Category: Top National News

HousingWire, July 19, 2017–Brena SwansonA group of Democratic congressmen sent a letter to HUD Secretary Ben Carson on Monday, urging him to reinstate the previously scheduled cut to Federal Housing Administration mortgage insurance premiums.

HousingWire, July 19, 2017–Ben LaneTed Tozer stepped down as president of Ginnie Mae in January after serving seven years, and while the agency has still not found a permanent replacement, Tozer has found a new position.

National Mortgage News, July 19, 2017–Laura Alix (subscription)The $120.9 billion-asset company’s net income in the second quarter rose 13% year over year to $381 million. Earnings per share were $2.35, beating analysts’ average estimate of $2.26, according to FactSet Research Systems.

Wall Street Journal, July 19, 2017–Robyn A. Friedman (subscription)A record number of veterans and members of the armed services are getting VA loans–mortgages guaranteed by the Department of Veterans Affairs that come with a number of benefits.

Reuters, July 18, 2017–Sweta SinghThe U.S. housing sector has seen prices, sales and financing applications soar lately as more buyers entered the market for the first time, but those trends were hard to see in big banks’ mortgage businesses during the second quarter. (MBA mention)

CNBC, July 18, 2017–Diana OlickTotal application volume fell 6.2 percent last week, compared to the previous week. The Mortgage Bankers Association’s seasonally adjusted application index is now down 17 percent compared to the same week one year ago.

HousingWire, July 18, 2017–Kelsey RamirezThe bank reported an increase of 10% in its net income to $5.3 billion during the first quarter. This is also up from last quarter’s $4.9 billion. However, mortgage banking income created a drag on noninterest income, which increased 6% to $11.8 billion in the second quarter.

Wall Street Journal, July 18, 2017–Laura Kusisto (subscription)Foreign demand for U.S. homes is surging, helping push up prices in major U.S. markets.

National Mortgage Professional, July 18, 2017–Phil HallWhile many people are ready to tuck the housing crash into the history books, its residue is still being felt by Gen X homeowners with minimal equity gains, said Zillow.

National Mortgage News, July 18, 2017–Brian Collins (subscription)House appropriators are trying to put the brakes on the Property Assessed Clean Energy program, which finances energy upgrades on homes through Federal Housing Administration-backed loans.