Mortgage Daily, Nov. 13, 2017Paramount Financial has been approved to become a bank-holding company. As part of the transformation, it will acquire Superior Bank in Hazelwood, Mo.
Category: Top National News

Mortgage Subsidies Take Center Stage in Tax Debate
Scotsman Guide, Nov. 13, 2017–Victor WhitmanIn a letter to leaders of the Senate Committee on Finance, MBA President David Stevens praised that the plan preserves the interest deduction with the current $1 million cap on mortgage debt. MBA has issues, though, with its proposal to eliminate deductions on local property taxes, and also removes the interest deduction on home equity lines of credit.

Thousands of Groups Call on Congress to Use MID Savings for Low-Income Housing
HousingWire, Nov. 13, 2017–Kelsey RamirezA huge coalition featuring thousands of organizations, state and local governments, and elected officials joined together to call on Congress to use the savings derived from any changes to the mortgage interest deduction via the new tax reform bill to fund low-income housing.

MBS Issuance Slowest in 5 Months at Ginnie
Mortgage Daily, Nov. 13, 2017Securitizations on behalf of Ginnie Mae turned lower last month, falling to the slowest volume in five months. The weak performance came off of a record year.

Commercial Mortgage Loans Jump 8 Percent in Third Quarter
Financial Regulation News, Nov. 13, 2017–Dave KovaleskiCommercial and multifamily mortgage loan originations were up 8 percent in the third quarter, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

Mortgage Rates Quiet, Awaiting Tax Reform Outcome
Washington Post, Nov. 9, 2017–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 3.90 percent with an average 0.4 point. (MBA mention)

Senate GOP Plan Would Delay Corporate Tax Cut, Protect Mortgage Interest Deduction
Washington Post, Nov. 9, 2017–Damian Paletta, Mike DeBonisSenate Republicans are forging their own path on the effort to overhaul the U.S. tax code, preparing a plan that would delay President Trump’s top business priority and blow up House Republicans’ carefully crafted compromise on state and local tax deductions.

Digital Mortgages Advancing, But Borrowers Still Want More Speed
National Mortgage News, Nov. 9, 2017–Bonnie Sinnock (subscription)Despite digital mortgage advances, borrowers think it still takes too long to get a loan, J.D. Power finds in its annual customer satisfaction ranking of originators.

Selling a House to Millennials? Bring a Camera, and Fake Eyelashes
Wall Street Journal, Nov. 9, 2017–Emily Glazer (subscription)A wave of young buyers ask realtors to help coordinate elaborate post-closing photo shoots for social media.

Real Estate Tech Company Compass Raises $100 Million, Plans Massive Expansion
HousingWire, Nov. 9, 2017–Ben LaneCompass announced this week that it raised $100 million in its Series E investment round, which placed the company’s valuation at $1.8 billion.