Category: Top National News

Mortgage Daily, Oct. 13, 2017–Sam GarciaAmong three third-party mortgage originators that are closing is an Ocwen Financial Corp. unit. Multiple credit unions failed over this past summer.

Wall Street Journal, Oct. 16, 2017–Laura Kusisto (subscription)The debate over diminishing the tax incentive for homeownership has created a rift between two powerful trade groups representing real-estate brokers and home builders.

Wall Street Journal, Oct. 16, 2017–Laura Kusisto (subscription)The tax-overhaul plan being negotiated in Washington has the potential to virtually eliminate a break lawmakers once considered untouchable: the mortgage interest deduction.

HousingWire, Oct. 12, 2017–Ben LaneThe government’s proclivity to use the False Claims Act as a weapon against mortgage lenders could soon be coming to an end, Department of Housing and Urban Development Secretary Ben Carson told members of Congress on Thursday. Mortgage Bankers Association President and CEO David Stevens has said the government’s “misuse” of the False Claims Act is driving lenders away from FHA lending.

National Mortgage News, Oct. 12, 2017–Brian Collins (subscription)The Federal Housing Administration forward mortgage program is “doing extremely well,” and recent changes to its reverse mortgage program “will stop the bleeding” in losses to the agency, Housing and Urban Development Secretary Ben Carson said Thursday.

Washington Post, Oct. 12, 2017–Kathy OrtonAfter a month of incremental increases, fixed mortgage rates took their biggest leap since this summer. “Data released last week, on balance, suggested continued strong economic growth,” said Joel Kan, a Mortgage Bankers Association economist. “In combination with hawkish comments from some Fed officials, this pushed rates up.”

Mortgage News Daily, Oct. 12, 2017–Jann SwansonThe Mortgage Bankers Association said a significant decline in new home sales occurred last month. However, like much of the other September housing data that has been released so far, it appears that Hurricanes Harvey and Irma are behind much of the downturn.

Reuters, Oct. 12, 2017–Olivia OranGoldman Sachs Group Inc has agreed to buy private mortgage lender Genesis Capital LLC as the Wall Street bank looks to new businesses for growth while trading revenue remains sluggish.

Associated Press, Oct. 12, 2017Nevada’s two U.S. senators want mortgage payment relief for family members of victims of the Las Vegas massacre as they deal with medical and funeral costs.

The Mortgage Reports, Oct. 12, 2017–Peter G. MillerSome great mortgage programs are available only to first-time homebuyers. But that’s not the whole story.