National Real Estate Investor, Oct. 13, 2017–Donna Mitchell The two schools of thought on retail store closures seem very far apart.
Category: Top National News
Equifax’s Grip on Mortgage Data Squeezes Smaller Rivals
New York Times, Oct. 13, 2017–Gretchen MorgensonLike it or not, when you apply for a home mortgage or to refinance an existing loan, Equifax will be a part of the process.
CFPB’s Enforcement Chief to Leave
National Mortgage News, Oct. 13, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau said Friday that its enforcement chief, Anthony Alexis, plans to leave the agency after more than five and a half years.
Vulnerabilities in Equifax’s The Work Number Raise New Security Doubts
National Mortgage News, Oct. 13, 2017–Bonnie Sinnock, Austin Kilgore (subscription)Recently exposed security vulnerabilities in an Equifax tool used extensively in the mortgage industry are raising new questions about the reliability and veracity of the beleaguered credit bureau’s employment verification service.
‘Duty to Serve’ Helps Borrowers
UExpress, Oct. 13, 2017–Lew SichelmanFederal mortgage agencies Fannie Mae and Freddie Mac have long been tasked by Congress with serving areas that don’t get much attention from the private sector. And that could help you get a home loan.
MGIC Improves M.I. Pricing
Mortgage Daily, Oct. 13, 2017Changes being made by Mortgage Guaranty Insurance Corp. will result in improved prices on mortgage insurance premiums for some borrowers.
Ocwen Unit Among Recent 3rd-Party Lenders to Close
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.
Housing Groups Spar Over Mortgage Deduction
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.
GOP Tax Plan Would Keep the Mortgage Break But Threaten Irrelevancy
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.
Carson: Government Considering Ending Use of False Claims Act Against FHA Lenders
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.