DSNews, Aug. 25, 2017–Whitney BlessingThe author, with Churchill Mortgage, says more single women are buying homes, which is as important a trend as the emergence of Millennials.
Category: Top National News
CFPB Gives Small Banks, CUs a Break on HMDA Reporting
National Mortgage News, Aug. 24, 2017–Brian Collins (subscription)Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs in the preceding year, the bureau said Thursday.
American Pacific Mortgage Sues Insurer After Hacker Stole Funds from Lender
HousingWire, Aug. 24, 2017–Ben LaneAmerican Pacific Mortgage filed a lawsuit in federal court this week against Aspen Specialty Insurance Company, claiming that the insurance company is refusing to cover a claim filed after a hacker impersonated the mortgage company’s former CEO and stole more than $75,000 from the company.
As Home Prices Rise, Lenders are Relaxing Mortgage Guidelines
GoRion, Aug. 22, 2017–Sam BourgiWith home costs rising across the country, mortgage lenders are making it easier to qualify for a real estate loan. However, it remains to be seen whether liberalizing lending rules can sustain the recovery, or whether it will create more problems that it tries to solve.
Pension Funds, Life Insurers Overtake Banks as Biggest CRE Lenders in Boston
National Real Estate Investor, Aug. 23, 2017–Ely RazinPension funds and insurance companies were significant players in Boston’s commercial real estate market in the first half of the year.
Weekly Mortgage Applications Drop 0.5%, But Jumbo Loans Get Cheaper
CNBC, Aug. 23, 2017–Diana Olick (MBA Mention)Mortgage application volume barely moved last week, down 0.5 percent from the previous week, the Mortgage Bankers Association said.
American Homeowners Are Making Headway on Mortgage Debt, Report Finds
Washington Post, Aug. 23, 2017–Kenneth Harney ATTOM Data Solutions found that 34 percent of all American homeowners have 100 percent equity in their properties–they have either paid off their entire mortgage debt or they never had a mortgage.
Mortgages: Too Much Risk?
Mortgage Orb, Aug. 23, 2017–Peter G. MillerThere’s constant pressure in the mortgage marketplace to make financing quicker, easier and more broadly available. After all, with reduced lending requirements, we did sell more than 7 million existing homes in 2005, which was about 1.5 million more units than we expect to market this year. Surely it would make sense to ease credit standards now to pump up home sales, right?
Robert Shiller: Changes to Popular Deduction Wouldn’t Have Big Effect on Housing Market
CNBC, Aug. 23, 2017–Michelle FoxThere may be rumblings about lowering the cap on mortgage interest rate deductions, but it would have a “rather small effect” on the housing market, Nobel Prize-winning economist Robert Shiller told CNBC on Wednesday.
More High-End Deals Targeted by Revised Anti-Fraud Reporting Rule
National Mortgage News, Aug. 23, 2017–Brad Finkelstein (subscription)Reporting requirements for title insurers and agents were expanded to cover more types of high-end real estate transactions, the Financial Crimes Enforcement Network said.