Mortgage Daily, Feb, 8, 2018–Sam GarciaMortgage rates moved to an 11-month high this past week thanks to expectations about Federal Reserve rate hikes. Some signs point to another increase in mortgage rates over the next week.
Category: Top National News
Mortgage Volume Stalls as Rates Rise to the Hightest Level in Four Years
CNBC, Feb. 7, 2018–Diana OlickTotal mortgage application volume barely moved last week, up just 0.7 percent on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association. Volume was 5 percent higher than the same week a year ago.
Biggest Reverse Mortgage Lender Opens Forward Biz
Mortgage Daily, Feb. 7, 2018American Advisors Group, the country’s largest originator of federally insured reverse mortgages has begun offering traditional mortgages for its mostly older customers.
MBA Chair Motley Urges ‘Caution’ on Overhauling Servicer Compensation
National Mortgage News, Feb. 7 2018–Austin Kilgore (free story)Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo “could have ripple effects across the entire real estate finance industry,” warned Mortgage Bankers Association Chairman David Motley, CMB.
New Business, Delinquency Worse at Genworth M.I.
Mortgage Daily, Feb. 7, 2018Genworth Financial Inc.’s mortgage insurance unit saw increased income despite higher delinquency and losses at its parent. New business fell, but the book of business expanded.
Looking Back on Three Decades With David Stevens
The MReport, Feb. 7, 2018–David Wharton, Rachel WilliamsFor his final year at the head of the MBA, Stevens says his focus will be on keeping “the membership confident and engaged” and on working with members of Congress such as Sen. Bob Corker (R-Tennessee) and Rep. Jeb Hensarling (R-Texas) on GSE reform.
Credit Availability Increases as Mortgage Rates Move Higher
Investopedia, Feb. 7, 2018–Donna FuscaldoMortgage rates may be on the rise, but when it comes to lending standards, they are loosening, increasing the availability of mortgage credit. According to the Mortgage Bankers Association, the Mortgage Credit Availability Index, or MCAI, increased by 2.1% in January to 182.9.
How FHFA Could Reform Housing Finance if Congress Doesn’t
National Mortgage News, Feb. 7, 2018–Ian McKendry (subscription)If Congress can’t get a housing finance reform bill passed by the midterm elections, the Trump administration and Federal Housing Finance Agency may chart a future for Fannie Mae and Freddie Mac without lawmakers’ input.
Black Knight Names Anthony Jabbour CEO
HousingWire, Feb. 7, 2018–Ben LaneBlack Knight, fresh off a fourth quarter that saw its year-over-year earnings increase by nearly $136 million, is about to have a new leader. In conjunction with announcing its fourth quarter earnings, Black Knight announced that it is naming Anthony Jabbour as the company’s new CEO.
Predictions of a Crash in Housing Prices Have Not Come True
Washington Post, Feb. 6, 2018–Kenneth HarneyWere fears overblown that changes to the federal tax law would trigger plunging home values?