Mortgage Daily, Sept. 7, 2017Berkshire-affiliate HomeServices of America Inc. announced Thursday that it has acquired The Long & Foster Companies Inc. and its family of companies.
Category: Top National News
Massive MSR Portfolio Trading Hands
Mortgage Daily, Sept. 7, 2017Ownership of mortgage servicing rights on a large portfolio of government-sponsored enterprise single-family loans is trading hands.
As Online Notarizations Increase, MBA Seeks Industry Standards
HousingWire, Sept. 7, 2017–Brena SwansonThe Mortgage Bankers Association announced MISMO, the Mortgage Industry Standards Maintenance Organization, is looking into online notarizations to establish an industry standard.
House to Consider Bill to Change TRID Rules
HousingWire, Sept. 7, 2017–Ben LaneThe new bill is called the “TRID Improvement Act of 2017,” and has yet to be officially introduced into the House, but the bill was discussed on Capitol Hill on Thursday during a meeting of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.
Equifax Hack Hits Credit Histories of Up to 143 Million Americans
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.
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.