Mortgage Daily, Feb. 2, 2017During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.
Category: Top National News
Donald Trump Plans to Undo Dodd-Frank Law, Fiduciary Rule
Wall Street Journal, Feb. 3, 2017–Michael C. Bender; Damian PalettaPresident Donald Trump on Friday plans to sign an executive action to scale back the 2010 Dodd-Frank financial-overhaul law, in a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis.
The Reality of Unraveling Dodd-Frank
The Hill, Feb. 2, 2017–Ian KatzThe author, with Capital Alpha Partners, says the problem for Trump is that he can’t do it through an executive order. He can use the bully pulpit, but to amend the law he has to go through lawmakers. “There’s no quick fix.”
Fitch: Fannie Mae, Freddie Mac Reform May Be Put on Back-Burner
HousingWire, Feb. 2, 2017–Ben LaneWhile Treasury Secretary nominee Steven Mnuchin’s comments made it clear that the Trump administration views housing finance reform as a high priority, the question is how the Trump administration would go about reforming the complex world of housing finance.
Trump’s First Housing Move Tanks Mortgage Applications 3.2%
CNBC, Feb. 1, 2017–Diana OlickA plunge in applications for government-insured loans was behind a drop in overall mortgage volume last week, the Mortgage Bankers Association reported. “Following the decision to suspend a proposed decrease in the FHA mortgage insurance premium, FHA refinance applications dropped more than 25 percent, while FHA purchase applications fell almost 6 percent,” MBA Chief Economist Michael Fratantoni said.
Rising Interest Rates Likely to Cool Net Lease Prices
National Real Estate Investor, Feb. 1, 2017–Beth Mattson-TeigBuyers vying for net lease investment properties have been paying top dollar to win deals. But an increase in interest rates is already causing cap rates to creep higher and there could be more price adjustments ahead for 2017.
The Long View: The Danger of a Multifamily Mortgage Morass
The Real Deal (N.Y.), Feb. 1, 2017–Konrad PutzierMark Zandi, chief economist with Moody’s Analytics, picked multifamily lending as one of the two greatest near-term risks to U.S. financial institutions (along with automobile loans). And Zandi isn’t alone.
Mortgage Rates Predicted to Rise Modestly in 2017
The Street, Feb. 1, 2017–Ellen ChangMortgage rates have risen steadily since the presidential election but have pulled back in recent weeks and are predicted to increase slightly this year.
U.S. Factory Activity Accelerated to Fastest Pace in More Than Two Years
Wall Street Journal, Feb. 1, 2017–Jeffrey SparshottThe Institute for Supply Management on Wednesday said its purchasing managers index rose to 56.0 in January from 54.5 in December, the highest since November 2014.
Where House Flippers Can Get Financing
Wall Street Journal, Feb. 1, 2017–Robyn A. FriedmanUntil recently, home flippers-investors who buy houses to improve and resell for a quick profit-had few options for financing. Now, traditional lenders and crowdfunding firms are increasingly willing to put up the money.