Category: Top National News

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.

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.

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.

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.

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.

National Mortgage Professional, Aug. 4, 2017–Phil HallThe National Association of Home Builders’ 55+ Housing Market Index recorded a reading of 66 for the second quarter, up 11 points from the previous quarter.

National Mortgage News, Aug. 4, 2017–Brad Finkelstein (subscription)Nonbank mortgage employment rose for the fourth consecutive month in June, as loan production during the second quarter was higher than expected at the start of the year.

National Mortgage News, Aug. 4, 2017–Elina Tarkazikis (subscription)Essent Group reported second-quarter net income of $72.1 million, an improvement from the $52.3 million for the same period last year.

HousingWire, Aug. 4, 2017–Ben LaneSpecifically, the issue relates to a lawsuit from 2006 that claimed some Department of Veterans Affairs Interest Rate Reduction Refinance Loans originated by Wells Fargo should not have been eligible for VA guarantees due to the bank allegedly collecting unauthorized fees with the loans.

Reuters, Aug. 4, 2017–Pete SchroederA report issued Friday by Republican staff on the House Financial Services Committee argued there was “ample evidence” that Consumer Financial Protection Bureau Director Richard Cordray could be held in contempt.