Mortgage Daily, Sept. 25, 2017As demand has diminished for refinanced single-family loans, credit standards on mortgages–especially government-sponsored enterprise loans–have loosened.
Category: Top National News
Fed’s Dudley Sees More Rate Hikes as US Inflation Weakness Fades
Reuters, Sept. 25, 2017The Federal Reserve is on track to gradually raise interest rates given factors depressing inflation are “fading” and the U.S. economy’s fundamentals are sound, an influential Fed policymaker said on Monday.
Watchdog: Ginnie Mae Wasn’t Ready for Nonbank Mortgage Lending Boom
HousingWire, Sept. 25, 2017–Ben LaneThe report, published late last week by HUD Office of the Inspector General, states that over the last few years, Ginnie Mae “did not implement policies and procedures in a timely manner for its account executives to follow in managing issuers, did not develop a written default strategy, and did not assess and address the risks posed by nonbanks in a timely manner.”
SEC Chairman Says Agency Didn’t Do Enough to Size Up 2016 Hack
Wall Street Journal, Sept. 25, 2017–Dave Michaels (subscription)In testimony to Senate committee, Jay Clayton is expected to promise to intensify how Securities and Exchange Commission defends itself against hackers.
CFPB Examiners Moved Through Training Program Too Fast, IG Says
National Mortgage News, Sept. 25, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau may have encouraged some examiners to move through its examiner commissioning program before they were ready, limiting their likelihood of success, the agency’s Office of Inspector General said in a report released Monday.
After Equifax Data Breach, What’s Next for Consumer Data Security?
HousingWire, Sept. 25, 2017–Ben LaneThe company is facing inquiries from the Consumer Financial Protection Bureau, the Federal Trade Commission, the House Financial Services Committee, the Senate Finance Committee, the office of New York Attorney General Eric Schneiderman, the New York Department of Financial Services and a lawsuit from the state of Massachusetts, at least.
Caliber Gives Realtors, Builders Pipeline Access
Mortgage Daily, Sept. 25, 2017Realtors and home builders who have homebuyers with loans pending at Caliber Home Loans Inc. will now have access to details about their pipelines.
Housing Crisis: See How California Lawmakers are Putting More Teeth–And More Money–Into Reform
San Jose [Calif.] Mercury-News, Sept. 25, 2017–Jeff CollinsMillions, if not billions, in new dollars will flow to housing programs under a host of housing bills adopted in the final hours of the California Legislature. New rules will make it harder for local governments to block developments.
Freddie Mac Predicts Continued Growth In 2018 Outlook
Banker & Tradesman, Sept. 25, 2017–Jim MorrisonFreddie Mac is projecting smooth sailing for the U.S. real estate economy, according to its 2018 Economic Research Outlook released last week.
Here’s What the Housing Industry Expects from Trump’s Tax Plan
HousingWire, Sept. 25, 2017–Kelsey Ramírez [MBA Mention]This week, President Donald Trump and Republican leaders plan to release their tax plan which could bring major changes to the housing industry, if acted upon.