Washington Post, Sept. 7, 2017–Craig Timberg, Elizabeth Dwoskin, Brian FungCredit reporting agency Equifax said Thursday that hackers gained access to sensitive personal data–Social Security numbers, birth dates and home addresses–for up to 143 million Americans, a major cybersecurity breach at a firm that serves as one of the three major clearinghouses for Americans’ credit histories.
Category: Top National News
Lower Mortgage Rates Push More Borrowers to Refinance, as Harvey Mucks up the Data
CNBC, Sept. 6, 2017–Diana OlickMortgage applications finally moved slightly higher last week, spurred by refinancers, as interest rates moved decisively lower. Total mortgage application volume increased 3.3 percent, from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report.
Here’s How Veterans are Impacted by the Shortage of VA-Approved Appraisers
HousingWire, Sept. 6, 2017–Brena SwansonDue to the unique characteristics of loans from the U.S. Department of Veterans Affairs, the Mortgage Bankers Association wrote a letter to the department to explain how a shortage of VA-approved appraisals can severely impact borrowers.
Trade Groups Urge Senate to Vote on Patanaude’s HUD Nomination
National Mortgage Professional, Sept. 6, 2017–Phil HallA coalition of nearly 60 housing, real estate and consumer trade groups have called on the Senate leadership to prioritize a vote on Pam Patanaude as Deputy Secretary of HUD.
High-End Manhattan Apartment Sales Are Soft
Wall Street Journal, Sept. 6, 2017–Josh Barbanel (subscription)Stribling Private Brokerage said contracts signed on Manhattan listings of $5 million or more have been sliding since May compared with recent years, after showing signs of recovery earlier this year.
How Ginnie Mae Will Aid Issuers Affected by Hurricane Harvey
National Mortgage News, Sept. 6, 2017–Bonnie Sinnock (subscription)Ginnie Mae is preparing to give servicing assistance to issuers affected by Hurricane Harvey if more than 5% of their portfolio is in a federal disaster area.
Does Your Mortgage Technology Measure Up?
HousingWire, Sept. 6, 2017–Kristin Messerli, Dave SavageToday’s consumers are accustomed to making instant banking transactions and home searches from the palms of their hands, and they expect this kind of ease of use across industries. Automation and digital mortgages are the newest technologies disrupting the mortgage industry.
Vice Chair’s Departure Won’t Shake the Fed
Bloomberg, Sept. 6, 2017–Daniel MossStanley Fischer’s departure from the Federal Reserve is an opportunity to salute his career, though not one for deep concern about the institution for which he was second in command.
Non-QM Loans Pay Well, Though Higher Prepayments
Mortgage Daily, Sept. 6, 2017Origination and securitization of loans that don’t meet Qualified Mortgage requirements has been expanding, and performance is strong. But higher rates are leading to higher prepayments.
Buyers Sought for MSRs on $430 Mil in Agency Loans
Mortgage Daily, Sept. 6, 2017The offering involves MSRs on 1,888 Ginnie Mae single-family loans that have a collective unpaid principal balance of $424 million.