Category: Top National News

National Mortgage News, July 7, 2017–Brian Collins (subscription)Hiring by nonbank mortgage companies surged in May as the sector added 2,800 new full-time employees. Employment among nonbank lenders and mortgage brokers rose to 336,700 in May from 333,900 in April.

National Mortgage Professional, July 7, 2017–Phil HallThe Consumer Financial Protection Bureau finalized updates to the TILA-RESPA Integrated Disclosure rule, also known as the “Know Before You Owe” rule, with amendments that the agency said were “intended to formalize guidance in the rule, and provide greater clarity and certainty.”

Wall Street Journal, July 7, 2017–Richard Rubin (subscription)The officials from the House, Senate and White House-which some aides have taken to calling “The Big Six”-aim to overcome in months the internal divides and systemic obstacles that have blocked a major U.S. tax code rewrite for 31 years.

HousingWire, July 7, 2017–Ben LaneThe North Carolina General Assembly is currently considering a bill that would establish a single method for determining how the state’s appraisers are paid based on “academic studies, government fee surveys, and independent private sector surveys,” rather than allowing the fees to be set by market competition.

Washington Post, July 7, 2017–Kenneth R. HarneyTwo new legal settlements from the Consumer Financial Protection Bureau–involving more than $2 million in penalties against credit repair companies–offer mortgage applicants sobering reminders about what to avoid if you feel you need help with your credit.

UExpress, July 7, 2017–Lew SichelmanLenders continue to work overtime in their efforts to reach more borrowers by introducing “new” mortgages. But these loans often have a tinge of the old subprime products that helped devastate the housing market nearly a decade ago. The difference, this time around, is that lenders believe they have a handle on what got them into trouble last time.

Business Insider, July 7, 2017–Avery Hartmans Internet giant Facebook wants to build housing, retail stores, a hotel and more at its corporate headquarters–in short, Facebook wants to build its own town.

HousingWire, July 7, 2017–Ben LaneDykema founded TD Service, which provides technology and services to the mortgage banking industry and specializes in post-closing services and document management, in 1964.

National Mortgage News, July 7, 2017–Brian Collins (subscription)Nearly six months after the newly inaugurated Trump administration tabled a Federal Housing Administration premium cut, industry backers have maintained hope it will be revived, especially as the FHA portfolio continues to recover. But a key obstacle remains: There’s no one to run the mortgage insurance agency.

Orlando Sentinel, July 8, 2017–Mary ShanklinA new home sales program from Zillow connecting Orlando-area sellers directly with certain investors has drawn the ire of real estate agents nationwide.