Reuters, Nov. 6, 2017–Lindsay DunsmuirLoan officers at U.S. banks reported easing standards for business loans while terms for commercial real estate loans remained unchanged, a Federal Reserve quarterly survey showed on Monday.
Category: Top National News
FHA’s Endorsements Solidly Higher
Mortgage Daily, Nov. 6, 2017Residential endorsements jumped to the highest level in seven months at FHA, while commercial real estate activity was the highest in at least four years. Delinquency worsened, however.
Mixed Results at Ocwen as Servicing Diminishes
Mortgage Daily, Nov. 6, 2017Ocwen Financial Corp. reported growth in mortgage assets and improvement in delinquency. Servicing, however, declined, while losses continued, and originations were mixed.
Senate Tax Bill Likely to Keep $1 Million Mortgage Cap
Bloomberg, Nov. 6, 2017–Laura LitvanSenate tax writers are planning on keeping the mortgage interest deduction limit at $1 million, unlike the House legislation released last week that set a cap of $500,000 for new home sales.
Freddie Mac Warns Lenders About Selling System Outage
National Mortgage News, Nov. 6, 2017–Bonnie Sinnock (subscription)Users were having trouble accessing Freddie Mac’s selling system Monday afternoon, according to an alert issued by the government-sponsored enterprise.
What Happens to FHA Lending if the DOJ Eases Enforcement?
HousingWire, Nov. 6, 2017–Brena SwansonWhat this potential change means for smaller players in the FHA lending space if the big banks jump back in remains to be seen, but regardless, FHA lenders could soon be operating in a whole new world.
CRE Economists Say New Fed Chair Nominee Not Likely to Rattle the Market
National Real Estate Investor, Nov. 6, 2017–Mary DiduchPresident Donald Trump last Thursday nominated Federal Reserve governor Jerome Powell as the central bank’s new chairman. Real estate economists do not expect Powell to force dramatic changes in monetary policy.
MBA Weighs in on GOP Tax Plan
Scotsman Guide, Nov. 3, 2017–Victor WhitmanThe Mortgage Bankers Association expressed reservations about how the House GOP plan addresses the mortgage-interest deduction and other housing incentives. House Republicans rolled out a sweeping bill in the House Ways and Means Committee on Thursday.
Industry Heads Agree on Explicit Government Guarantee for Fannie and Freddie
Mortgage News Daily, Nov. 3, 2017–Jann SwansonMBA President and CEO David Stevens said calls to simply recapitalize the GSEs and allow them to operate without structural changes are misguided. Such plans could be reversed by future FHFA directors and “likely embolden those who seek private profit at the expense of sound public policy.”
Cohn Says New Mortgage Deduction Limit Won’t Hurt Housing Market
Bloomberg, Nov. 3, 2017–Alex LeondisWhite House Economic Adviser Gary Cohn said “The ability to deduct interest is a component that allows you to buy a bigger house, not what drives you to buy a house.”