Scotsman Guide, Oct. 11, 2017–Linsdey JohnsonThe author, with U.S. Mortgage Insurers, says private mortgage insurance must be part of any comprehensive GSE reform effort. (MBA mention)
Category: Top National News
Rent-to-Own Operator Vision Property Management Shut Down in Wisconsin
HousingWire, Oct. 11, 2017–Ben LaneA Wisconsin state court effectively ended rent-to-own operator Vision Property Management’s ability to operate in the state, as the company’s battle with the state continues.
Black Americans Twice as Likely as Whites to Default on Student Debt
Bloomberg, Oct. 11, 2017–Shahein NasiripourNearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans-more than double the rate among white student debtors, according to new data from the Department of Education.
Over $3 Billion in GSE Mortgages for Sale
Mortgage Daily, Oct. 11, 2017Fannie Mae announced the offering Wednesday. The loans will be sold from its investment portfolio, which was reported at $244 billion as of Aug. 31.
Should CFPB Have More Power over Credit Reporting Agencies?
American Banker, Oct. 10, 2017–Kate Berry (subscription)While Republicans have argued that the Consumer Financial Protection Bureau’s oversight is too broad and needs to be dialed back, Director Richard Cordray is using the Equifax data breach to float the idea of expanded agency authority over the credit reporting bureaus.
Renters Think the Housing Market is Finally Loosening Up…
CNBC, Oct. 10, 2017–Diana OlickThe Mortgage Bankers Association reported credit availability increased in September.
Credit Availability Increasing More Outside the Government Sector
National Mortgage News, Oct. 10, 2017–Bonnie Sinnock (subscription)Slightly looser underwriting outside the government sector is primarily responsible for the latest increase in credit availability, the Mortgage Bankers Association said.
Senators Ask: What’s the Cost of Not Addressing America’s Affordable Housing Problems?
HousingWire, Oct. 10, 2017–Brena SwansonA bipartisan group of Senators sent a letter to the U.S. Government Accountability Office, asking them evaluate America’s “troubling” housing market.
Trump Says Sets Measure to Punish Companies that Outsource
Reuters, Oct. 10, 2017–Makini BriceThe bill would provide economic incentives for companies, Trump said in an interview published on Tuesday, and reward firms that maintain jobs in the United States, and deliver punitive measures against those that move operations offshore.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Mortgage Daily, Oct. 10, 2017–Sam GarciaAmong the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.