National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (subscription)The Home Ownership Equity Protection Act loan threshold rose slightly to $21,032, from $20,579. The adjusted points and fees dollar trigger for high-cost mortgages in 2018 will be $1,052, up from $1,029, according to a final rule filed in the Federal Register this week.
Category: Top National News
NYDFS Cybersecurity Rules Now in Effect for Financial Institutions
HousingWire, Aug. 31, 2017–Brena SwansonThe New York Department of Financial Services reminded financial institutions that the first compliance date of New York’s cybersecurity regulation was on Aug. 28.
5 Ways Servicers are Helping Homeowners Affected by Harvey
National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (free article)As Hurricane Harvey continues to wreak havoc in Texas and Louisiana, servicers and other mortgage industry resources stand at the ready to help displaced homeowners. (MBA mention)
Fannie’s Delinquency Drops to New Post-Crisis Low
Mortgage Daily, Sept. 1, 2017Serious delinquency at Fannie Mae fell to the lowest level in the past decade. New business maintained.
New 2017 Low for Mortgage Rates, Could Go Lower
Mortgage Daily, Aug. 31, 2017–Sam GarciaInterest rates on single-family loans this past week fell to the lowest level since last year, and the next report could see a similar decline.
Senior Federal Home Loan Bank Execs Indicted
Mortgage Daily, Aug. 31, 2017Senior executives of the Federal Home Loan Bank of Dallas have been indicted for using funds from the organization to pay for personal expenses.
MBA: The Cost to Produce a Mortgage Falls Closer to Historic Lows
HousingWire, Aug. 31, 2017–Brena SwansonBusiness started to pick up moving into the busy spring home buying season, the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance report found.
July Housing Market Recap: Home Sales Hit 2017 Lows on Lack of Inventory, Affordability Woes
GoRion, Aug. 30, 2017–Sam BourgiThe rush to buy property will likely accelerate in coming months as more Americans look to take advantage of favorable mortgage rates.
U.S. Purchase Mortgage Activity Hits Six-Month Low–MBA
Reuters, Aug. 30, 2017U.S. mortgage applications to buy a home fell last week to the their lowest level in more than six months, even as some home borrowing costs fell to their lowest since November, the Mortgage Bankers Association said on Wednesday.
Harvey Hits Mortgages as Flood-Stricken Homeowners Are Unlikely to Pay
CNBC, Aug. 30, 2017–Diana Olick (MBA mention)Fannie Mae, Freddie Mac and the FHA announced they will offer forbearance for at least 90 days to borrowers in the Houston area. The Mortgage Bankers Association is putting out fact sheets for borrowers, sending loan data to the Trump administration and launching a Harvey web page.