Category: Top National News

Mortgage Daily, Aug. 25, 2017New home-lending activity turned solidly higher this past week, and it was government mortgage programs that saw the biggest week-over-week gain.

Mortgage Daily, Aug. 28, 2017Taxpayer funds that were intended to support distressed borrowers in areas that suffered the most from the housing crisis have, in some cases, been used for frivolous purposes by state housing agencies.

Pueblo Chieftain (Colo.), Aug. 25, 2017–Andrew KhouriDavid Stevens, president of the Mortgage Bankers Association, called recent loan changes a positive development, but said caution is needed.”We need to be careful not to be on a slippery slope where we go too far,” he said. “As long as it’s done responsibly it’s a good thing.”

Wall Street Journal, Aug. 28, 2017–Christopher Whittal, Mike Bird (subscription)A decade ago, investors’ bad bets on collateralized debt obligations helped fuel the crisis. Billed as safe, they turned out to be anything but. Now, more investors are returning to CDOs-and so are concerns that excess is seeping into the aging bull market.

Washington Post, Aug. 24, 2017–Kathy Orton (MBA mention)A terrorist attack in Spain and political drama in Washington continued to put downward pressure on mortgage rates this week.

Bloomberg, Aug. 24, 2017–Claire BostonPacific Investment Management Co., Goldman Sachs Asset Management, Columbia Threadneedle and others are snatching up bonds tied to subprime mortgages and other home loans made before the housing crisis, while selling speculative-grade company debt.

HousingWire, Aug. 24, 2017–Ben LaneAccording to the CFPB, some number of “financial professionals” are “increasingly promoting” a strategy involving seniors taking out a reverse mortgage as a way to bridge the financial gap until they are able to claim their full Social Security benefits.

National Mortgage News, Aug. 24, 2017–Bonnie Sinnock (subscription)Fannie Mae has begun allowing property inspection waivers for certain purchase loans that have prior appraisals in its Collateral Underwriter system.

HousingWire, Aug. 24, 2017–Brena SwansonSan Francisco-based, mortgage-tech provider Blend announced it raised $100 million in Series D funding, marking its second round of funding for the year. The new round of funding brings Blend’s total funding to $166 million.

Bloomberg, Aug. 24, 2017–Patrick ClarkAccording to a new report, the most active metropolitan areas include Chicago, where an inventory logjam appears to be loosening. Also, Colorado Springs, Washington, D.C., and Reno, Nevada, near Tesla’s massive battery factory, which is attracting workers and driving housing demand.