Category: Top National News

GoRion, June 21, 2017–Sam BourgiFaced with stagnating loan volumes and growing competition from non-bank lenders, the U.S. mortgage industry is struggling to expand its footprint.

CNBC, June 21, 2017–Diana OlickAfter surging to the highest level since the presidential election, demand for home loans remained steadily elevated last week. “The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance and to assist those ready to purchase,” said Mortgage Bankers Association Economist Lynn Fisher.

Washington Post, June 21, 2017–Kenneth R. HarneyDo we always need an appraiser to tell us what a house is worth? The country’s two biggest sources of mortgage financing–Freddie Mac and Fannie Mae–think not. “If there is a way to use technology to streamline or automate the process while ensuring the same standards of accuracy are met, it would benefit both lenders and consumers and should be pursued,” said Pete Mills, senior vice president with the Mortgage Bankers Association.

Washington Examiner, June 21, 2017–Joseph LawlerAppearing at a meeting of the Mortgage Bankers Association Wednesday morning in downtown Washington, the conservative chairman of the House Financial Services Committee said his 2013 bill “still represents the best vehicle for reform.”

National Mortgage Professional, June 21, 2017–Phil HallWhile the majority of prospective homebuyers do their mortgage research online, they prefer to handle their applications in the presence of a loan officer, a survey said.

HousingWire, June 21, 2017–Ben LaneNationstar Mortgage announced Wednesday it is bringing its customer service operations back to the U.S. According to the company, the move is driven by its transition into becoming Mr. Cooper, which first began back in 2015.

Mortgage Daily, June 21, 2017The loan sale, which was initially marketed beginning on May 10, includes 123 mortgages that have a collective unpaid principal balance of $32 million.

Mortgage Daily, June 21, 2017In all, the Fort Washington, Pa.-based firm is transferring servicing on 3,020 HELOCs that are part of three residential mortgage-backed securities.

American Banker, June 21, 2017–Kate Berry (subscription)Wells Fargo has struggled for the past nine months to move beyond its phony-accounts scandal, but lawmakers appear determined not to let that happen.

American Banker, June 21, 2017–Ian McKendry (subscription)”I think the stars may align–where you could actually see housing finance reform happen ahead of some of the Dodd-Frank reforms, because I think there is more consensus here,” Sen. Mark Warner, D-Va., said during a Mortgage Bankers Association conference this week.