Washington Post, Jan. 8, 2018–Kathy OrtonThe Mortgage Bankers Association predicts mortgage rates will become more volatile in the coming year now that the Federal Reserve is winding down its balance sheet.
Category: Top National News
Credit Score Changes in Mortgage Market Could Increase Homeownership Opportunities
Fox Business, Jan. 8, 2018–Brittany De LeaThe housing market could be on the verge of a shake-up, as well-established credit scoring requirements are being reevaluated by the Federal Housing Finance Agency, potentially opening up the mortgage market to a greater number of aspiring homeowners.
FHFA Should Resist Calls to Weaken Mortgage Standards
American Banker, Jan. 8, 2018–Joseph A. Smith Jr. (subscription)The author, former North Carolina Banking Commissioner, says the Federal Housing Finance Agency would be wise to stay with established and tested credit scoring methods, expanding them slowly and in light of market knowledge built over decades.
Are Lenders or Homebuyers Playing it Too Safe with Credit Scores?
National Mortgage News, Jan. 8, 2018–Elina Tarkazikis (subscription)The widening credit score gap between the average consumer and homebuyer reflects better consumer awareness of how credit scores work contrasted against growing uncertainty about what it takes to qualify for a mortgage that’s keeping many would-be homeowners on the sidelines.
IRS Continues Repair of Income Verification System After Mortgage Industry Panic
National Mortgage News, Jan. 8, 2018–Brian Collins (subscription)The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry.
CitiMortgage Launches Single Digital Origination Platform
HousingWire, Jan. 8, 2018–Kelsey RamirezCitiMortgage announced Monday agreements with two digital technology platforms to offer its new single digital platform for its clients.
London Beats New York Among Foreign Investors in Real Estate
Bloomberg, Jan. 8, 2018–Peter JeffreyNew York City took a double hit in an annual survey of real estate investors, which saw London overtake it in first place globally and Los Angeles tie it for top U.S. city.
Huge GSE MSR Portfolio on the Market
Mortgage Daily, Jan. 8, 2018The offering is for mortgage servicing rights on 12,115 Fannie Mae and Freddie Mac single-family loans that had an aggregate unpaid principal balance of $3.005 billion as of Nov. 30.
Industry Memorializes CFPB’s Laurie Maggiano on Social Media
HousingWire, Jan. 8, 2018–Caroline BasileDuring the weekend, the mortgage finance industry was saddened to learn the loss of Laurie Maggiano, an industry leader who served as the servicing and secondary markets program manager for the Consumer Financial Protection Bureau.
LoyaltyExpress Inks Deal to Acquire Lending Manager
HousingWire, Jan. 8, 2018–Ben LaneIn a release, the companies say that the combined company will service 115 lenders with more than 15,000 loan officers across all platforms.