Dodd-Frank Update, May 23, 2017 (suscription)The Consumer Financial Protection Bureau quietly announced that it plans to begin direct supervision of service providers. Two industry veterans spoke to Dodd Frank Update about the implications service providers face if direct third-party oversight by the bureau becomes a reality.
Category: Top National News
Freddie’s New Business Dips, Delinquency Holds
Mortgage Daily, May 23, 2017Secondary lending volume slipped last month at Freddie Mac as delinquency remained at a nearly decade low.
HUD Budget Includes New FHA Administrative Fee
Mortgage Daily, May 23, 2017HUD’s proposed budget includes a new administrative fee on government-insured mortgages to fund technology updates.
U.S. Looks To Get Mortgage Giants Fannie And Freddie Out Of Conservatorship
Morning Edition (NPR), May 23, 2017–Charles LaneMortgage Bankers Association President and CEO David Stevens says the conundrum that lawmakers are trying to solve is how to keep home prices affordable by keeping the 30-year mortgage but to do it without having taxpayers take all the risk.
Ratings Firms Issue Downgrades for Mall-Backed Debt
Wall Street Journal, May 23, 2017–Esther Fung (subscription)Bond rating companies are looking closer at securities tied to shopping mall debt as concerns intensify about mall owners’ ability to repay their mortgages amid closures of anchor stores.
Lenders Protest Proposed FHA Fee for Risk Upgrades
National Mortgage News, May 23, 2017–Brian Collins (subscription)While the mortgage industry agrees that the FHA should upgrade its risk management system, representatives argue that the budget shows the agency is making enough money on its own to bear the cost of the improvements.
New American Funding Commits to Increasing Hispanic Homeownership
HousingWire, May 23, 2017–Kelsey RamirezNew American Funding, a national mortgage lender, announced it is committed to joining to National Association of Hispanic Real Estate Professionals, a national advocate on housing policies affecting Hispanic homebuyers, in order to increase Hispanic homeownership.
Conferences: How Prepared Are You To Make The Most Of Them?
Mortgage Orb, May 22, 2017–Barry HaysThe mortgage industry is fortunate to have some of the best annual conferences of any business sector in the country. There are a variety of conferences each year hosted by regional and national trade associations such as the Mortgage Bankers Association.
Battleground State Voters Favor CFPB Commission, Poll Finds
National Mortgage News, May 22, 2017–Ian McKendry (subscription)Roughly 58% of 6,000 voters in Indiana, Maine, Michigan, Missouri, Montana, North Dakota, Ohio and West Virginia said they would support moving the bureau from a single director to a bipartisan commission, according to a poll released Monday by three industry groups.
Investment, Hiring Plans Show Rising U.S. Business Optimism
Bloomberg, May 22, 2017–Sho ChandraA jump in U.S. investment and hiring plans for 2017 indicates manufacturers and service providers have grown more optimistic about the economy since late last year, the Institute for Supply Management’s twice-yearly forecast showed Monday.