Category: Top National News

Associated Press, Jan. 11, 2018The bill’s sponsors–Sens. Elizabeth Warren, D-Mass., and Thom Tillis, R-N.C.–said Thursday the goal is to protect veterans, particularly those who purchase homes through a U.S. Department of Veteran’s Affairs home loan program.

Huffington Post, Jan. 11, 2018–Jack GuttentagOne intriguing approach has been suggested by Wayne Passmore and Alexander H. von Haften, economists at the Federal Reserve Board. Their central idea for encouraging more rapid equity growth is to trade off the borrower’s right to refinance when interest rates fall, which imposes a heavy cost on lenders, for larger principal payments.

National Mortgage News, Jan. 11, 2018–Brad Finkelstein (subscription)There was an 18% drop in mortgage applications to purchase a new home in December from November, according to the Mortgage Bankers Association’s Builder Application Survey. But on a year-over-year basis, application volume improved by 7.8%.

HousingWire, Jan. 11, 2018–Ben LaneMary Ann McGarry, president and CEO of Guild, said the acquisition fits with Guild’s strategic plan to “grow in existing markets and also acquire firms with a strong presence in new markets and proven histories of exemplary customer service and entrepreneurial cultures.”

Reuters, Jan. 11, 2018–Siddharth CavaleWal-Mart reported that Sam’s Club was closing 63 stores and laying off thousands of workers.

Mortgage Daily, Jan. 11, 2018TD Bank said Rick Bechtel has been appointed executive vice president and head of U.S. mortgage banking.

National Mortgage News, Jan. 11, 2018–Brian Collins (subscription)Adolfo Marzol, a top official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold.

National Real Estate Investor, Jan. 11, 2018–Mary Diduch The office sector continues to slow, industry analysts say. Insiders offered their opinions on where the sector is heading in 2018.

CNBC, Jan. 10, 2018–Diana OlickTotal application volume rose 8.3 percent during the first week of the year from the previous week, as mortgage rates held below year-ago levels, according to the seasonally adjusted Mortgage Bankers Association report.

Mortgage Orb, Jan. 10,2018–Mark CollinsMortgage servicers have set up a very complicated system that attempts to get taxes paid on time and allows them time to perform research on exceptions. This fragile system of timing tax payments has now collided with the new tax laws introduced just before the end of 2017, which threw a wrinkle into this already delicate framework.