Mortgage Daily, July 3, 2017The Consumer Financial Protection Bureau has issued policy guidance on early compliance with the 2016 Mortgage Servicing Final Rule.
Category: Top National News
ARMs Lead Weekly Mortgage Market Index Up
Mortgage Daily, July 3, 2017The Mortgage Market Index from Mortgage Daily, which provides insight into upcoming originations based on rate-lock volume at OpenClose, was 149 in the week ended June 30.
Why You’d Want to Build a Skyscraper Like an iPhone
Wall Street Journal, July 2, 2017–Christopher Mims (subscription)With tech-enabled modular design and building, the construction industry, like consumer electronics, can benefit from economies of scale.
Morgan Stanley Nears $400 Million in Consumer Relief for Mortgage Bond Settlement
HousingWire, June 30, 2017–Ben LaneThe settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide $400 million in consumer relief for New York residents affected by the company’s alleged actions.
Real Estate Startup Redfin is Getting Ready for an IPO
Business Insider, June 30, 2017–Julie BortOnline real estate brokerage Redfin has put the “for sale” sign on its own shares, filing the paperwork for an IPO late on Friday.
MBA Offices Closed Today, Tuesday
MBA NewsLink Staff Offices of the Mortgage Bankers Association will be closed this Monday, July 3 and Tuesday, July 4 in observance of the Independence Day holiday. MBA NewsLink will not publish on Tuesday, July 4. On behalf of MBA officers and staff, have a safe and happy holiday.
MBA Offices Closed July 3, 4
MBA NewsLink Staff Offices of the Mortgage Bankers Association will be closed this Monday, July 3 and Tuesday, July 4 in observance of the Independence Day holiday. MBA NewsLink will publish on Monday, July 3 but will not publish on Tuesday, July 4. On behalf of MBA officers and staff, have a safe and happy holiday.
Trade Groups Ask FHFA to Extend Input on LEP Request
National Mortgage Professional, June 29, 2017–Phil HallA coalition of industry trade groups has asked the Federal Housing Finance Agency to extend the response period on its proposal to improve language access in mortgage lending and servicing from 45 to 90 days. (MBA mention)
Federal Banking Agencies Propose Changes to Call Reports
National Law Review, June 29, 2017The Agencies’ proposal would adopt the Mortgage Bankers Association method for closed-end installment loans, amortizing loans secured by real estate, any other loan and lease financing receivables with monthly payments, as well as open-end credit with payments scheduled monthly.
Big Data Tells Mortgage Traders an Amazing Amount About You
Bloomberg, June 29, 2017–Matt SullyGood data is critical for investors in the $9 trillion mortgage bond market. But giving so much mortgage information to investors so quickly is raising fresh concerns among consumer-rights watchdogs that borrowers could suffer a loss of privacy, or even discrimination.