HousingWire, Oct. 10, 2017–Brena SwansonA bipartisan group of Senators sent a letter to the U.S. Government Accountability Office, asking them evaluate America’s “troubling” housing market.
Category: Top National News
Trump Says Sets Measure to Punish Companies that Outsource
Reuters, Oct. 10, 2017–Makini BriceThe bill would provide economic incentives for companies, Trump said in an interview published on Tuesday, and reward firms that maintain jobs in the United States, and deliver punitive measures against those that move operations offshore.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Mortgage Daily, Oct. 10, 2017–Sam GarciaAmong the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
Quicken Loans 3rd Party Unit Using Calyx-Powered LOS
Mortgage Daily, Oct. 10, 2017A unit of Quicken Loans Inc. that originates through small financial institutions has turned to CalyxSoftware to power its loan origination system.
Standardizing the Mortgage Industry
MReport, Oct. 10, 2017–Rachel WilliamsData standardization has been a key area of focus for the GSEs through the Uniform Mortgage Data Program first introduced in 2010. On Tuesday, FHA Senior Policy Analyst in the Division of Housing Mission & Goals Nana Nkrumah released an FHFA Insights Blog into better understanding the program.
Fed Minutes Could Detail Views on Weak Inflation, Next Rate Rise
Wall Street Journal, Oct. 11, 2017–David Harrison (subscription)The Federal Reserve on Sept. 20, after a two-day policy meeting, left interest rates unchanged, penciled in one more rate increase this year, and said it would start the yearslong process of shrinking its $4.5 trillion portfolio of bonds and other assets.
Fannie and Freddie ‘Not Impacted’ by Deloitte Breach, GSEs Say
National Mortgage News, Oct. 10, 2017–Kate Berry (subscription)Fannie Mae and Freddie Mac were not impacted by a hacking incident in September against the accounting giant Deloitte, the companies said Tuesday, after a British newspaper alleged a server containing emails from government agencies was compromised.
Quicken Loans: Home Prices Increase, But Still Not at Homeowner Expectations
HousingWire, Oct. 10, 2017–Kelsey RamirezHome prices continued to rise in September, however not fast enough to keep up with homeowners’ expectations, according to Quicken Loans National Home Price Perception Index.
In Aftermath of Hurricanes, FEMA’s Slow Flood Mapping Leaves Homeowners Vulnerable
The Hill, Oct. 9, 2017–Alison SpannThe Federal Emergency Management Agency has delayed decisions on flood zone determinations–in some cases by two years or more–and currently has more than 240 mapping projects on hold, the department’s inspector general warned in a report dated Sept. 27.
Lead Management Lacking in Many LOS Systems
Mortgage Daily, Oct. 9, 2017–Sam GarciaThe STRATMOR 2016 LOS Technology Insight Survey said that less than a quarter of the more than 250 lenders surveyed indicated compliance tools in their LOS were highly effective and gave them a competitive advantage.