Category: Top National News

Dallas Morning News, Nov. 7, 2017–Melissa RepkoBanking and financial services company Capital One Financial Corp. announced Tuesday that it will lay off about 950 people in Plano, Texas, as it exits the mortgage and home equity business and closes a call center.

Mortgage Daily, Nov. 7, 2017–Sam GarciaMike Roemer has been named chief compliance officer of Wells Fargo & Co., a statement last month said. He held the same position at is prior job with Barclays.

Mortgage Daily, Nov. 7, 2017Residential loan production slowed at Primary Residential Mortgage Inc., with the servicing portfolio trimmed and payroll reduced.

Scotsman Guide, Nov. 7 2017–Victor WhitmanNAHB’s housing tax-credit idea has gained support from the nation’s largest mortgage trade group, the Mortgage Bankers Association. MBA President David Stevens referenced it in a letter Monday to House Ways and Means Committee leaders.

HousingWire, Nov. 7, 2017–Brena SwansonAs the future of tax reform remains a hot-button issue, the Mortgage Bankers Association continues to stress the importance of the mortgage interest tax deduction to Congress.

Wall Street Journal, Nov. 8, 2017–Laura Kusisto (subscription)California’s biggest housing markets figure to be among the losers if a Republican-sponsored tax overhaul becomes law, according to two analyses of local market data.

National Mortgage News, Nov. 7, 2017–Brian Collins (subscription)The Federal Housing Administration’s financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.

HousingWire, Nov. 7, 2017–Ben LaneIn the third quarter, Zillow’s revenue rose 25% to a record $281.8 million from $224.6 million in the third quarter of 2016. The news as good all over the board for Zillow, as each of its segment’s saw revenue climb in the third quarter.

Washington Post, Nov. 6, 2017–Christopher IngrahamThe House Republican tax proposal would eliminate deductions for mortgages on second homes. This could have a significant impact on certain areas of the country where vacation and second homes make up a disproportionate chunk of the local housing market.

Bloomberg, Nov. 6, 2017–Matthew BoeslerFederal Reserve Bank of New York President William Dudley plans to retire in the middle of next year, signaling the departure of an influential, crisis-tested policy maker that will widen the leadership overhaul at the U.S. central bank.