Mortgage Daily, Sept. 18, 2017Including loan officers at financial institutions and at non-bank mortgage firms, there were 562,469 people registered in the Nationwide Mortgage Licensing System as of the second quarter.
Category: Top National News
Non-Banks Grab Mortgage Market Share from Banks
Mortgage Daily, Sept. 18, 2017Over the past year, the nation’s banks have given up mortgage market share to non-bank home lenders. Credit union share also widened.
Federal Reserve Expected to Hold US Interest Rates Steady
Voice of America, Sept. 18, 2017–Jim RandleU.S. central bank leaders are expected to hold the key interest rate steady this week, but they may begin trimming a huge bond-buying program that was intended to boost economic growth.
Could Homeowners See Their Beloved Mortgage Interest Deduction Threatened by Tax Reform?
Dallas News, Sept. 15, 2017–Tom BenningThe perk that so many tout as critical to boosting homeownership could be threatened as Congress pursues what would be the first major overhaul of the tax code in three decades.
Equifax Hack: The Real Estate Industry Is Just As Vulnerable
Forbes, Sept. 15, 2017–Lara O’KeefeLast week’s Equifax data breach shed light once again on the possible ramifications of hacks in the commercial real estate industry if companies do not invest in cybersecurity tech.
Nonprofits Offering Realty Services
UExpress, Sept. 15, 2017–Lew SichelmanNonprofits that work with mostly low- and moderate-income families to widen their homeownership opportunities are expanding their missions into helping clients actually buy and sell houses.
One House, 22 Floods: Repeated Claims Drain Federal Insurance Program
Wall Street Journal, Sept. 15, 2017–Ruth Simon (subscription)Brian Harmon had just finished spending over $300,000 to fix his home in Kingwood, Texas, when Hurricane Harvey sent floodwaters “completely over the roof.” It has flooded 22 times since 1979, making it one of the most flood-damaged properties in the country.
Trump Names Richard Burkhauser as Final Member of Council of Economic Advisers
Wall Street Journal, Sept. 15, 2017–Nick Timiraos (subscription)President Donald Trump named Richard Burkhauser, an economist who is professor emeritus of policy analysis at Cornell University, as the final member of his Council of Economic Advisers.
Redfin: Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent
National Mortgage Professional, Sept. 15, 2017–Phil HallHome prices in August were up 7.7 percent from one year earlier, the largest year-over-year price gain since May 2015, according to new data from Redfin. However, the national median sale price in August was $293,000, unchanged from July, while sales in August fell 5.5 percent compared to last year, the steepest decline posted since July 2016.
Fannie’s Origination Estimates Rise Despite Hurricanes’ Impact
National Mortgage News, Sept. 15, 2017–Bonnie Sinnock (subscription)Fannie Mae revised its estimates for 2017 origination volume upward this month, noting that it expects economic strengths to offset weakness in the market from recent hurricanes.