Mortgage Daily, Feb. 9, 2018–Sam GarciaMortgage-related conferences, events and meetings have been added to Mortgage Daily’s Mortgage Conference Calendar. The housing finance system, regulation and reverse mortgages are among the topics to be covered.
Category: Top National News
Mortgage Rates Hit 14-Month High as Bonds Sell Off
MarketWatch, Feb. 8, 2018–Andrea RiquierRates for home loans rose to the highest in more than a year, raising the prospect of a fresh headwind for housing that mortgage professionals think the market can handle–for now.
Easing Mortgage Standards Are Resulting in More Late Payments
Bloomberg, Feb. 8, 2018–Prashant GopalThe share of borrowers who are late on their Federal Housing Administration loans, which primarily go to first-time homebuyers, rose to 10.4 percent in the fourth quarter from 9 percent a year earlier, according to data from the Mortgage Bankers Association.
MBA: Interest Rates to Increase Four Times in 2018
HousingWire, Feb. 8, 2018–Caroline BasileDuring Thursday’s general economic outlook session at MBA’s Servicing conference, Joel Kan, MBA’s associate vice president of industry surveys and forecasts, told conference attendees that the organization expects four increases in 2018 and another two increases in 2019.
Lenders to Allow Airbnb on Mortgage Forms
MarketWatch, Feb. 8, 2018–Laura KusistoHomeowners soon will be able to count income they earn from Airbnb Inc. rentals on applications for refinance loans.
U.S. Threatens to Dump Lenders From Veterans Loan Program
Bloomberg, Feb. 8, 2018–Joe LightNine lenders have been warned by Ginnie Mae that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans’ loans.
House Clears Bill to Ease Limits on QM Points and Fees
National Mortgage News, Feb. 8, 2018–Brian Collins (subscription)The House passed a bill Thursday that would loosen regulatory restrictions on the mortgage points and fees charged by lender-affiliated title insurers and other companies.
The Key To Preventing Foreclosure After a Natural Disaster
National Mortgage News, Feb. 8, 2018–Brad Finkelstein (free story)To put it mildly, 2017 – with three major hurricanes, wildfires and other extraordinary events – was a living stress test of servicers’ and government agencies’ preparedness plans for helping borrowers in damage zones. Their coordinated responses appear to have improved from past natural disasters, industry and government representatives said Wednesday during panel discussions at the Mortgage Bankers Association Servicing Conference in Dallas.
Originations Fall, Servicing Grows at PennyMac
Mortgage Daily, Feb. 8, 2017Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.
Fed Is ‘A Long Way Away’ From Having to Raise Interest Rates Due to Wage Pressure: Kashkari
MarketWatch, Feb. 8, 2018–Greg RobbThe U.S. central bank is “a long way away” from having to raise interest rates due to higher inflation caused by higher labor costs, Minneapolis Fed President Neel Kashkari said Thursday.