National Mortgage News, Feb. 12, 2018–Bonnie Sinnock (subscription)Homebuyers are most likely to slow their purchases or stay on course if mortgage rates rise above a certain benchmark, but some could act more quickly or drop out.
Category: Top National News
Zillow: The Odds Seem Stacked Against Single Homebuyers
National Mortgage Professional, Feb. 12, 2018–Phil HallA single homebuyer needs to devote 11 years to savings for a 20 percent downpayment on the typical U.S. home, while married or partnered couples require less than five years, according to a new Zillow analysis.
Regulation Reduction Continues at CFPB
Mortgage Daily, Feb. 12, 2018The latest request for information from the Consumer Financial Protection Bureau marks the third in the past month as the Trump administration continues to reduce regulation on financial services providers.
MBA Releases 2018 Outlook
Commercial Property Executive, Feb. 12, 2018–Sanyu KyeyuneOrigination volume is slowing, according to the Mortgage Bankers Association. MBA forecasts $549 billion in commercial and multifamily originations by year-end 2018, down 3 percent from 2017, and near-flat volume in 2019.
Ocwen Jettisons Executive Vice President of Lending as Business Shift Continues
HousingWire, Feb. 12, 2018–Ben LaneOtto Kumbar was, until last week, Ocwen’s executive vice president of lending, but Ocwen disclosed Monday that Kumbar’s position was eliminated “in connection with the company’s previously disclosed strategic assessment of its lending business.”
Thousands of Mortgage Lending Jobs at Risk as Refis Drop
HousingWire, Feb. 12, 2018–Kelsey RamirezThousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000. The Mortgage Bankers Association recently predicted the Federal Reserve will raise the federal funds rate four times in 2018 and twice more in 2019.
Commercial Mortgage Originations Ended 2017 on a High Note
National Mortgage Professional, Feb. 12, 2018–Phil HallCommercial and multifamily mortgage originations during 2017 was up 15 percent from the previous year, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Early-Stage Mortgage Delinquencies Dropped in Q4 2017
DS News, Feb. 12, 2018–David WhartonAccording to the MBA Fourth Quarter 2017 National Delinquency Survey, general downward trends for mortgage delinquencies continued as 2017 wrapped up, even after the impact of a historically damaging hurricane season.
How Trump’s Budget Affects CFPB, GSE Fees, Other Bank Priorities
National Mortgage News, Feb. 12, 2018–John Heltman, Ian McKendry (subscription)The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.
Mulvaney Unveils Sweeping Plan to Dramatically Alter CFPB
HousingWire, Feb. 12, 2018–Ben Lane”If there is one way to summarize the strategic changes occurring at the bureau, it is this: we have committed to fulfill the bureau’s statutory responsibilities, but go no further,” Mulvaney said in a statement.