HousingWire, Mar. 24, 2017–Brena SwansonThe bureau’s proposed amendments are intended to give lenders needed clarity on their obligations under the law, while promoting compliance with rules intended to ensure consumers are treated fairly.
Category: Top National News
Value of Housing Market Hits 10-Year High
HousingWire, Mar. 24, 2017–Kelsey RamirezThe value of the housing market hit a 10-year high in 2016 as equity reached new levels, according to the Urban Institute’s latest report.
Staving Off Eviction
UExpress, Mar. 24, 2017–Lew SichelmanRep. Keith Ellison, D-Minn., introduced a bill to extend a law that provides relief for renters whose landlords are being foreclosed on. Ellison’s legislation would permanently extend the Protecting Tenants at Foreclosure Act (PTFA), which was enacted in 2009.
U.S. Durable Goods Orders Rose in February, Led by Aircraft
Associated Press, Mar. 24, 2017Greater demand for commercial aircraft helped U.S. businesses increased their orders for long-lasting manufactured goods in February, but a key category that tracks business investment plans slipped slightly.
After the Ides of March
GoRion, Mar. 24, 2017–Donna MitchellAs short-term rates increase, you could see the amount of private label securitization go up a fair amount, said MBA Chief Economist Mike Fratantoni, especially if most mortgage loans on bank balance sheets meet the qualified residential mortgage standards for exemption from the risk-retention rules.
Mortgage Banker CEO Sentenced to Prison
Mortgage Daily, Mar. 24, 2017Aaron Wider of HTFC Corp. was sentenced to 12 years in prison for fraudulent loans on the secondary market.
Mortgage Business Acquisitions Negotiated, Done
Mortgage Daily, Mar. 24, 2017–Sam GarciaA report from Stratmor Group indicates that the number of motivated, well-capitalized prospective buyers of retail origination platforms exceeds the number of sellers.
New Mortgage Activity Slows
Mortgage Daily, Mar. 24, 2017With jumbo loans and adjustable-rate mortgages leading the way, new business retreated on a week-over-week basis. But activity moved higher from a year ago.
Sluggish Housing Recovery Took $300 Billion Toll on U.S. Economy, Data Show
Wall Street Journal, Mar. 26, 2017–Laura Kusisto (subscription)The decline in homeownership rates to near 50-year lows is partly to blame for the U.S. economy’s sluggish recovery from the last recession, new data suggest.
Can Single-Family Rental Mortgages Replace Disappearing Refis?
National Mortgage News, Mar. 24, 2017–Brad FinkelsteinSingle-family homes account for about 60% of the total rental market, with apartment buildings accounting for the remaining inventory, said Rodrigo Lopez, executive chairman of multifamily originator Northmarq Capital, during a residential lending panel at the Regional Conference of Mortgage Bankers Association in Atlantic City, N.J.