National Mortgage News, Sept. 5, 2017 (subscription)The long-term recovery for thousands of Texans whose homes were decimated by Hurricane Harvey rests with a Trump administration government outsider who wants his agency’s budget cut by billions of dollars.
Category: Top National News
Rising Prices Keep Potential Buyers Out of the Market
National Mortgage News, Sept. 5, 2017–Brad Finkelstein (subscription)Rising prices are starting to keep potential purchasers from looking for homes and making an offer although interest remains near record levels, according to the Redfin Housing Demand Index.
MBA Requests Mortgage Industry Input on Unified MISMO Closing Instructions
HousingWire, Sept. 5, 2017–Kelsey RamirezThe Mortgage Bankers Association announced MISMO, the mortgage industry standards maintenance organization, is requesting feedback from the mortgage industry on its new closing instruction industry standards.
Kashkari Says Fed May Have Harmed U.S. Economy With Rate Hikes
Bloomberg, Sept. 5, 2017–Matthew BoeslerFederal Reserve interest-rate increases may be “doing real harm” to the U.S. economy, which would help explain why inflation is low and job growth has slowed, said Minneapolis Fed President Neel Kashkari, one of the central bank’s most dovish policy makers.
Mobile Apps for Appraisals, Credit, Originations
Mortgage Daily, Sept. 5, 2017–Sam GarciaMortgage service providers have launched or updated mobile applications to help with appraisals, credit reports and production. A pair of reports offer insight into mobile technology.
Compliance Services for HMDA, ATR, Day 1 Certainty
Mortgage Daily, Sept. 5, 2017–Sam GarciaNew and upgraded offerings recently unveiled by service providers promise to help lenders comply with the Home Mortgage Disclosure Act, the Ability to Repay rule and Fannie Mae’s Day 1 Certainty initiative.
Working for Women
DS News, Sept. 4, 2017–Rachel WilliamsThe disparity between men and women in leadership positions and compensation is one of the most pressing issues facing the financial services sector today.
Mortgage-Backed Securities Market Heats Up
Wall Street Journal, Sept. 5, 2017–Peter Grant (subscription)Banks and other underwriters of commercial mortgage-backed securities are on track to issue more notes in September than any other month this year.
Real Estate Firm Says Malls Need a New Business Model
Wall Street Journal, Sept. 5, 2017–Esther Fung (subscription)Malls need to shift emphasis away from department stores and toward retailers that are less susceptible to competition from e-commerce, according to a report from real estate services firm CBRE Research.
Affordability in Question: The National Flood Insurance Program Needs $1.4 Billion More to Function
HousingWire, Sept. 5, 2017–Brena SwansonAs the expiration date of the National Flood Insurance Program draws nearer, the Congressional Budget Office, a nonpartisan analysis for the U.S. Congress, calculated that the program has an expected one-year shortfall of $1.4 billion.