Spokane Spokesman (Wash.), Sept. 3, 2017–Tom KellyHigh tech cannot replace all customer service.
Category: Top National News
Read This Before Getting a Reverse Mortgage
MarketWatch, Aug. 31, 2017–Jacob PassyHUD announced on Tuesday that it will makes changes to the reverse-mortgage program to reduce the risk the program presents to the government and taxpayers. “This is a statement that the program is important,” said David Stevens, president and CEO of the Mortgage Bankers Association. “For certain seniors, it’s their only option.”
Mortgage Rates Continue their Four-Month Slide
Washington Post, Aug. 31, 2017–Kathy Orton”Rates remained low last week as tension between North Korea and the global community continued to mount, fueling a flight to quality and keeping investors in safer U.S. Treasuries,” said Joel Kan, MBA economist.
How the Mortgage Interest Deduction Could be Cut in Tax Reform
CNNMoney, Aug. 31, 2017–Jeanne SahadiTax writers are looking to replace some of the revenue they’d lose from the trillions in tax cuts they want to make. And the mortgage deduction is one of the most expensive tax breaks on the books, estimated to cost more than $80 billion a year in the next decade.
Mnuchin Says Trump Administration, Congress to Release Tax Plan Details in Coming Weeks
Wall Street Journal, Aug. 31, 2017–Richard Rubin (subscription)The Trump administration and top congressional officials intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview.
Wells Opened Far More Fake Accounts than Originally Estimated
American Banker, Aug. 31, 2017–Kate Berry (subscription)Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.
CFPB Sets Loan Limits for High-Cost Mortgages
National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (subscription)The Home Ownership Equity Protection Act loan threshold rose slightly to $21,032, from $20,579. The adjusted points and fees dollar trigger for high-cost mortgages in 2018 will be $1,052, up from $1,029, according to a final rule filed in the Federal Register this week.
NYDFS Cybersecurity Rules Now in Effect for Financial Institutions
HousingWire, Aug. 31, 2017–Brena SwansonThe New York Department of Financial Services reminded financial institutions that the first compliance date of New York’s cybersecurity regulation was on Aug. 28.
5 Ways Servicers are Helping Homeowners Affected by Harvey
National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (free article)As Hurricane Harvey continues to wreak havoc in Texas and Louisiana, servicers and other mortgage industry resources stand at the ready to help displaced homeowners. (MBA mention)
Fannie’s Delinquency Drops to New Post-Crisis Low
Mortgage Daily, Sept. 1, 2017Serious delinquency at Fannie Mae fell to the lowest level in the past decade. New business maintained.