Wall Street Journal, Jan. 30, 2018–Laura Kusisto (subscription)The U.S. homeownership rate rose in 2017 for the first time in 13 years as young households overcame significant hurdles to purchase homes in growing numbers and one of the deepest wounds from the housing crisis began to heal.
Category: Top National News
Lawmakers Press Mnuchin over GSE Reform, Reg Relief and Cyber Threats
National Mortgage News, Jan. 30, 2018–John Heltman (subscription)During a Senate Banking Committee hearing, Mnuchin said reform of Fannie Mae and Freddie Mac is a top priority of the Trump administration. While he declined to spell out many details of the administration’s views, he said keeping the 30-year fixed-rate mortgage is essential and that requires backing by a government guarantee.
Mnuchin Backs Crapo’s Bank Bill, Fannie-Freddie Overhaul
CQ News, Jan. 30, 2018–Doug Sword (subscription)Treasury Secretary Steven Mnuchin endorsed easing financial regulation for banks with less than $250 billion in assets and overhauling the nation’s housing finance system during testimony Tuesday before the Senate Banking Committee.
Getting Your Own Place? Buying Is Now Outpacing Renting in U.S.
Bloomberg, Jan. 30, 2018–Matthew BoeslerFollowing a surge in the number of Americans forming households as renters over the past decade in lieu of homeownership, the tide is starting to turn in the other direction.
Nationstar Settles Alleged MA Servicing Abuses
Mortgage Daily, Jan. 30, 2018Allegations of unfair servicing and foreclosure practices in Massachusetts have been resolved by Nationstar Mortgage LLC through a multi-million-dollar settlement.
JPMorgan Chase Shakes Up Senior Leadership, Dimon Staying Five More Years
HousingWire, Jan. 30, 2018–Caroline BasileDaniel Pinto and Gordon Smith have been appointed co-presidents and co-chief operating officers of JPMorgan Chase.
Frustrated by Losing Bidding Wars, House Hunter Starts His Own Mortgage Firm
Washington Post, Jan. 30, 2018–Michele LernerAfter losing multiple bidding wars as a first-time home buyer, Vishal Garg decided to start Better Mortgage, an online-only direct lender, to streamline the home financing process.
Mortgage Banking Group Seeks to Weed Out Sexual Harassment
National Mortgage News, Jan. 29, 2018–Bonnie Sinnock (subscription)The Mortgage Bankers Association’s professional development group for women examined how widespread and underreported the problem is by sending a survey to 2,000 members.
Is the Mortgage Forgiveness and Debt Relief Act Coming Back?
The Mortgage Reports, Jan, 29, 2018–Peter G. MillerThe Mortgage Relief and Debt Act is not in the news, and that’s a crime. Probably it seems odd that after more than a decade, we’re still picking and pulling over the mortgage meltdown.
How Lenders are Reducing Compensation Costs Without Hurting Sales
National Mortgage News, Jan. 29, 2018–Bonnie Sinnock (subscription)The seasonally weak first quarter is here, adding to the extraordinary number of cost challenges facing mortgage lenders following a year of lower volumes and higher rates.