National Mortgage News, May 19, 2016–Clozel, Lalita
The Federal Deposit Insurance Corp. on Thursday won the right to pursue a lawsuit against several large financial institutions accused of selling tainted mortgage securities to a company that has since failed.
HousingWire, May 19, 2016–Lane, Ben
On Thursday, Rep. Maxine Waters, D-Calif., introduced the new legislation, the Comprehensive Consumer Credit Reporting Reform Act of 2016, which would, according to Waters’ office, “overhaul the American credit reporting system so that it is fairer, more accurate and less confusing for consumers.”
HousingWire, May 18, 2016–Lane, Ben
In a week that saw mortgage interest rates hit the lowest level in three years, mortgage applications actually dropped, according to the latest data from the Mortgage Bankers Association.
Associated Press, May 18, 2016
Federal Reserve officials believe that an interest rate hike is likely at the central bank’s next meeting in June if the economy keeps improving.
HousingWire, May 18, 2016–Swanson, Brena
What’s presumed to be the hottest buying season of the year isn’t shaping up to that this year due to a flurry of factors that are growing into the “perfect storm” to hinder housing, said Kevin Golden, director of analytics with a la mode, at the Mortgage Bankers Association’s Secondary conference in New York City.
National Real Estate Investor, May 18, 2016–Mattson-Teig, Beth
Higher caps for Fannie Mae and Freddie Mac will deliver some welcome liquidity to a still booming multifamily investment market.
Forbes, May 18, 2016–Moreno, Hugo
Commercial real estate executives appear relatively optimistic about the general state of
 the market in 2016, with many predicting higher than average deal volumes for their firms.
San Diego Union-Tribune, May 18, 2016–Editorial Board
The cost of housing is so high in urban areas of California that paying for rent or a mortgage routinely eats up half of a household’s income, or more, visiting desperation not just on the working poor but increasingly the middle class.
Wall Street Journal, May 18, 2016–Stevens, David
MBA President and CEO David Stevens, CMB, argues that traditional banks have pulled back from the mortgage lending business, primarily due to the federal government’s onerous enforcement regime that is extracting hundreds of millions of dollars in fines and settlements. “Borrowers are fortunate to have well-capitalized and well-regulated independent mortgage banks ready to plug the gap,” he said.
Vanity Fair, May 18, 2016–Kosoff, Maya
Luxury-home sales in Silicon Valley had been propped up by tech executives flush with cash after initial public offerings, and foreign buyers. But now, in the wake of tumultuous times for global financial markets, including China’s slowing economy, luxury-home sales across the country have slowed.
