HousingWire, Nov. 29, 2017–Ben LaneIn total, Altisource acquired 3,465 rental homes from Amherst under the deal the two companies signed back in March. The total sale price for the properties is $534.9 million.
Category: Top National News
Senate Banking Committee Votes Yes on Brian Montgomery Nomination
DS News, Nov. 28, 2017–David WhartonThe Senate Banking Committee approved Brian Montgomery’s nomination as FHA Commissioner on Tuesday, sending his name to the full Senate for approval.
Proposed Tax Change Could Hurt Mortgage Servicers, Groups Warn
National Mortgage News, Nov. 28, 2017–Bonnie Sinnock (subscription)Servicers may need to pay taxes on their income upfront under the proposed Senate tax bill, according to the Mortgage Bankers Association and the Consumer Mortgage Coalition.
Wells Fargo, U.S. Bancorp See Rare Growth In Mortgage Servicing Portfolios
Forbes, Nov. 28, 2017–TrefisWells Fargo joined its smaller rival U.S. Bancorp to report a sequential improvement in its total mortgage servicing portfolio for the third quarter, making this the first time in more than four years that two of the nation’s five largest banks bucked the industry-wide trend of quarter-on-quarter declines in this figure.
Lean In, Homebuyers: Survey Says Lenders Loosening Mortgage Standards
Chicago Tribune, Nov. 28, 2017–Kenneth R. HarneyA recent survey of banks and mortgage companies by giant investor Fannie Mae found that a record number of lenders report that they have relaxed at least some requirements for mortgage clients.
Affordable-Housing Industry Braces for GOP Tax Overhaul
Wall Street Journal, Nov. 28, 2017–Peter Grant (subscription)Analysts worry that rehabilitation of older projects could grind to a halt if lucrative tax breaks are removed.
FHFA Increases Conforming Loan Limits for 2nd Straight Year
HousingWire, Nov. 28, 2017–Ben LaneThe Federal Housing Finance Agency announced Tuesday that it is increasing the conforming loan limits from $424,100 to $453,100 for 2018.
GOP Tax Plan Heads to Senate Floor for Vote Likely This Week
Bloomberg, Nov. 28, 2017–Erik WassonThe Senate Budget Committee sent Republicans’ massive tax-cut bill to the full Senate for a marathon debate and vote as early as Thursday — a major step toward getting a plan enacted by the end of this year.
Fastest Growing Home Lender Cutting Maryland Jobs
Mortgage Daily, Nov. 28, 2017In a filing Monday with the Maryland Department of Labor, Licensing and Regulation, FGMC indicated that it is eliminating 82 jobs in Frederick, Md.
Court Sides with Trump in Consumer Agency Fight
The Hill, Nov. 28, 2017–Sylvan LaneA federal judge on Tuesday rejected a lawsuit from an official who claims that she, and not President Trump appointee Mick Mulvaney, is the rightful director of the Consumer Financial Protection Bureau.