Mortgage Daily, May 15, 2017Genworth Mortgage Insurance has loosened loan-to-value ratios and jumbo guidelines on some programs.
Category: Top National News
Flagstar CEO Reflects on Bank’s Transition
Detroit Free Press, May 15, 2017–Frank WitsilFlagstar, the second-largest bank headquartered in Michigan, has survived a financial freefall brought on by the recession and banking industry woes that could have destroyed the company.
What Watt’s Banking Committee Testimony Means for GSE Reform
Morning Consult, May 15, 2017–Ryan RaineyDavid Stevens, chief executive of the Washington-based Mortgage Bankers Association, said Federal Housing Finance Agency Director Mel Watt could face political blowback if he takes independent action to protect the capital buffer. That, in turn, could lead to uncertainty, which could also cause markets, or Congress, to fret.
What Does the Renewed CFPB RESPA Investigation into Zillow Mean for Our Industry?
HousingWire, May 15, 2017–Brena SwansonWith a steady stream of enforcement actions and regulations coming out of the Consumer Financial Protection Bureau over the years, the industry doesn’t take the possible threat of getting a violation lightly. And one big company currently drumming up a lot of questions for lenders is Zillow.
Home Sales Jump to Near-Boom-Era Levels
Wall Street Journal, May 15, 2017–Laura Kusisto (subscription)Home sales in the first quarter hit their fastest pace in a decade, a sign that rising prices and slightly higher mortgage rates haven’t deterred home buyers from rushing into the market.
SoFi’s Bit to Become an Industrial Bank Pulls FDIC into Fintech Fray
National Mortgage News, May 15, 2017–Kevin Wack (subscription)The Federal Deposit Insurance Corp. has so far managed to stay out of the growing battle over how the U.S. fintech sector should be regulated, but that appears likely to end as one of the nation’s largest online lenders announced plans to apply for a specialty banking charter soon.
Flagstar Finalizes Acquisition of Opes Advisors
HousingWire, May 15, 2017–Ben LaneFlagstar Bancorp announced Monday that it closed on its acquisition of “certain assets” of Opes Advisors, a full-service mortgage bank and financial advisory firm.
Some Good News in Rising Rates
UExpress, May 12, 2016–Lew SichelmanRising mortgage rates might seem like nothing but bad news for those in the market to buy a home. But there may be a silver lining for consumers: When rates change in either direction, many lenders change their product lines.
Wells Fargo Eyes Return to Mortgage Deals Shunned Since Crisis
Reuters, May 11, 2017–Dan FreedWells Fargo & Co., the largest U.S. mortgage lender, is hoping this year to sell bonds backed by mortgages without government guarantees for the first time since the 2008 financial crisis, the head of the bank’s consumer lending division said on Thursday.
Finding the Best Markets for First-Time Buyers and Renters
National Mortgage Professional, May 12, 2017–Phil HallZillow reports two Florida markets, Orlando and Tampa, are the best markets for first-time buyers due to the availability of affordable homes and a somewhat higher inventory than other metro areas.