National Mortgage News, Apr. 28, 2017–Bonnie Sinnock (subscription)Foreclosure activity continues to subside and most of the regulatory reforms created to protect distressed borrowers have been implemented. Yet mortgage servicers still haven’t fully resolved the operational challenges facing their business.
Category: Top National News
MBA Secondary panel: Yes, GSE Reform Can Really Work This Time Around
HousingWire, Apr. 30, 2017–Sarah WheelerThe economic and political stars have aligned to make GSE reform a real possibility, and the Mortgage Bankers Association is not letting the opportunity go to waste.
Mortgage Rates Begin to Rise
Washington Post, Apr. 27, 2017–Dion HaynesAfter steadily decreasing for much of April, mortgage rates ticked up last week largely following a rise in Treasury bond yields.
Why Trump Should Have Ditched the Mortgage Interest Deduction
MarketWatch, Apr. 27, 2017–Jacob PassyThe mortgage-interest deduction has withstood years of criticism, despite the fact that middle-class Americans aren’t the ones getting the tax break. It’s really popular with existing homeowners. And the real-estate industry has been successful in uniting in its defense.
Arch Capital’s Earnings up 62% After United Guaranty Acquisition
National Mortgage News, Apr. 27, 2017–Brad Finkelstein (subscription)The Hamilton, Bermuda-based holding company had first-quarter net income of $241.9 million, compared with $149.3 million a year ago.
Bipartisan Bill Would Ease Restrictions on Construction Lending
National Mortgage News, Apr. 27, 2017–Allison Bisbey (subscription)The bill, sponsored by Rep. Robert Pittenger, R-N.C., and Rep. David Scott, D-Ga., would clarify rules that critics say have caused banks to pull back from construction lending, hurting credit availability and driving loans into risky, unregulated sectors.
The Long Journey Ahead for Tax Reform and What it Means for Housing
HousingWire, Apr. 27, 2017–Brena SwansonTax reform, including housing-related tax reform, still has a long road ahead despite Treasury Secretary Steven Mnuchin and White House Chief Economic Advisor Gary Cohn revealing the Trump administration’s tax plan on Wednesday.
Mnuchin Declares Support for Republican Dodd-Frank Replacement
HousingWire, Apr. 27, 2017–Ben LaneAs the Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Act, it will do so with the support of Steven Mnuchin, the secretary of the Department of the Treasury.
Old Republic Title Insurance ‘Far Outpaced’ Last Year’s Earnings
HousingWire, Apr. 27, 2017–Brena SwansonThe company noted that all of the year’s operating earnings improvement emanated from more profitable consolidated underwriting and related services operations.
Homeownership Ready to Rise After Hitting an All-Time Low
Bloomberg, Apr. 27, 2017–Prashant GopalThe U.S. homeownership rate is finally poised to rise significantly as household formations by owners grew faster in the first quarter than those by renters–the first time that’s happened in more than a decade.