Category: Top National News

Reuters, May 16, 2017–Richard LeongThe percentage of U.S. mortgages in the process of foreclosure at the end of the first quarter fell to its lowest level since the first quarter of 2007, the Mortgage Bankers Association said on Tuesday.

Commercial Observer, May 16, 2017–Lea Overby, Edward DittmerAs the retail landscape shifts, the property sector should remain stable nationally, buoyed by a lack of new construction and brick-and-mortar retailers’ abilities to innovate in response to increased competition (MBA mention).

Bloomberg, May 16, 2017–Prashant Gopal, Joe LightPresident Donald Trump has proposed rewriting the tax code to raise the standard federal deduction to a level where about 25 million homeowners would no longer take advantage of the century-old mortgage interest tax deduction.

Bloomberg, May 16, 2017–Matt ScullyA new product that would allow investors to short U.S. home loans may kickstart the growth of an infant mortgage-bond market if some money managers have their way. Derivatives on a pricing index that tracks mortgage risk sold by Fannie Mae and Freddie Mac would help banks support the underlying notes.

Wall Street Journal, May 16, 2017–Peter Grant (subscription)Numerous startup companies, including WeWork Cos., have launched apartment-sharing businesses that rent out individual rooms rather than entire apartments.

Wall Street Journal, May 16, 2017–Esther Fung (subscription)Mall lenders would rather suffer huge losses than take over struggling properties.

National Mortgage News, May 16, 2017–Kate Berry (subscription)A group of 158 law professors and scholars on Tuesday defended the Consumer Financial Protection Bureau in a letter to top lawmakers, saying a bill to overhaul the Dodd-Frank Act would allow lax lending standards to creep back into the financial system.

HousingWire, May 16, 2017–Brena SwansonDocuSign confirmed on Tuesday that a malicious third party had gained temporary access to a separate, non-core system to steal possibly more than 100 million email addresses.

Mortgage Daily, May 16, 2017Fannie Mae economists increased their estimates of home purchase financing for last year, this year and next year. Even last year’s estimated refinances grew.

Mortgage Daily, May 16, 2017First and second mortgages that are considered to be seriously delinquent made up a smaller share of overall loans last month, reported S&P and Experian.