National Mortgage News, Sept. 22, 2017–Bonnie Sinnock (subscription)The share of origination volume that comes from refinancing keeps coming in higher than expected, but a Freddie Mac forecast suggests it could really run out of steam next year.
Category: Top National News
Mortgage Firms Keep Up With Mobile Adoption
Mortgage Daily, Sept. 22, 2017–Sam GarciaAs more data emerges confirming the continued adoption of mobile technology in financial services, home lenders and service providers are capitalizing on the trend.
Leveraged Loans Are Back and on Pace to Top Pre-Financial Crisis Records
Wall Street Journal, Sept. 24, 2017–Christopher Whittal (subscription)Lending to the most highly indebted companies in the U.S. and Europe is surging, a development that investors worry could pressure financial markets if the global economic expansion starts to fade.
Bankers on High Alert for Liquidity Risk as 3Q Draws to Close
National Mortgage News, Sept. 22, 2017–Andy Peters (subscription)The first signs of a possible liquidity tightening surfaced last quarter. If they continue when banks report third-quarter results in a few weeks, lenders may have to swing into action to ensure they have adequate funding to sustain their growing efforts in consumer lending and as they await a pickup in commercial lending.
Are You Ready for the GSEs’ New UCD Mandate?
HousingWire, Sept. 22, 2017–David ParkerFannie Mae and Freddie Mac’s Uniform Closing Dataset requirement deadline of Sept. 25 is mere days away.
Bankruptcy Ruling Benefits Foreclosing Parties
Mortgage Daily, Sept. 22, 2017–Laura N. Coughlin, T. Robert FinlayThe 9th Circuit Court of Appeals has barred claims due to the borrower’s failure to amend include the claims in their bankruptcy schedules.
SolarCity Agrees to Pay $29.5 Million to Settle Allegations of Lying to Government
HousingWire, Sept. 22, 2017–Ben LaneSolarCity, the solar energy company that was acquired by Tesla last year, will pay $29.5 million as part of a settlement with the government, which accused the company of lying to the government about the costs of solar energy systems.
Mortgage Rates Resume Climb After Nearly Two-Month Descent
Washington Post, Sept. 21, 2017–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average increased to 3.83 percent with an average 0.5 point. (MBA mention)
As the Fed Steps Back From Mortgage Market, REITs Gear Up to Buy
Bloomberg, Sept. 21, 2017–Claire BostonMany fund managers are fearful about the Federal Reserve shedding its massive $1.78 trillion mortgage bond portfolio, a step it plans to start next month. Some investors say it’s time to get greedy. Some mortgage bond fund managers known as real estate investment trusts have been raising cash at their fastest pace since 2013, giving them enough new capacity to buy more than $30 billion of the securities.
Lawmakers to Grill Equifax, Wells CEOs in Busy Week of Hearings
National Mortgage News, Sept. 21, 2017–Ian McKendry (subscription)Equifax CEO Richard Smith and Wells Fargo CEO Tim Sloan are scheduled to testify on major operational breakdowns at both companies before Senate lawmakers during the first week of October.