HousingWire, Apr. 25, 2016–Swanson, Brena
Despite lack of guidance from the Consumer Financial Protection Bureau, the Structured Finance Industry Group’s due diligence grades provide clarity for investors.
Category: Top National News
Higher Mortgage Fees for Low Down Payments and Credit Scores
The Real Deal (New York), Apr. 22, 2016–Harney, Kenneth
If you’re planning to buy a home with a low down payment, you need to be aware of some important but virtually unpublicized price changes underway in the mortgage market.
Home-Price Surge Stymies First-Time Buyers
Wall Street Journal, Apr. 22, 2016–Kirkham, Chris
Shrinking inventories make housing less affordable just as the crucial spring selling season is heating up.
Developers Are Turning Rust Belt Hulks Into Luxury Hotels
Bloomberg News, Apr. 22, 2016–Clark, Patrick
Developers have started to leverage adaptive reuse over the past three years, leading to creative conversions across the U.S., often from vacant or underutilized office buildings to full-service, lifestyle and select-service hotels.
Not-So-Close Call: Bankers Face Stricter Pay Rules
Housing Wire, Apr. 22, 2016–Gaffney, Jacob
Small, work-from-home loan originators at some credit unions dodged the latest regulatory attempt to force them them to open commercial offices. Wall Street bankers, however, aren’t as lucky.
SunTrust Rides Strong Mortgage Performance to Increase Income in Q1
Housing Wire, Apr. 22, 2016–Ramirez, Kelsey
SunTrust’s first-quarter revenue rose 5.4 percent to $2.1 billion. The bank’s mortgage production income for the current quarter was $60 million compared to $53 million for the prior quarter.
Senate Appropriators Reject FHA Lender Fee
National Mortgage News, Apr. 22, 2016–Collins, Brian
Senate appropriators approved $13 million in new funding to update the Federal Housing Administration’s “outdated and unautomated” information technology systems, but rejected President Obama’s proposed way of paying for it.
Mortgage Matters: Downpayment Options May Make Homeownership a Reality
Virginian-Pilot, Apr. 23, 2016–Rockefeller, Steve
Surveys show that 40 percent of repeat buyers and 66 percent of first-time homebuyers put less than 10 percent down. Understanding all of your low-down-payment mortgage options may aid you in obtaining a mortgage while helping to save money.
Department Stores Need to Cull Hundreds of Sites, Study Say
Wall Street Journal, Apr. 24, 2016–Kapner, Susan
Department stores need to close hundreds of locations if they want to regain the productivity they had a decade ago, according to new research from Green Street Advisors. The real-estate research firm estimates that the closures could include nearly 800 department stores, or about a fifth of all anchor space in U.S. malls.
HUD Reaches Agreement with Fidelity Over Unfair Lending Allegations
National Mortgage News, Apr. 22, 2016–Passy, Jacob
HUD said Friday that an agreement was reached between Fidelity Bank and the Fair Housing Project of North Carolina Legal Aid.