Bloomberg, Aug. 24, 2017–Claire BostonPacific Investment Management Co., Goldman Sachs Asset Management, Columbia Threadneedle and others are snatching up bonds tied to subprime mortgages and other home loans made before the housing crisis, while selling speculative-grade company debt.
Category: Top National News
CFPB Warns About Dangers of Taking Out a Reverse Mortgage to Delay Social Security
HousingWire, Aug. 24, 2017–Ben LaneAccording to the CFPB, some number of “financial professionals” are “increasingly promoting” a strategy involving seniors taking out a reverse mortgage as a way to bridge the financial gap until they are able to claim their full Social Security benefits.
Fannie Mae Offers Appraisal Waivers on Purchase Mortgages
National Mortgage News, Aug. 24, 2017–Bonnie Sinnock (subscription)Fannie Mae has begun allowing property inspection waivers for certain purchase loans that have prior appraisals in its Collateral Underwriter system.
Investing in the Future: Blend Raises $100 Million in Series D Funding
HousingWire, Aug. 24, 2017–Brena SwansonSan Francisco-based, mortgage-tech provider Blend announced it raised $100 million in Series D funding, marking its second round of funding for the year. The new round of funding brings Blend’s total funding to $166 million.
Where U.S. Homebuyers Are Headed Next
Bloomberg, Aug. 24, 2017–Patrick ClarkAccording to a new report, the most active metropolitan areas include Chicago, where an inventory logjam appears to be loosening. Also, Colorado Springs, Washington, D.C., and Reno, Nevada, near Tesla’s massive battery factory, which is attracting workers and driving housing demand.
Sears to Close Another 28 Kmart Stores
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.
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.