HousingWire, Aug. 3, 2017–Brena SwansonA new report from S&P Global Market Intelligence suggested that mortgage servicing companies may be poised for a turn toward stability and growth thanks to the regulatory controls put in place after the downturn.
Category: Top National News
Fannie Mae CEO: We’re Focused on Reducing Appraisal Turnaround Times
HousingWire, Aug. 3, 2017–Jacob GaffneyWhile the industry as a whole is rowing in the same direction, efforts to streamline the appraisal process, Timothy Mayopoulous said, is a step in the right direction for Fannie Mae, which earlier this year refined its appraisal policies, which reduced overall appraiser responsibilities.
Plans to Rethink America’s Malls Can’t Keep Up With Retail’s Collapse
Bloomberg, Aug. 3, 2017–Sarah MulhollandWith store closures accelerating, landlords are having to change course and find ways to create malleable space that can accommodate a revolving roster of tenants.
Fannie Books Higher Quarterly Profit, to Send $3.1 Billion to U.S. Treasury
Reuters, Aug. 3, 2017–Richard LeongFannie Mae, the largest U.S. mortgage guarantor, said on Thursday its net income edged up to $3.2 billion in the second quarter from the previous quarter’s $2.8 billion due to higher credit-related income and investment gains.
U.S. Labor Market Tightening; Services Sector Growth Slowing
Reuters, Aug. 3, 2017–Lucia MutikaniThe number of Americans filing for unemployment benefits fell last week, pointing to a tightening labor market that likely keeps the Federal Reserve on course to announce plans next month to start reducing its massive bond portfolio.
Consumer Bankruptcies Down 2 Consecutive Months
Mortgage Daily, Aug. 3, 2017Total U.S. bankruptcies filed, including commercial and non-commercial filings, worked out to 61,366 during July, dropping from an upwardly revised 66,789 the prior month.
PennyMac Lending Rises, Launching Broker Channel
Mortgage Daily, Aug. 4, 2017PennyMac Financial Services Inc. sees opportunity in mortgage brokers and is about to launch a broker business. Quarterly originations increased as earnings declined.
MBA Announces Changes to Regulatory Counsel Staff
HousingWire, Aug. 3, 2017–Caroline BasileThe Mortgage Bankers Association has announced the promotion of two current staffers and the planned departure of vice president and regulatory counsel Ken Markison.
Amid Affordability Worries, Mortgage Industry Moves to Ease Home Lending
Los Angeles Times, Aug. 4, 2017–Andrew KhouriChanges in the mortgage industry are afoot, with the goal of loosening some of the strict standards established after the subprime crisis–rules some blame for impeding sales.
Fannie to Keep Tinkering with Credit-Risk Transfer Formula
National Mortgage News, Aug. 3, 2017–Brad Finkelstein (subscription)Fannie Mae continues to experiment with various forms of credit risk transfers to strike a balance between offering a product that’s attractive to investors and a cost-effective way to reduce risk.