Category: Top National News

Mortgage Daily, Sept. 1, 2017Past due payments on securitized commercial real estate loans turned lower as the wall of maturities subsided. The improvement was led by industrial loans, said Morningstar Credit Ratings LLC.

Mortgage Daily, Sept. 1, 2017Originators of home-equity conversion mortgages generated 4,927 endorsements by FHA during August, the busiest month since April.

Spokane Spokesman (Wash.), Sept. 3, 2017–Tom KellyHigh tech cannot replace all customer service.

MarketWatch, Aug. 31, 2017–Jacob PassyHUD announced on Tuesday that it will makes changes to the reverse-mortgage program to reduce the risk the program presents to the government and taxpayers. “This is a statement that the program is important,” said David Stevens, president and CEO of the Mortgage Bankers Association. “For certain seniors, it’s their only option.”

Washington Post, Aug. 31, 2017–Kathy Orton”Rates remained low last week as tension between North Korea and the global community continued to mount, fueling a flight to quality and keeping investors in safer U.S. Treasuries,” said Joel Kan, MBA economist.

CNNMoney, Aug. 31, 2017–Jeanne SahadiTax writers are looking to replace some of the revenue they’d lose from the trillions in tax cuts they want to make. And the mortgage deduction is one of the most expensive tax breaks on the books, estimated to cost more than $80 billion a year in the next decade.

Wall Street Journal, Aug. 31, 2017–Richard Rubin (subscription)The Trump administration and top congressional officials intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview.

American Banker, Aug. 31, 2017–Kate Berry (subscription)Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

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.

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.