Bloomberg, Nov. 20, 2017–Shobhana Chandra; Vince Golle; Jordan YadooFaster apartment building was instrumental in pulling the U.S. housing market out of its slump a decade ago. Now, that engine is starting to throttle back.
Category: Top National News
Mobile Homes Are So Expensive Now, Hurricane Victims Can’t Afford Them
Bloomberg, Nov. 21, 2017–Prashant GopalHurricane victims emerging from ravaged trailer parks are discovering that the U.S. mobile-home market has left them behind.
First-Time Buyer Market to Surpass Overall Housing Pace in 2018
National Mortgage News, Nov. 17, 2017–Elina Tarkazikis (subscription)Over half of mortgage industry executives surveyed anticipate first-time home buyer growth in 2018, estimating that market will grow at a faster pace than the overall housing market.
Housing Starts Bounce Back Strongly
Wall Street Journal, Nov. 17, 2017–Laura Kusisto; Sarah Chaney (subscription)U.S. housing starts rose last month to the highest level in a year, a sign that builders are getting back on track after hurricanes lashed the southeast and dampened residential construction activity in September.
Two Weeks of Frenzied Negotiations Led to Bank-Relief Deal
Wall Street Journal, Nov. 17, 2017–Andrew Ackerman (subscription)Moderate Democrats worked with the GOP on a plan to roll back parts of the Dodd-Frank law. The deal, announced last Monday, marked the first significant bipartisan agreement to relieve small and regional lenders from a number of restrictions of the 2010 Dodd-Frank financial-overhaul law.
Refis Gain Activity Share as Mortgage App Volume Increases
Mortgage Professional America, Nov. 17, 2017–Francis MonfortThe volume of mortgage loan applications increased during the week ending Nov. 10, according to the Weekly Mortgage Applications Survey released by the Mortgage Bankers Association.
Consumer Chief Fired by Wells Fargo
Mortgage Daily, Nov. 17, 2017In a statement Friday, the San Francisco-based bank-holding company said Franklin Codel was immediately dismissed as a result of acting in a manner contrary to company policies and expectations for senior leaders. The behavior occurred during a communication with a former employee about that team member’s termination.
Mortgage Delinquency Soars, Hurricanes Blamed
Mortgage Daily, Nov. 17, 2017Single-family loans that were at least 30 days late or in the foreclosure inventory accounted for 6.11 percent of all outstanding mortgages as of Sept. 30, the Mortgage Bankers Association reported.
Softening the Blow From a Disaster
UExpress, Nov. 17, 2017–Lew SichelmanMost people are unaware that they can cut their tax bills if their homes are damaged during a disaster such as the Northern California fires, or the hurricanes that blasted the Gulf Coast, much of Florida and all of Puerto Rico. But they can do so, if they are proactive.
GSEs Return to LIHTC Market
National Mortgage Professional, Nov. 17, 2017–Phil HallThe Federal Housing Finance Agency is shifting its policy by enabling Fannie Mae and Freddie Mac to re-enter the Low Income Housing Tax Credit market as equity investors on a limited basis. (MBA mention)