Category: Top National News

Mortgage Daily, Oct. 18, 2017Freddie Mac’s underwriting guidelines require that a new appraisal is obtained when the settlement date is more than 120 days after the note date. But in an effort to streamline appraisal policies, the McLean, Va.-based government-sponsored enterprise is eliminating that requirement.

National Mortgage News, Oct. 18, 2017–Elina Tarkazikis (subscription)The percentage of refinance loans rose to 38% in September as interest rates dipped to their lowest level in 2017, according to Ellie Mae’s Origination Insight Report. Last month, refinances comprised 35% of total loans.

HousingWire, Oct. 18, 2017–Brena SwansonA push towards embracing alternative credit scoring models has gained steam in recent years, and as the discussion starts to grow, VantageScore Solutions, the company behind the VantageScore credit scoring models, plans to be right at the forefront of it.

DSNews, Oct. 19, 2017September saw a rise in mortgage delinquencies, mainly as a result of hurricane impact, to 4.40 percent according to Black Knight.

Wall Street Journal, Oct. 18, 2017–Sharon Nunn, Sarah Chaney (subscription)The pace of growth was split between moderate and modest among the Fed’s 12 districts, the central bank said Wednesday in its latest gathering of anecdotal information about regional economic conditions, known as the beige book.

National Mortgage News, Oct. 18, 2017–John Heltman (subscription)The Consumer Financial Protection Bureau released non-binding principles Wednesday for third parties that use consumer financial data to help guide the development of innovative but safe fintech solutions.

Reuters, Oct. 19, 2017–David MorganThe budget resolution contains a legislative tool called reconciliation, which would enable Republicans, who control the 100-seat Senate by a 52-48 margin, to move tax legislation through the Senate on a simple majority vote. Otherwise, tax reform would need 60 votes and would likely fail.

Wall Street Journal, Oct. 17, 2017–Peter Grant (subscription)Much of the capital behind the mixed-use project on Manhattan’s far west side is foreign.

HousingWire, Oct. 17, 2017–Brena SwansonAs the debate around what tax reform looks like heightens, the Mortgage Bankers Association is jumping in on the conversation, saying that they support the opportunity for comprehensive tax reform.

Wall Street Journal, Oct. 17, 2017–Esther Fung (subscription)The U.S. has far too many malls scrambling to attract consumers at a time when online shopping is tightening its grip. That doesn’t mean middling malls will die quickly, however.