Wall Street Journal, Aug. 7, 2017–Christina Rexrode (subscription)The Libor index is going away. For U.S. consumers, its demise is most likely to be felt in adjustable-rate mortgages.
Category: Top National News
Risk for Mortgage Fraud Increases Slightly–CoreLogic
Mortgage News Daily, Aug. 7 2017–Jann SwansonCoreLogic says conditions in the mortgage market are once again fertile ground for mortgage fraud. The company’s National Fraud Risk Index hit a new high of 132 in the first quarter of this year versus 113 in the first quarter of 2016 and 122 in the fourth quarter.
No Need for Fed to Raise Interest Rates in Near Term: Bullard
Reuters, Aug. 7, 2017–Ann SaphirThe Federal Reserve can leave interest rates where they are for now because inflation is not likely to rise much even if the U.S. job market continues to improve, St. Louis Fed President James Bullard said on Monday.
Facebook Ventures into Zillow’s Territory with Targeted Real Estate Advertising
GeekWire, Aug. 7, 2017–Monica NickelsburgFacebook has launched Dynamic Ads for Real Estate, its first ad product designed specifically for residential real estate brokerages.
Regions’ Mortgage Earnings Off, Buys MSRs
Mortgage Daily, Aug. 7, 2017While quarterly earnings were solidly higher at Regions Financial Corp., mortgage income receded. Servicing grew with the acquisition of mortgage servicing rights during the quarter.
Five Questions Lenders Must Ask Before Offering 1% Down Mortgages
National Mortgage News, Aug. 7, 2017–Bonnie SinnockAfter Freddie Mac recently took steps to curb 1 percent down mortgages, new questions are emerging about how much risk the industry, and borrowers, should take with these products.
Year-Over-Year Rise in Navy FCU’s Home Lending
Mortgage Daily, Aug. 7, 2017Navy Federal Credit Union, Vienna, Va., reported a year-over-year increase in quarterly mortgage originations as much of the industry reported declines during the same period.
Keeping Borrowers Happy
UExpress, Aug. 4, 2017–Lew SichelmanThere’s nothing that ticks off homebuyers more than their lenders taking time off. They don’t even like it when a lender shuts down for a federal holiday, like most businesses. In fact, according to one recent survey, they don’t like delays at all.
How JLL Spark Is Focusing On Tech As The Future Of Commercial Real Estate
Forbes, Aug. 4, 2017Many startups and tech companies are focusing on the growing property technology sector. JLL recently expanded its tech capabilities by launching JLL Spark, an entity focused on creating new products, investments and supporting startups in the real estate tech industry.
Trump Administration Weighs Slashing Mortgage Deduction
Politico, Aug. 4, 2017–Colin WilhelmDespite promises from the Trump administration in April that it would “protect the homeownership … deductions,” multiple sources tracking tax reform said that the cap on the mortgage interest deduction–currently set at the interest on up to $1 million of mortgage debt–could be lowered in tax reform.