Mortgage Daily, Aug. 8, 2017Impac Mortgage Holdings Inc.’s servicing portfolio has more than doubled over the past year. But year-over-year deterioration was reported for quarterly earnings and originations.
Category: Top National News
Aug. 9, 2007: The Day the Mortgage Crisis Went Global
Wall Street Journal, Aug. 9, 2017–Colin Barr (subscription)Ten years ago oday, the first glimpses of the global financial crisis came into view.
Mortgage Servicers Need Laser Focus on Oversight–Report
Mortgage Professional America, Aug. 7, 2017–Francis Monfort The mortgage servicing industry can poise itself for stability and growth by continuing to emphasize oversight practices as it continues to rectify its relationship with the public following the financial crisis, according to a report by S&P Global Ratings.
A Mortgage Mystery: What Happens to ARMs When Libor Goes Away?
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.
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.