal year 2019, but there are no indications that the FHA will reduce its mortgage insurance premiums anytime soon.
Nationstar (aka Mr. Cooper) Merging with WMIH in $3.8 Billion Deal
HousingWire, Feb. 13, 2018–Ben LaneNationstar announced Tuesday morning it is merging with WMIH Corp., the former parent company of Washington Mutual in a $3.8 billion deal.