Category: Top National News

CNBC, Nov. 29, 2017–Diana OlickIn a week that saw no change in interest rates and a holiday tacked onto the end, mortgage volume really had nowhere to go but down. Total applications fell 3.1 percent for the week, according to the Mortgage Bankers Association.

HousingWire, Nov. 29, 2017–Ben LaneRoundPoint announced Wednesday that it recently launched a retail mortgage lending division, which is licensed in 42 states.

National Mortgage News, Nov. 29, 2017–Brian Collins (subscription)Brian Montgomery seems well on his way to being confirmed to serve a second stint as the Federal Housing Administration commissioner. But once he gets to the FHA, Montgomery may find it more difficult to be as innovative under the Trump administration as he was when he was commissioner under President George W. Bush.

HousingWire, Nov. 29, 2017–Ben LaneShellpoint is the parent company of several subsidiaries, including mortgage lender New Penn Financial, Shellpoint Mortgage Servicing, title and settlement services provider Avenue 365, and eStreet, an appraisal management company.

Reuters, Nov. 29, 2017–Lucia MutikaniThe U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories.

Mortgage Daily, Nov. 29, 2017The parent of Peoples Bank, Peoples Inc., was acquired by National Bank Holdings Corp. As a result of the acquisition, it is shuttering its national mortgage business by the end of next month and laying off 62 Michigan employees.

Mortgage Daily, Nov. 29, 2017Flagstar Bank will now accept eNotes in order to fund its warehouse lending transactions. According to the Troy, Mich.-based company, once the eWarehouse line is requested and approved, an eNote is instantly delivered to Flagstar’s eVault and registered with MERS.

National Mortgage Professional, Nov. 29, 2017–Phil Hall”This provision would have severe, unintended consequences resulting in higher costs for borrowers and diminished access to credit, caused when servicers of all shapes and sizes are forced to exit the business because they can’t, or won’t, operate under this new rule,” said MBA President and CEO David Stevens.

Bloomberg, Nov. 29, 2017–Vincent Del Guidice, Wei LuAssuming a 20 percent down payment, the three states together are estimated to have more than 80,000 homes currently listed for sale where the mortgage could reach at least $500,000, the limit laid out for new home sales in the House Republican tax plan. In California, that’s 44 percent of homes on the market.

National Mortgage News, Nov. 29, 2017–Ian McKendry (subscription)As the Senate launched into debate on tax reform Wednesday, a still-unanswered question was whether lawmakers will address a potentially huge negative consequence for Fannie Mae and Freddie Mac.