Mortgage Daily, Nov. 8, 2017In its third-quarter earnings report, parent PHH Corp. disclosed a $78 million loss before income taxes for the three months that concluded on Sept. 30.
Category: Top National News
Impac’s Lending, Servicing Rise as Earnings Plunge
Mortgage Daily, Nov. 8, 2017Impac Mortgage Holdings Inc. expanded its servicing portfolio and had a quarter-over-quarter gain in originations. But earnings deteriorated.
Powell Senate Confirmation Hearing Set for Nov. 28, Panel Says
Wall Street Journal, Nov. 8, 2017–Kate Davidson (subscription)The Senate Banking Committee will meet Nov. 28 to consider the nomination of Federal Reserve Governor Jerome Powell to be the next central bank chairman, the panel announced Wednesday.
CFPB Sues Largest Debt Settlement Firm
National Mortgage News, Nov. 8, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Wednesday against Freedom Debt Relief, the nation’s largest debt-settlement services provider, and its co-CEO Andrew Housser for allegedly deceiving consumers.
Meet Two Professionals on the Forefront of Pushing the Industry Forward
Mortgage Professional America, Nov. 7, 2017–Justin da RosaEarlier this year, the Mortgage Bankers Association launched mPact – a network for young professionals in the real estate industry. Ashley Gunn and Jordan Bucher of MBA discuss the program.
MBA: Mortgage Credit Availability Decreased in October
Mortgage Orb, Nov. 7, 2017–Patrick BarnardMortgage credit availability decreased 0.2% in October compared with September and fell to a score of 181.0 on the Mortgage Bankers Association’s Mortgage Credit Availability Index.
Millennial Home Buyers Send a Chill Through Rental Markets
Wall Street Journal, Nov. 7, 2017–Peter Grant, Laura KusistoRising homeownership is adding to the jitters in the residential rental market, which has slumped recently after a long stretch near the top of the commercial real estate industry.
Optimism About Housing Market Dampened by End of Buying Season
National Mortgage News, Nov. 7, 2017–Brad Finkelstein (subscription)With the end of the summer home buying season, consumers were less optimistic that it was a good time to purchase or sell a home in October.
FICO: How to Serve the Credit-Invisible Even if the GSEs Don’t Change Credit-Scoring Models
HousingWire, Nov. 7, 2017–Brena SwansonWhile changes to the government-sponsored enterprises’ credit scoring models, at the earliest, are expected to happen in the second half of 2019, this leaves the credit invisible market in a lurch when it comes to buying a home until then.
Tax Plan Seen Boosting U.S. Growth a Bit While Denting Housing
Bloomberg, Nov. 7, 2017–Steve Matthews, Catarina SaraivaPresident Donald Trump’s planned tax overhaul is likely to boost U.S. economic growth by about a quarter percentage point in 2018, yet it will also dent demand for housing and fail to lower the chances of a recession, according to a Bloomberg News survey.