National Mortgage News, Sept. 27, 2017–Bonnie Sinnock (subscription)Ginnie Mae pledged to vet issuers more thoroughly after a government watchdog criticized its exposure to risks posed by nonbanks.
Category: Top National News
CFPB Issues Order Over RESPA Violations
Mortgage Daily, Sept. 27, 2017On Wednesday, the Consumer Financial Protection Bureau issued a consent order against Meridian Title Corp. for alleged violations of the Real Estate Settlement Procedures Act. The bureau claims that the South Bend, Indiana-based firm steered consumers to a title insurer owned in part by several of its executives.
Navy FCU Marketing 5/5 ARM
Mortgage Daily, Sept. 27, 2017According to the Vienna, Virginia-based firm, the loans will be pooled into Fannie Mae mortgage-backed securities. Since 2015, Navy Federal reports 5/5 ARM production has grown by 11 percent.
Fed’s Bullard Sees No Need to Raise Interest Rates Anytime Soon
MarketWatch, Sept 27, 2017–Greg RobbThe economy is likely to remain on a slow-growth track with subdued inflation, meaning the Federal Reserve can hold interest rates steady, St. Louis Fed President James Bullard said Wednesday.
How Capital Stack Dynamics Contribute to Today’s Challenges to Multifamily Developers
National Real Estate Investor, Sept. 26, 2017–Kevin FarrellWhile almost anyone investing in apartments prospered during the recent boom, the players that will succeed during this cycle shift will be experienced teams.
Lennar Unveils Mortgages That Help Cut Student Debt
Builder Magazine, Sept. 26, 2017Lennar Corp.’s Eagle Home Mortgage unit unveiled a mortgage program with a feature that helps pay off outstanding student loans–up to $13,000, depending on sales price.
Mortgage Lending Restrictions are Easing Say Lenders
Mortgage Professional America, Sept. 26, 2017–Steve RandallA larger share of lenders say that they have eased lending restrictions in the third quarter of 2017.
Janet Yellen Says Fed Plans to Keep Raising Rates
New York Times, Sept. 26, 2017–Binyamin ApplebaumFederal Reserve Chairwoman Janet Yellen said on Tuesday the Fed plans to continue raising its benchmark interest rate despite some uncertainty about the reasons that inflation had weakened in recent months.
New Post-Crisis Low for Freddie’s Delinquency
Mortgage Daily, Sept. 26, 2017Freddie Mac’s book of business grew from a month earlier, when it stood at $2.0439 trillion. It was also up from a year earlier, when it was $1.9795 trillion.
Commercial and Multifamily Mortgage Delinquency Rates Remain Flat
National Mortgage Professional, Sept. 26, 2017–Phil HallDelinquency rates for commercial and multifamily mortgages were mostly stagnant during the second quarter, according to new data from the Mortgage Bankers Association.