Category: Top National News

UExpress, June 2, 2017–Lew SichelmanImportant parts of obtaining financing–the appraisal, the underwriting process and the loan servicing–are changing, but at a slower pace.

New York Times, June 2, 2017–Vivian MarinoAn increasing number of older Americans prefer to have a mortgage. Some lenders can be more flexible than others. “I encourage people to shop at least three lenders,” said David H. Stevens, the president of the Mortgage Bankers Association, “and then likewise, ask real estate agents or financial planners, who are good resources for helping a retiree.”

National Mortgage Professional, June 2, 2017–Phil HallDelinquency rates for commercial and multifamily mortgage loans were saw mostly unchanged or down slightly during the first quarter, according to the Mortgage Bankers Association’s Commercial/Multifamily Delinquency Report.

Wall Street Journal, June 2, 2017–Andrew Scurria (subscription)Officials representing 244 mortgage-backed securities trusts have largely accepted a settlement offer Thursday that puts a floor of $2.4 billion, subject to a judge’s approval, on claims against the Lehman bankruptcy estate.

Mortgage Professional America, June 2, 2017–Ryan SmithIn an open letter to Owens Realty Mortgage, Freestone Capital Management – which, together with its affiliates, owns about 7.6% of Owens’ outstanding shares – slammed Owens management for “questionable decisions” and its “continued destruction of shareholder value.”

National Mortgage News, June 2, 2017–Brian Collins (subscription)Regulatory relief has been a central tenet of the Trump administration’s strategy to strengthen the economy. That philosophy could be applied to the housing market with changes to government-backed mortgage programs to improve access to credit and increase homeownership.

HousingWire, June 2, 2017–Brena SwansonThe House of Representatives is set to consider the Republican-led Financial CHOICE Act, H.R. 10, Wednesday, which is the leading option to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act.

HousingWire, June 2. 2017–Ben LaneAccording to the S&P report, 2017’s total RMBS-related issuance, which S&P defines as prime, re-performing/nonperforming, rental bonds, servicer advances, and risk-sharing deals, sat at $27 billion at the end of May.

National Mortgage News, June 2, 2017–John Heltman (subscription)The Consumer Financial Protection Bureau is in the direct crosshairs of a federal lawsuit questioning the bureau’s leadership structure. But in a larger context, it might be the independence of all federal agencies on trial.

Washington Post Writers Group, June 4, 2017–Kenneth R. HarneyAccording to a new study of 30 million credit files by score developer FICO, many Americans will experience bumps in the coming months, mainly modest increases of less than 20 points. But hundreds of thousands of the increases will be super-sized–in the range of 40 to 60 points and higher.