Mortgage Daily, June 9, 2017With government activity leading the way, weekly new mortgage business leapt higher from the holiday week.
Category: Top National News
Mortgage Bankers Association Names Stoffers as Vice Chair for 2008
Financial Regulation News, June 8, 2017The Mortgage Bankers Association nominated Brian Stoffers, global president, debt and structured finance at CBRE, to be its vice chairman for the 2018 membership year.
Fixed Mortgage Rates are Stuck in a Month-Long Slide
Washington Post, June 8, 2017–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average sank to 3.89 percent with an average 0.5 point. (MBA mention)
Is a 20 Percent Down Payment Out of Reach? How to Get Around That
CNBC, June 8, 2017–Carla FriedComing up with the cash to make a 20 percent down payment on a home is becoming increasingly impractical.
House Primes Flood Insurance Battle
Wall Street Journal, June 8, 2017–Rachel Witkowski (subscription)House lawmakers aim to pass legislation by July addressing how the nation handles flood insurance, a senior Republican said, setting up a regional battle in the Senate over how the federal government covers property damage after natural disasters.
Fixed Mortgage Rates and Credit Availability Down
National Mortgage Professional, June 8, 2017–Phil HallThe Mortgage Bankers Association reported its monthly Mortgage Credit Availability Index dropped by 1.1 percent to 181.0 in May.
FHA Premium Reduction Remains on Hold: Carson
National Mortgage News, June 8, 2017–Brian Collins (subscription)The financial condition of the Federal Housing Administration’s mortgage insurance fund has “stabilized,” according to HUD Secretary Ben Carson. But that does not mean he’s ready to cut FHA premiums again.
JPMorgan Chase COO Matt Zames Stepping Down
HousingWire, June 8, 2017–Ben LaneMatt Zames, who served as the chief operating officer of JPMorgan Chase and was once seen by many as a potential successor to CEO Jamie Dimon, is stepping from his position, the bank disclosed Thursday in a filing with the Securities and Exchange Commission.
House Passes Sweeping Bill to Strip Back Financial Rules
The Hill, June 8, 2017–Sylvan LaneSponsored by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, the CHOICE Act is the most ambitious Republican effort to roll back the Dodd-Frank Act, passed in 2010.
Senate Appears Long Way Off from Reg Relief
American Banker, June 8, 2017–Kate Berry (subscription)As the House moved Thursday to pass a sweeping regulatory reform bill, senators on both sides of the aisle paid lip service to offering relief to community banks and credit unions without offering many specifics over what might be included in their version.