MarketWatch, June 29, 2017–Tomi KilgoreThe announcement comes less than a week after Forestar determined D.R. Horton’s deal, which allows it to remain a publicly-traded company, was a “superior proposal” to Starwood’s deal to pay $16.00 a share to take the company private.
Category: Top National News
U.S. First Quarter Economic Growth Revised Upward on Jump in Consumer Spending
Reuters, June 29, 2017–Lindsay DunsmuirGross domestic product increased at a 1.4 percent annual rate instead of the 1.2 percent reported last month, the Commerce Department said in its final assessment for the period on Thursday.
Senate Committee Takes First Steps in Making GSE Reform a Key Priority
HousingWire, June 29, 2017–Brena Swanson”Conservatorship of the GSEs has already persisted far longer than was ever intended. And while the Federal Housing Finance Agency has taken important administrative steps during this period, an extended conservatorship is economically and politically unsustainable,” MBA President and CEO David Stevens told the Senate Banking Committee.
GSE Reform Done Right Ensures a Level Playing Field for All
National Mortgage News, June 29, 2017–Hank Cunningham (subscription)The author, who served on the MBA Task Force on a Future Secondary Market, takes issue with investor views on GSE reform and urges the mortgage industry to unify behind common goals.
Four Issues that Could Trip up Senate Housing Finance Bill
National Mortgage News, June 29, 2017–Ian McKendry (subscription)In a political atmosphere of intense partisan divisions, Republicans and Democrats on the Senate Banking Committee sounded on the same page about how to reform Fannie Mae and Freddie Mac during a panel hearing on Thursday. (MBA mention)
Here’s Why Small Lenders Should Support GSE Reform
HousingWire, June 29, 2017–Bill CosgroveFormer MBA chairman urges smaller lenders like him to reject notion that GSE reform is bad for them and says failure of Congress to act is their biggest threat.
Non-QM Is Not The New Subprime
Mortgage Daily, June 29, 2017A new report indicates residential lending to borrowers who don’t meet Qualified Mortgage rule requirements is not the same as pre-crisis subprime lending.
Mortgage Rates Dip to 2017 Low, Likely to Soar
Mortgage Daily, June 30, 2017–Sam GarciaLong-term interest rates on mortgages fell to the lowest level in over seven months. But next week’s report is likely to reflect much higher rates.
Mortgage Applications Drop 6% as Wealthy Buyers ‘Step Back’
CNBC, June 28, 2017–Diana OlickThe Mortgage Bankers Association’s adjusted index is now down 17 percent compared to the same week one year ago.
The 20% Mortgage Down Payment Is Dead
Atlanta Journal-Constitution, June 28, 2017–Hal M. Bundrick (NerdWallet)For first-time home buyers, the challenge of coming up with a 20% mortgage down payment is often difficult enough to keep them out of the market. But the fact is, the 20% down payment is all but dead – and has been for quite some time, especially for first-time buyers.