HousingWire, June 23, 2017–Brena SwansonTestifying before the Senate Banking Committee, Keith Noreika focused on two issues. The first issue involved reducing regulatory redundancy that results in waste and hinders economic growth. The second related to tailoring regulation to fit the size, complexity and risk of regulated institutions to prevent over-regulating or under-regulating particular entities and activities.
Category: Top National News
A Second, Even Bigger Foreclosure Reaches NYC Billionaires’ Row
Bloomberg, June 23, 2017–Oshrat CarmielAnother luxury condo at Manhattan’s One57 is scheduled for a foreclosure auction–the second time in a month that a property seizure is being sought at the Billionaires’ Row tower following a mortgage default. And it might be the biggest in New York City residential history.
Top Latino Mortgage Originator Is At PrimeLending
Mortgage Daily, June 23, 2017NAHREP President Leo Pareja noted in the announcement that Hispanics accounted for nearly 75 percent of growth in U.S. homeownership last year.
Mortgage Lending Forecasted to Fall After Q2 Peak
Mortgage Daily, June 23, 2017Freddie Mac said after peaking during the current quarterly period, single-family loan production is projected to retreat for the foreseeable future.
Early Look: Lenders Expect to Loosen Credit as Mortgage Demand Weakens
HousingWire, June 26, 2017–Brena SwansonFannie Mae’s second-quarter 2017 Mortgage Lender Sentiment Survey said the share of lenders reporting they have eased mortgage credit standards over the prior three months has ticked up gradually since the fourth quarter.
Mortgage Rates Dip Slightly, Continuing to Hover Near Yearly Lows
Washington Post, June 22, 2017–Kathy OrtonIt doesn’t appear home loan rates will make any big moves in the foreseeable future.
Berkshire Hathaway Extends $1.8 Billion Rescue Plan for Troubled Canadian Mortgage Lender
USA Today, June 22, 2017–Roger YuBerkshire Hathaway, the conglomerate controlled by Warren Buffett, agreed Wednesday to buy a stake in the troubled Canadian mortgage lender Home Capital Group in a $1.8 billion rescue plan.
Buying A Home Sight Unseen Is Easier Than Ever-and More Common
Wall Street Journal, June 22, 2017–Katy McLaughlin (subscription)It takes a confident buyer to purchase a house without stepping foot in it first. Advances in virtual reality and other technology have taken away some of the surprises.
More New Homebuyers, Fewer Homes to Buy
National Mortgage Professional, June 22, 2017–Phil HallTwo new data reports are offering a potentially problematic view of today’s housing market: more people are interested in pursuing homeownership, but fewer properties are available.
Fewer Borrowers Late on their Loan Payments in May
National Mortgage News, June 22, 2017–Brad Finkelstein (subscription)Black Knight Financial Services reported 1.93 million properties where the borrower was at least 30 days late with their mortgage payment, down 145,000 from April.