National Mortgage News, Apr. 27, 2017–Ian McKendry (subscription)While lawmakers have grown increasingly pessimistic about the chances to significantly revamp the Dodd-Frank Act, they are hopeful that housing finance reform–which has bedeviled Congress for the past nine years–may finally have a shot at enactment.
Category: Top National News
Back Against Wall, Ocwen Challenges CFPB’s Constitutionality
American Banker, Apr. 26, 2017–Kate Berry (subscription)With its business under threat, Ocwen Financial asked a federal judge on Wednesday to throw out a lawsuit filed against it last week by the Consumer Financial Protection Bureau, claiming the agency is “unconstitutionally structured.”
Lowest Mortgage Rates Since Election Push Refinances up 7%
CNBC, Apr. 26, 2017–Diana OlickTotal mortgage application volume rose 2.7 percent last week, according to the Mortgage Bankers Association.
Is The MBA’s GSE Reform Proposal ‘The One?’
Mortgage Orb, Apr. 26, 2017–Patrick BarnardWith the Trump administration in the White House and a Republican-controlled Congress, it could be argued that the time has never been so ripe for GSE reform to finally happen.
Trump Calls for Deep Cuts in Business Taxes, Changes for Individuals
Wall Street Journal, Apr. 26, 2017–Richard Rubin, Nick Timiraos (subscription)President Donald Trump called for deep reductions in business tax rates and major changes to the individual tax system in a bid to reinvigorate his economic and legislative agenda as he nears the 100-day mark of his presidency.
Tax Cut Would Cost BofA, Citi Billions. Here’s Why They Still Win
Wall Street Journal, Apr. 26, 2017–Michael Rapoport, Telis Demos (subscription)A cut in the corporate tax rate would involve immediate pain for some big banks, namely Citigroup Inc. and Bank of America Corp., but an eventual earnings boost should more than make up for that.
Republican Bid to Gut Dodd-Frank Renews the Debate About Breaking Up the Banks
Bloomberg, Apr. 26, 2017–Elizabeth DexheimerThe roll-out of legislation this week that would rip up much of the Dodd-Frank Act marks a pivotal moment for Republicans’ efforts to overhaul post-crisis financial rules. It’s also an opportunity for Democrats to push an agenda that GOP lawmakers and finance executives are less keen to talk about: Breaking up Wall Street megabanks.
How is the CRE Industry Adapting to the Emergence of Fintech Solutions?
National Real Estate Investor, Apr. 26, 2017–Beth Mattson-Teig For sales and financing, technology allows for faster and broader market reach, meaning you have the ability to get to multitudes of investors and lenders.
Trade Groups Support Upgrade to PACE Loan Protections
National Mortgage Professional, Apr. 26, 2017–Phil HallMore than two dozen national and regional trade groups representing the mortgage and real estate industries [including the Mortgage Bankers Association] joined together to support new legislation that is designed to improve consumer protection requirements for Property Assessed Clean Energy (PACE) loans.
Mortgage Experts Agree: There is No Housing Bubble
HousingWire, Apr. 26, 2017–Brena SwansonDarius Bozorgi, Veros CEO, Mike Fratantoni, Mortgage Bankers Association chief economist, and Douglas Duncan, Fannie Mae chief economist, joined HousingWire on a webinar on Wednesday to discuss what’s next for the housing market and mortgage nation.