Category: Top National News

The Hill, Dec. 21, 2017–Sylvan LaneThe Consumer Financial Protection Bureau will no longer assess penalties against mortgage lenders and banks for errors collected in data next year that is subject to the Home Mortgage Disclosure Act. The bureau also won’t ask for lenders to resubmit such data if errors aren’t “material” to the information provided. The CFPB also said it would begin the process of making a rule to revise parts of the CFPB’s 2015 rule regarding HMDA.

Bloomberg, Dec. 22, 2017–Katia DmitrievaAmerica’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.

The Hill, Dec. 20, 2017–Naomi Jagoda, Cristina MarcosRepublicans in the House have given final approval to the biggest changes to the tax code in decades, sending the package to President Trump and completing their first big legislative achievement since taking across-the-board control of the government this year.

CNBC, Dec. 20, 2017–Diana OlickSomething spooked homebuyers last week, and it wasn’t interest rates, because they fell. Even refinancers retrenched. Total mortgage application volume dropped 4.9 percent from the previous week, according to the Mortgage Bankers Association.

HousingWire, Dec. 20, 2017–Ben LaneA recent report from CoreLogic showed that mortgage delinquencies fell this year to the lowest point in more than a decade, but analysts from TransUnion expect mortgage performance to continue improving next year, leading to record lows in mortgage delinquencies.

Mortgage Orb, Dec. 21, Patrick BarnardDuring the Mortgage Bankers Association’s Annual Convention & Expo in October, MBA officials made a bold prediction that non-QM lending would double in 2018. That’s in part because investor appetite for these loans is growing.

National Mortgage News, Dec. 20, 2017–Bonnie Sinnock (subscription)Updated dynamic and interactive versions of Fannie Mae and Freddie Mac’s redesigned Uniform Residential Loan Application are out.

Mortgage Daily, Dec. 20, 2017Compared to a year ago, average credit scores have declined, average loan-to-value ratios have increased and average debt-to-income ratios have risen, said Ellie Mae.

Scotsman Guide, Dec. 20, 2017–Victor WhitmanLarge lobbying groups, such as the National Association of Home Builders and the Mortgage Bankers Association, which were initially skeptical of the GOP tax-reform plans, both issued statements on Tuesday in support of the tax bill.

HousingWire, Dec. 20, 2017–Jacob GaffneyNow Alexa can make your Quicken Loans Rocket Mortgage payment for you, quickly and securely. And, to be sure, Alexa isn’t limited to Prime membership–Quicken customers can use Alexa without Prime membership–however, Amazon’s voice recognition services are better realized with a Prime membership.