National Mortgage News, Sept. 14, 2017–Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
Category: Top National News
SoFi Defends Mortgage Standards, Denies Fast Company Allegations
HousingWire, Sept. 14, 2017–Brena SwansonSoFi, also known as Social Finance, adamantly said it doesn’t shy from criticism, stepping up to defend itself amid the recent negative news coverage on the company’s alleged toxic workplace environment.
Manhattan’s Eager Renters Can’t Make a Dent in Apartment Supply
Bloomberg, Sept. 14, 2017–Oshrat CarmielRenters signed 7,061 new leases in August, the most for any month in data going back to January 2008, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Despite all those deals, vacancies climbed to 2.27 percent from 2.14 percent a year earlier, the first annual increase since February.
CA Lender Hires Billion Dollar Mortgage Originator
Mortgage Daily, Sept. 14, 2017Ben Anderson, who reportedly closed $242 million in home loans last year for Guaranteed Rate, has jumped to RPM Mortgage.
GSE Refis Sink to 27-Month Low, All-Time HARP Low
Mortgage Daily, Sept. 14, 2017The monthly number of government-sponsored enterprise mortgages refinanced tumbled to a two-year low. Government-supported refinances plunged to a record low.
Mnuchin Demurs on Question of GSEs’ Capital
National Mortgage News, Sept. 14, 2017–Kate Berry (subscription)Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin on Thursday did little to clarify the administration’s thinking on the issue.
CFPB Announces First No-Action Letter to Upstart Network to Gain Input on Alternative Credit
HousingWire, Sept. 14, 2017–Brena SwansonThe idea is to assure companies that the Consumer Financial Protection Bureau will not take action against them as they look to launch new products and ideas in finance.
Starkey Mortgage Rebrands as Certainty Home Loans
HousingWire, Sept. 14, 2017–Brena SwansonPlano, Texas-based Starkey Mortgage announced it is rebranding the company and changing its name to Certainty Home Loans, effective Oct. 2.
Analyzing the Fed: What Happens Next?
GoRion, Sept. 13, 2017–Sam Bourgi After a two-month hiatus, the Federal Reserve resumes its policy meetings next week in Washington. Although no change in monetary policy is expected, officials could outline preliminary plans to begin unwinding their massive $4.5 trillion balance sheet.
Mortgage Applications Leap Nearly 10% on Lowest Rates in Almost a Year
CNBC, Sept. 13, 2017–Dina Olick (MBA mention) Homebuyers are clamoring to capitalize on the lowest interest rates in almost a year, driving mortgage application volume 9.9 percent higher, the Mortgage Bankers Association said.