Category: Top National News

HousingWire, Aug. 25, 2017–Ben LaneThe company said it recently completed a “successful” testing period for its wholesale channel and is now accepting mortgage broker applications.

Herald-Tribune (Fla.), Aug. 26, 2017–Kenneth R. HarneyThere will be no modernization of the mortgage giants’ controversial scoring systems before mid-2019 at the earliest, according to Fannie’s and Freddie’s top government regulator.

Slate, Aug. 25, 2017–Daniel GrossThere are only so many people in the country with good credit and lots of cash sitting around. And this week, we got evidence that one of America’s largest industries may be running into trouble because its products appeal only to the upper crust.

Mortgage Daily, Aug. 25, 2017New home-lending activity turned solidly higher this past week, and it was government mortgage programs that saw the biggest week-over-week gain.

Mortgage Daily, Aug. 28, 2017Taxpayer funds that were intended to support distressed borrowers in areas that suffered the most from the housing crisis have, in some cases, been used for frivolous purposes by state housing agencies.

Pueblo Chieftain (Colo.), Aug. 25, 2017–Andrew KhouriDavid Stevens, president of the Mortgage Bankers Association, called recent loan changes a positive development, but said caution is needed.”We need to be careful not to be on a slippery slope where we go too far,” he said. “As long as it’s done responsibly it’s a good thing.”

Wall Street Journal, Aug. 28, 2017–Christopher Whittal, Mike Bird (subscription)A decade ago, investors’ bad bets on collateralized debt obligations helped fuel the crisis. Billed as safe, they turned out to be anything but. Now, more investors are returning to CDOs-and so are concerns that excess is seeping into the aging bull market.

Washington Post, Aug. 24, 2017–Kathy Orton (MBA mention)A terrorist attack in Spain and political drama in Washington continued to put downward pressure on mortgage rates this week.

Bloomberg, Aug. 24, 2017–Claire BostonPacific Investment Management Co., Goldman Sachs Asset Management, Columbia Threadneedle and others are snatching up bonds tied to subprime mortgages and other home loans made before the housing crisis, while selling speculative-grade company debt.

HousingWire, Aug. 24, 2017–Ben LaneAccording to the CFPB, some number of “financial professionals” are “increasingly promoting” a strategy involving seniors taking out a reverse mortgage as a way to bridge the financial gap until they are able to claim their full Social Security benefits.