Category: Top National News

The Hill, Oct. 25, 2017–Vicki NeedhamDavid Stevens, who joined MBA in May 2011, will leave the association Sept. 30, 2018 after steering the group through the rocky post-financial-crisis era when mortgage bankers were under fire for shoddy lending practices.

HousingWire, Oct. 25, 2017–Brena SwansonAfter stepping away from the mortgage side of the business back in 2012, Ally Financial is showing steady progress back into the space as it develops its mortgage business.

Mortgage Daily, Oct. 25, 2017MBA’s statement highlighted how David Stevens’ leadership restored MBA to its strongest financial health in its 104-year history. Membership growth has reportedly surpassed expectations each year during his tenure.

Mortgage Daily, Oct. 25, 2017As rising rates and a tight housing supply have hurt mortgage earnings at HomeStreet Inc., the company has taken steps to reduce the size of its home-lending business.

National Mortgage News, Oct. 25, 2017–Kate Berry (subscription)The Senate’s razor slim vote to repeal the Consumer Financial Protection Bureau’s arbitration rule was arguably the industry’s biggest policymaking victory since passage of the Dodd-Frank Act. But does it mean the regulatory tide has turned in banks’ favor? Many are skeptical.

HousingWire, Oct. 25, 2017–Ben LaneThe nonbank could soon only have one active lending channel, as the company disclosed this week that it is considering selling off more pieces of its lending business.

Mortgage Orb, Oct. 25, 2017–Patrick BarnardThe GSEs have been exploring the use of alternative credit scoring models as a means to give more self-employed or “credit invisible” consumers access to mortgage loans. This can include consumers who have income from nontraditional sources or who hold significant assets but are not traditional W-2 wage earners.

Urban Institute, Oct. 25, 2017–Bing Bai, Edward GoldingAre we in a housing bubble? Whenever house prices increase faster than general inflation for a year or two, we hear that question more often. Can the market sustain the new higher price, or has something artificially or temporarily inflated these prices?

Wall Street Journal, Oct. 26, 2017–Ryan Tracy, Yuka Hayashi (subscription)Keith Noreika, the first banking regulator installed by the Trump administration, isn’t bound by the usual curbs on lobbying the agency he now leads, the Office of the Comptroller of the Currency, if he returns to the private sector.

Wall Street Journal, Oct. 25, 2017–Bart Higgins (subscription)Just when you think you have a handle on the brick-and-mortar retail crisis, the prognosis gets worse. More than 8,600 stores will close their doors in 2017, according to Credit Suisse analysts-a number that exceeds store closures during 2008, when America was in recession.