Mortgage Daily, Mar. 30, 2017Secondary activity at Fannie Mae plunged to the lowest level in a year. Delinquency, meanwhile, reached another post-crisis low.
Category: Top National News
Mortgage Applications Stay Flat Even as Rates Drop to Lowest in Three Weeks
CNBC, Mar. 29, 2017–Diana Olick Homebuyers are trickling back into the mortgage market, but not enough to offset the industry’s steep and steady drop in refinance business, the Mortgage Bankers Association reported.
Beware, Mortgage Seekers: Random, Online ‘Credit Scores’ Are Not Always Reliable
Washington Post, Mar. 29, 2017–Kenneth HarneyA new federal legal settlement with a major credit bureau said the only “credit score” that matters is the one your lender uses to evaluate you, not some random score you got on a website.
Morgan Stanley: The Bull Market in Commercial Real Estate is About to End
Business Insider, Mar. 27, 2017–Akin OyedeleThe commercial real estate market is showing cracks and will peak this year, Morgan Stanley analysts forecast.
Dear Lenders, We Critically Need More Young Talent in Mortgage Finance
HousingWire, Mar. 29, 2017–Brena SwansonTech world lenders and vendors filled the expo hall at the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo, but there was one element clearly lacking: young professionals, commonly dubbed Millennials.
Foreclosure Error Cost BofA $46 Million
Sacramento Bee, Mar. 29, 2017–Richard ChangBank of America Corp. was told to pay a $46 million judgment last week after it wrongfully foreclosed on a Lincoln, Calif. couple during the recession.
Mortgage Complaints Down as Overall Complaints Up
Mortgage Daily, Mar. 29, 2017In its Monthly Complaint Report, the Consumer Financial Protection Bureau reported 26,262 financial services complaints filed in February. Mortgage complaints fell to 3,715 in February from 4,195 in January.
U.S. Earned $22 Billion from Bank Bailouts
Mortgage Daily, Mar. 29, 2017The Troubled Asset Relief Program, created to bail out the nation’s banks during the financial crisis has earned nearly $22 billion for U.S. taxpayers.
Is a 50-Year Mortgage a Good Move?
Atlanta Journal-Constitution, Mar. 30, 2017–Scott SheldonA 50-year mortgage may be an option, but there are also considerable drawbacks.
Demand for Homes Remains Strong, But Supply is Lacking: Redfin
National Mortgage News, Mar. 29, 2017–Brad Finkelstein (subscription)February’s consumer demand for housing was the strongest ever for that month, but a lack of supply will likely leave many disappointed.