Category: Top National News

Mortgage Daily, Dec. 21, 2017Despite a small improvement in the foreclosure rate, overall mortgage delinquency jumped as the hurricanes took a toll. Serious mortgage delinquency rose more than in any month since the financial crisis, said Black Knight.

Mortgage Daily, Dec. 21, 2017After ascending to the highest level this year, monthly secondary activity moved even higher at Freddie Mac. Serious mortgage delinquency, however, deteriorated.

Reuters, Dec. 21, 2017–Lucia MutikaniThe U.S. economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending, and is poised for what could be a modest lift next year from sweeping tax cuts passed by Congress this week.

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.