Mortgage Daily, Jan. 3, 2018HECM production by FHA mortgagees was slightly stronger compared to the final month of 2016, when the agency endorsed 4,658 reverse mortgages.
Category: Top National News
Procedural Move will Delay Top Fed, FHA, FDIC Nominations
National Mortgage News, Jan. 3, 2018–Brian Collins (subscription)More than 100 pending Trump administration nominees must update their financial disclosures and have the White House resubmit their names for consideration by the Senate, including Fed Chair-designate Jerome Powell and Federal Deposit Insurance Corp. Chair-designate Jelena McWilliams.
The Formidable Fannie and Freddie: Is Multifamily Lending Set for a Slowdown in 2018?
Commercial Observer, Jan. 3, 2018–Mack BurkeFannie Mae and Freddie Mac have recently set multifamily lending records, but in the current multifamily market environment, that volume and competition could create a problem–and a slowdown may be on the way.
MBA Opens Doors Foundation Raises Record $1.8 Million in 2017
HousingWire, Jan. 2, 2018–Caroline BasileNow in its fifth full operating year, MBA Opens Doors has assisted nearly 1,600 families.
FHA Loan Limits are Increasing: That’s Good News for Borrowers
The Mortgage Reports, Jan. 2, 2018–Erik. J. MartinHUD recently announced that FHA loan limits will increase in many parts of the country. This is big news for borrowers who want to pursue an FHA mortgage loan.
CFPB 2018 Outlook: More Deregulation, More Upheaval
National Mortgage News, Jan. 2, 2018–Kate Berry (subscription)To say that 2017 was a year of upheaval for the Consumer Financial Protection Bureau is putting it mildly.
Could Blockchains Replace Banks in Real Estate Lending
National Mortgage News, Jan. 2, 2018–Penny Crosman (subscription)Real estate deals on a blockchain are becoming real. The startup Propy recently sold an apartment in the Ukraine through its blockchain, and in the last week of December it began letting Californians buy and sell properties on its blockchain using bitcoin.
U.S. Bank Becomes Latest Bank to Increase Wages, Hand out Bonuses After Tax Reform
HousingWire, Jan. 2, 2018–Ben LaneU.S. Bancorp, the parent company of U.S. Bank announced Tuesday that it is handing out a $1,000 bonus to nearly 60,000 employees. The bank also plans to increase its minimum wage for all hourly employees to $15 per hour.
Record Low for Weekly Mortgage Business
Mortgage Daily, Jan. 2, 2018Mortgage business went out with a whimper in 2017, with new activity during the final week–which included Christmas–plunging to the lowest level since tracking began.
Wholesale Lenders Promote Non-QM, Alt-A Programs
Mortgage Daily, Jan. 2, 2018–Sam GarciaSeveral wholesale mortgage lenders are now offering Non-QM programs. Other recently announced offerings include Alt-A, jumbo and nonprime programs.