Mortgage Daily, Mar. 31, 2017New mortgage activity was depressed over the past week, and it was purchase-money business that was out front of the decline. Adjustable-rate activity, though, grew.
Category: Top National News
Mortgage Rates Retreat for the Second Consecutive Week
Washington Post, Mar. 30, 2017–Kathy OrtonMortgage rates tumbled for the second week as long-term bond yields fell to their lowest level in a month. “Markets adjusted expectations last week as attempts to repeal and replace the Affordable Care Act stalled and bond yields declined,” Mortgage Bankers Association Vice President Lynn Fisher said.
Eight Economists Offer Investment Advice for 2017
National Real Estate Investor, Mar. 29, 2017–Diana BellReal estate economists and researchers share their advice for today’s commercial real estate investors.
GSE Dividend Jumpstarts Debate on Reforms
Scotsman Guide, Mar. 30, 2017–Victor Whitman”The future of Fannie and Freddie should be determined by Congress,” said MBA President and CEO David Stevens. “That is the only way to reach a solution that does what’s best for Americans’ housing needs and taxpayers.”
Mortgage Firm PHH Making Changes at the Top
NJBiz, Mar. 30, 2017–Eric StraussThe company said in a news release that its chief financial officer, Robert Crowl, has been named chief operating officer, reporting to CEO and President Glen Messina. However, effective June 28, the scheduled date for PHH’s annual meeting, Crowl will assume Messina’s roles as CEO and president and stand for election to the board of directors.
Senate Panel Backs Labor Secretary Nominee Alexander Acosta
Wall Street Journal, Mar. 30, 2017–Eric Morath (subscription)President Donald Trump’s choice for labor secretary, Alexander Acosta, won approval Thursday from the committee considering his confirmation, advancing his nomination to the full Senate.
GSE Regulator Calls for Better Alignment of Mortgage Buyback Policies
National Mortgage News, Mar. 30, 2017–Brian Collins (subscription)Private market mortgage insurance companies should better align their buyback and rescission policies with those of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency said this week.
Republicans May Soon Target Informal Regulatory Actions: Toomey
National Mortgage News, Mar. 30, 2017–Ian McKendry (subscription)With slim odds of getting eight Democrats to support major Dodd-Frank Act reforms, Republicans will have to use other measures to make changes to the 2010 reform law, Sen. Pat Toomey, R-Pa., said Thursday.
Goodbye Plywood: Fannie Mae No Longer Allows Plywood in Pre-Foreclosure
HousingWire, Mar. 30, 2017–Ben LaneIn a bulletin sent to servicers this week, Fannie Mae said that it “no longer accepts plywood boards as an acceptable boarding solution on windows of its properties.”
Zillow Launching RealEstate.com, New Site Focused on Millennials
HousingWire, Mar. 30, 2017–Kelsey RamirezThe website will launch in May and will offer a new search experience that’s designed to reach Millennial homebuyers.