Category: Top National News

National Mortgage News, Feb. 1, 2018–Kate Berry (subscription)Acting Consumer Financial Protection Bureau Director Mick Mulvaney has stripped the agency’s fair lending office of enforcement powers in a sign that many consumer advocates see as trying to reduce oversight and penalties for firms that discriminate against borrowers.

City Lab, Feb. 1 ,2018–Richard FloridaA new study says the continuing low density of inner suburbs is a major cause of the housing crisis–and a potential solution.

American Banker, Jan. 31, 2018–Kate Berry (subscription)A federal appeals court handed a major victory – and a significant defeat – to the Consumer Financial Protection Bureau by upholding its constitutional structure while also slapping down the agency’s practice of making new interpretations of law through enforcement actions.

Reuters, Jan. 31, 2018–Richard LeongRising borrowing costs are dampening U.S. refinancing activity, with its weekly share of mortgage applications falling to the lowest level since August, the Mortgage Bankers Association said on Wednesday.

National Mortgage News, Jan. 31, 2018–Bonnie Sinnock (subscription)Sustained higher rates could extend the lives of existing mortgages, creating a growing workload for servicers, according to industry vendor Subsequent QC.

Bloomberg, Jan. 31, 2018–Joe LightThe draft, the result of discussions between Tennessee Republican Bob Corker and Virginia Democrat Mark Warner, gives the clearest view yet into how the senators aim to woo progressive politicians to back their plan for addressing mortgage-giants Fannie Mae and Freddie Mac. Support from those Democrats is likely needed to meet the 60-vote threshold for passing major bills in the Senate.

Bloomberg, Jan. 31, 2018–David M LevittAmerica may never recover its glory as a manufacturing powerhouse, but the Brooklyn Navy Yard is doing what it can, transforming itself from a 20th-century warship builder to a 21st-century high-tech hub.

National Real Estate Investor, Jan. 31, 2018–Beth Mattson-TeigInvestors and developers in the Low-Income Housing Tax Credit market are adapting to a dramatic drop in pricing over the past year and expecting more uncertainty ahead.

Mortgage Daily, Jan. 31, 2018Mortgage servicing rights on 1,176 Fannie Mae, Freddie Mac and Ginnie Mae loans with a collective unpaid principal balance of $361 billion are being offered for sale.

San Francisco Business Times, Jan. 31, 2018–Mark CalveySoFi cut 5 percent of the workers in its mortgage operations this week, primarily affecting the fintech’s offices in Healdsburg and Utah.