Wall Street Journal, Feb. 21, 2017–Aaron Back (subscription)Investors suing the government over its management of Fannie Mae and Freddie Mac suffered a stinging defeat on Tuesday. The court ruling largely settles one significant question about the companies’ future, but their ultimate fate remains unclear.
Category: Top National News
Fannie Mae’s Support of Invitation Homes’ IPO Boosts SFR Market
GoRion, Feb. 17, 2017–Kerry CurryFannie Mae’s backing of Invitation Homes’ recently completed IPO bodes well for the future of the single-family rental market as the government-sponsored enterprise’s decision to securitize a $1 billion loan adds an important layer of credibility.
Goldman Sees U.S. Mortgage Rates up 150 Basis Points by 2019
Reuters, Feb. 17, 2017–Richard LeongGoldman Sachs analysts said on Friday that they expect 30-year conventional mortgage rates to rise 150 basis points to about 5.5 percent by 2019 in step with an increase in benchmark Treasury yields and investors demanding higher compensation to own mortgage-backed securities.
How the Drop in Oil Prices is Affecting Commercial Real Estate
National Real Estate Investor, Feb. 17, 2017–Patricia KirkFalling energy prices and energy-sector jobs have had a major impact on hotel stays and the oil-related financial sector in some cities as well as industrial occupancy in some states with a heavy dependence on oil.
MBA Appoints Quicken Loans, Black Knight Execs to MISMO Board
Mortgage Professional America, Feb. 17,2017–Anna SobrevinasThe Mortgage Bankers Association appointed Quicken Loans’ Pete Carroll and Black Knight’s Andy Crisenberry to its Mortgage Industry Standards Maintenance Organization’s board of directors.
MBA Forecast for Economy: Lookin’ Good!
National Mortgage Professional, Feb. 17, 2017–Phil Hall”We’re expecting steady, modest growth in the U.S. economy,” said MBA Vice President of Research & Economics Lynn Fisher at the MBA National Mortgage Servicing Conference & Expo. “We’re seeing real economic growth in a number of indicators.”
U.S. Mortgage Payments as a Share of Income Just Hit a 7-Year High
MarketWatch, Feb. 17, 2017, 2017–Alessandra MalitoMortgage payments make up the biggest chunk of U.S. homeowners’ income since 2010, reported Zillow.
Fannie Mae Reports $5 Billion in 4Q Net Income
National Mortgage News, Feb. 17, 2017–Jacob Passy (subscription)Fannie Mae reported higher net income in the fourth quarter over the previous year.
Altisource Portfolio Solutions to Pay $32 Million to Settle Class Action Suit over Ocwen Relationship
HousingWire, Feb. 17, 2017–Ben LaneWhen Altisource Portfolio Solutions filed its 10-K yearly filing with the Securities and Exchange Commission earlier this week, the company revealed that the Consumer Financial Protection Bureau is looking into the company’s relationship with Ocwen Financial.
Trump’s In-Laws May Put Fannie Mae, Freddie Mac in Tough Spot
Bloomberg, Feb. 17, 2017–Joe LightKushner Cos. has apartment buildings from New Jersey to Maryland with more than $500 million in government-backed mortgages financed by Fannie Mae and Freddie Mac. That could put officials at those agencies in an awkward spot: If Kushner Cos. applies for a new loan, or wants to refinance, would Freddie turn them down? If Kushner Cos. fails to comply with the terms of a loan, will Fannie seek to foreclose on a property owned by the president’s in-laws?