American Banker, Jan. 31, 2017–Ian McKendryThe trade group released a paper Tuesday outlining a new plan designed to resolve the fate of Fannie Mae and Freddie Mac, which would call for creating several smaller public utilities that would buy federal insurance from the government for securities they issue.
Category: Top National News
New Mortgage Product Increases Ally Financial Net Income in Q4
HousingWire, Jan. 31, 2017–Kelsey RamirezAlly Financial saw a net income increase in the fourth quarter, pushed up slightly by the company’s new direct-to-consumer mortgage, Ally Home.
Banks’ Call for Looser Robo-Call Rules Getting Friendlier Reception
National Mortgage News, Jan 31, 2017–Kevin WackThe newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry’s entreaties.
Cities Could Save Millions of Dollars by Preventing Evictions
Bloomberg, Jan. 31, 2017–Patrick ClarkHousing advocates in New York have been lobbying the city government to set aside millions of dollars to pay attorneys’ fees for tenants facing eviction, arguing that providing legal aid to a poor renter is cheaper than paying for a bed in a homeless shelter.
Fed Unlikely to Make Its Next Rate Move Wednesday
Wall Street Journal, Feb. 1, 2017–David HarrisonThe Federal Reserve is almost certain to hold short-term interest rates steady at its two-day policy meeting that concludes Wednesday.
Featured Industry Leader: Mark Harmon, President, Mortgage Bankers Association of Alabama
National Mortgage Professional, Jan. 30, 2017–Phil HallHarmon, mortgage retail division manager with Renasant Bank, Birmingham, Ala., discusses his involvement in MBAA and the current legislative/regulatory environment.
Veterans Home Loan Program a Model of Stability in Mortgage Industry
OregonLive.com, Jan. 30, 2017–Chris BirkAuthor says stable VA program is providing a springboard for homeownership, particularly for Millennial home buyers.
Americans are Rushing to Get Ahead of Rising Mortgage Rates
MarketWatch, Jan. 30, 2017–Andrea RiquierMost consumers seem to understand that better economic growth comes at the cost of higher interest rates. According to data out Friday, that may be nudging them into the housing market.
New Residential Plans $800M Stock Offering to Pay for Citi MSRs
National Mortgage News, Jan. 30, 2017–Jacob PassyNew Residential Investment Corp. is planning a public offering of more than 49.2 million shares of its stock to pay for its purchase of mortgage servicing rights from CitiMortgage.
Trump’s Bid to Slash Regulations Faces Bureaucratic Roadblocks
Bloomberg, Jan. 30, 2017–Todd Shields; Jennifer A. DlouhyPresident Donald Trump set a daunting goal for government agencies bound by complex procedures, ordering his department heads to kill two regulations for each new one they issue.