HousingWire, July 21, 2017–Kelsey RamirezFifth Third Bank released its second quarter earnings report which showed while its residential mortgage lending is up from last year, it is less profitable.
Category: Top National News
Meet Your New Landlord: Wall Street
Wall Street Journal, July 21, 2017–Ryan Dezember, Laura Kusisto (subscription)Big investors transform suburban neighborhoods by buying up single-family homes and renting them out.
Flood Insurance Reform Deal Adds Momentum to House Bill
National Mortgage News, July 21, 2017–Brian Collins (subscription)House Financial Services Committee leaders and two top real estate trade groups have cut a deal on a bill to reform the National Flood Insurance Program, which will add momentum to the legislation.
More Lending, Lower Provision Provide Lift to SunTrust’s Earnings
National Mortgage News, July 21, 2017–Andy Peters (subscription)SunTrust Banks in Atlanta reported an improvement in quarterly earnings despite a steep decline in mortgage banking activity.
Happy Birthday Dodd-Frank: The Big Banks Learned Nothing
HousingWire, July 21, 2017–Jacob Gaffney[Friday was] the 7th anniversary of Dodd-Frank and the 6th anniversary of the Consumer Financial Protection Bureau. And here’s where we are: The big banks are still wearing blinders. And here’s the proof.
That Was No Typo: BofA Held On to 90% of 2Q Mortgage Originations
National Mortgage News, July 21, 2017–Brad Finkelstein (subscription)Bank of America kept 90% of its second-quarter mortgage production in portfolio, an unusually large amount compared with the typical practices of other commercial banks.
Fannie Mae DTI Increase Could Add 95,000 Borrowers Each Year
HousingWire, July 21, 2017–Kelsey RamirezAs the GSEs seek to ease access to credit and allow more homebuyers into the market, Urban Institute pointed out one change that could allow nearly 100,000 new homebuyers to qualify for a mortgage each year.
Q3 Mortgage Origination Forecast Lifted
Mortgage Daily, July 21, 2017Mortgage banking economists have improved their outlook for loan originations during the current quarter.
Alleged HECM Scheme Settled
Mortgage Daily, July 21, 2017The federal government has negotiated a settlement with a man who is accused of abusing the federally insured reverse mortgage program.
Building a Mortgage Meltdown for the Rental Market
New York Post, July 23, 2017–Nicole GelinasFor nearly 80 years, Washington has subsidized homeownership–creating massive distortions both in house prices and in what neighborhoods look like. Now the feds will subsidize rental homes as well – expanding government control over even more of the economy.