Category: Top National News

Mortgage Daily, Sept. 12, 2017Following a successful recruiting campaign in its home town, Guaranteed Rate will run the same campaign in Southern California.

Bloomberg, Sept. 14, 2017–Joe LightGinnie Mae is investigating lenders for allegedly pressuring veterans and members of the military into unneeded mortgage refinances–unsavory conduct that not only leads to higher consumer costs but has consequences for one of the world’s largest bond markets.

HousingWire, Sept. 13, 2017–Ben LaneFor the third time this year, Fannie Mae and Freddie Mac are lowering the benchmark interest rate for standard mortgage modifications. And unlike last time, both of the government-sponsored enterprises are changing their respective benchmark rates at the same time.

National Mortgage News, Sept. 13, 2017–Brian Collins (subscription)This mortgage is built around the cost of funds, or COFI, index published by the Federal Home Loan Bank of San Francisco. It reduces the incentive for borrowers to refinance and theoretically makes it profitable for banks to hold these fixed-rate mortgages in portfolio.

Smith Mountain Laker (Va.), Sept. 12, 2017–Karen DillonMBA President and CEO David Stevens talked about his diagnosis, the importance of cancer research and a YouTube video he and Mary recorded and released for National Prostate Cancer Awareness Month.

New York Times, Sept. 12, 2017–Annie Correal, Conor DoughertyMost Houston buyers are keeping deals on track, builders are expected to barrel ahead and owners of elevated homes may find their properties more valuable.

Reuters, Sept. 12, 2017–Herbert LashProspects for New York City’s property market remain strong yet greater caution can be seen as buyers turn more hesitant and sellers seek unrealistic prices, a trade association’s second-quarter survey of broker sentiment showed on Tuesday.

Mortgage Professional America, Sept. 12, 2017–Steve RandallThe MBA Mortgage Credit Availability Index was up 0.7%, indicating a loosening of credit.

Wall Street Journal, Sept. 12, 2017–Ben Leubsdorf (subscription)Income for the average American household reached a new high last year for the first time this century, a milestone in the slow and volatile recovery from two recessions and financial bubbles that crossed over three presidencies.

Wall Street Journal, Sept. 12, 2017–Scott Calvert, Jon Kamp, Elizabeth Bernstein (subscription)Hurricane Irma destroyed a quarter of the homes in the Florida Keys and badly damaged many more, federal officials said Tuesday, as millions of people in the nation’s Southeast remained without power in the storm’s wake.