Category: Top National News

National Mortgage News, May 1, 2017–Kevin Wack (subscription)Treasury Secretary Steven Mnuchin on Monday reiterated his goal of tackling housing finance reform within the next year, an aggressive plan for resolving a matter that has long flummoxed Congress.

Reuters, May 1, 2017–Richard LeongIf there is a “very radical” reform of the two government-sponsored enterprises, “we need more time” for the transition, Robert Ryan, special adviser and acting deputy director at the FHFA that regulates Fannie and Freddie, said at a conference sponsored by the Mortgage Bankers Association.

HousingWire, May 1, 2017–Ben LaneAmid some concerns that New Residential Investment may pull some of its mortgage subservicing from Ocwen Financial, the two companies are reportedly close to a massive mortgage servicing rights deal that would alleviate some of Ocwen’s business concerns and make New Residential a significant investor in Ocwen itself.

National Mortgage Professional, Apr. 28, 2017–Phil HallPatenaude is president of the J. Ronald Terwilliger Foundation for America’s Families. The Mortgage Bankers Association issued a statement in support.

National Mortgage News, Apr. 28, 2017–Brad Finkelstein (subscription)National foreclosure activity is at an 11-year low. There were more than 83,000 foreclosure filings nationwide in March, down 77% from a record 367,000 in September 2010. But some cities have yet to fully recover.

National Mortgage News, Apr. 28, 2017–Brian Collins (subscription)Wells Fargo Bank has dramatically increased its borrowings from the Federal Home Loan Bank of Des Moines, more than doubling the San Francisco institution’s level of advances and accounting for the majority share of borrowings at the government-sponsored enterprise.

UExpress, Apr. 28, 2017–Lew SichelmanParents who would like to see their adult children leave the nest are increasingly buying their offspring their own places.

HousingWire, Apr. 28, 2017–Brena SwansonEllie Mae powered through industry declines in mortgage volumes and recorded a strong boost in revenue for the first quarter.

Bloomberg, Apr. 28, 2017–Steve MatthewsNearly 600,000 Americans moved from the Midwest and Northeast to the Sun Belt states last year, the most since 2005, according to the Brookings Institution.

National Mortgage News, Apr. 28, 2017–Bonnie Sinnock (subscription)Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties.