Associated Press, Aug. 24, 2017Sears continued to struggle in its second quarter with declining sales amid heightened competition. It now says it will close even more stores.
Category: Top National News
Freddie’s Book Up, Delinquency Holds Near 10-Yr Low
Mortgage Daily, Aug. 24, 2017Freddie Mac managed a total mortgage portfolio that had a balance of $2.0439 trillion as of July 31, according to data provided in its Monthly Volume Summary: July 2017.
Foreclosures at 10-Year Low, Delinquency Up
Mortgage Daily, Aug. 24, 2017Single-family mortgages that were at least 30 days past due or in the foreclosure process numbered 2.384 million as of the end of July, said Black Knight Financial Services.
Americans Haven’t Been This Good At Paying Their Mortgages Since 2000
HousingWire, Aug. 24, 2017–Ben LaneA new report from the Mortgage Bankers Association shows that the delinquency rate for mortgages on one-to-four-unit residential properties fell to a seasonally adjusted rate of 4.24% of all loans at the end of the second quarter.
Higher Home Prices Risk Closing Door on U.S. Housing Momentum
Bloomberg, Aug. 25, 2017–Vince GolleSigns are mounting that rising home values are starting to close the door for more Americans, threatening to temper the momentum in residential real estate.
Diversity: Influencing the Mortgage Industry
DSNews, Aug. 25, 2017–Whitney BlessingThe author, with Churchill Mortgage, says more single women are buying homes, which is as important a trend as the emergence of Millennials.
CFPB Gives Small Banks, CUs a Break on HMDA Reporting
National Mortgage News, Aug. 24, 2017–Brian Collins (subscription)Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs in the preceding year, the bureau said Thursday.
American Pacific Mortgage Sues Insurer After Hacker Stole Funds from Lender
HousingWire, Aug. 24, 2017–Ben LaneAmerican Pacific Mortgage filed a lawsuit in federal court this week against Aspen Specialty Insurance Company, claiming that the insurance company is refusing to cover a claim filed after a hacker impersonated the mortgage company’s former CEO and stole more than $75,000 from the company.
As Home Prices Rise, Lenders are Relaxing Mortgage Guidelines
GoRion, Aug. 22, 2017–Sam BourgiWith home costs rising across the country, mortgage lenders are making it easier to qualify for a real estate loan. However, it remains to be seen whether liberalizing lending rules can sustain the recovery, or whether it will create more problems that it tries to solve.
Pension Funds, Life Insurers Overtake Banks as Biggest CRE Lenders in Boston
National Real Estate Investor, Aug. 23, 2017–Ely RazinPension funds and insurance companies were significant players in Boston’s commercial real estate market in the first half of the year.