Mortgage Daily, May 3, 2017Home lending activity was off at Ocwen Financial Corp. The West Palm Beach, Florida-based organization experienced a pre-tax loss of $30 million during the first quarter.
Category: Top National News
7 Key Takeaways from MBA Secondary ’17
National Mortgage News, May 3, 2017–Brad Finkelstein (subscription)From housing finance reform to the latest economic projections, here’s a look at the biggest stories and best insights from this week’s Mortgage Bankers Association National Secondary Market Conference in New York.
Experts Agree: Chances of Recession are Rising
HousingWire, May 3, 2017–Kelsey RamirezThe chances of a recession within the next 12 months continues to rise as the yield curve flattens, said Mark Fleming, chief economist with First American Finance Corp.
BofA’s Moynihan Says Breaking Up Banks Would Hurt U.S. Interests
Bloomberg, May 3, 2017–Laura J. Keller, Felice MaranzBank of America Corp. Chief Executive Officer Brian Moynihan said the Trump administration would harm U.S. businesses and undermine the financial system if it were to revive a Depression-era law separating consumer and investment banking.
Here’s the Real State of the Housing Market
HousingWire, May 2, 2017–Kelsey RamírezOn the third day of the Mortgage Bankers Association National Secondary Market Conference and Expo in New York City, three economists took the stage to explain their view of the housing market and their forecast for 2017.
GSEs Want to Do More Single-Family Rental Financing
National Mortgage News, May 2, 2017–Bonnie Sinnock (Subscription)Fannie Mae and Freddie Mac will continue to pursue opportunities to provide liquidity to the single-family rental market despite opposition from mortgage and real estate industry groups.
The Credit Box Has Yet to be Fully Used
Scotsman Guide, May 2, 2017–Victor WhitmanFannie Mae Executive Vice President Andrew Bon Salle said Fannie has tried with a series of recent programs to open up the credit box and help lenders move closer to producing a true digital mortgage.
Freddie Mac to Send $2.2 Billion Dividend to Treasury
Fox Business, May 2, 2017–Austen Hufford Mortgage-finance company Freddie Mac said it would send a $2.2 billion dividend payment to the U.S. Treasury, as the company posted a smaller impact from interest rates and spreads than in previous quarters.
CMBS Delinquency Holds, But Industrial Rate Soars
Mortgage Daily, May 2, 2017Performance of securitized commercial real estate loans was slightly worse, though the outlook is stable. But late payments on industrial property loans soared, Morningstar Credit Ratings reported.
Dip in HECM Endorsements
Mortgage Daily, May 2, 2017A modest decline was recorded for monthly production of government-insured reverse mortgages, though there was a year-over-year rise.