Mortgage Daily, Apr. 25, 2017Flagstar Bancorp Inc. reported a drop in income before taxes during the first quarter.
Category: Top National News
House Committee Considers Bill to Open Records at Fannie Mae and Freddie Mac
HousingWire, Apr. 24, 2017–Kelsey RamirezUnder the bill, the GSEs would be directed to accept and process FOIA requests from the public and release information to satisfy those request for as long as they remain under federal conservatorship. However, this bill would only apply to the mortgage giants while they are under federal conservatorship, and the administration could be already looking at plans for GSE reform. The Mortgage Bankers Association recently released its roadmap to GSE reform that breaks down what it sees as the best option for reform.
Trump Wants Tax Plan to Cut Corporate Rate to 15%
Wall Street Journal, Apr. 24, 2017–Michael C. Bender, Richard Rubin, Nick TimiraosPresident Donald Trump has ordered White House aides to accelerate efforts to draft a tax plan slashing the corporate rate to 15% and prioritizing cuts in tax rates over an attempt to not increase the deficit.
Homes Were Slightly Less Affordable in February
National Mortgage News, Apr. 24, 2017–Brad Finkelstein (subscription)A consumer’s home purchase power only fell by 0.2% in February from January because wage growth has somewhat offset price increases, said First American Financial Corp.
Home Prices Reach Post-Recovery High: Black Knight
National Mortgage News, Apr. 24, 2017–Brad Finkelstein (subscription)Home prices reached their highest level since the recovery started, according to Black Knight Financial Services.
Retailers Are Going Bankrupt at a Record Pace
Bloomberg, Apr. 24, 2017–Kim BhasinIn a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016.
Will Trump End Reverse Mortgages?
OurBroker.com, Apr. 24, 2017–Peter G. MillerReverse mortgages are in trouble. It’s fair to say that reverse mortgages could well be gone under the Trump Administration.
Lots of Mortgage C-Suite Appointments
Mortgage Daily, Apr. 24, 2017–Sam GarciaQuicken Loans Inc. said Monday it hired Casey Hurbis as its new chief marketing officer.
Servicing, Staffing Expand at Guild Mortgage
Mortgage Daily, Apr. 24, 2017Although home lending slowed at Guild Mortgage Co., the size of the servicing portfolio and payroll were up from the prior quarter and a year prior.
Blend CEO on Why Lenders are Reluctant to Adopt Digital Mortgages
HousingWire, Apr. 24, 2017Mortgage technology is growing so fast that Blend CEO Nima Ghamsari said in an interview, “You could probably with credibility say if you don’t have this technology in three to four years your company will be suffering.”