Washington Post, Sept. 23, 2015–Charron, David
Come Oct. 3, the Consumer Financial Protection Bureau is mandating new forms and regulations for any party involved in a mortgage settlement. This includes buyers, sellers, agents, lenders and title companies.
National Mortgage News, Sept. 23, 2015
The rapidly evolving market for buying and selling distressed mortgage assets has created myriad challenges and opportunities for investors, servicers and portfolio managers.
Wall Street Journal, Sept. 23, 2015–Martin, Anya
All of coastal California is basically insane right now, referring to real estate, of course. Yet government-backed conforming loans are capped at $625,500 in high-priced areas. So unless they can make a substantial down payment to qualify for a Fannie Mae, Freddie Mac or FHA loan, the only way many Californians can finance their mortgage will be a jumbo loan.
HousingWire, Sept. 23, 2015–Garrison, Trey
A new white paper by Amit Seru from the University of Chicago, along with other economists at federal regulatory agencies, provides the first comprehensive analysis of the effects of the Home Affordable Refinancing Program.
HousingWire, Sept. 23, 2015–Swanson, Brena
California’s housing market remains stuck in a standstill, with August’s sales numbers showing a weakening market.
Bloomberg, Sept. 23, 2015–Childs, Mary
Bill Gross said the Federal Reserve needs to raise interest rates as soon as possible, trading some near-term market losses for longer-term stability and a healthier financial system.
Reuters, Sept. 23, 2015–Connor, Michael
Growth in the U.S. manufacturing sector showed no month-over-month change during September, staying at August’s sluggish pace which was the weakest in almost two years, according to an industry report released on Wednesday.
National Real Estate Investor, Sept. 24, 2015–Popovec, Jennifer Duell
Even though the retail sector continues to strengthen, lenders don’t find retail properties as attractive as they find multifamily and industrial assets. Recent research from the Mortgage Bankers Association underscores lender sentiment toward retail properties.
Cleveland Plain Dealer, Sept. 23, 2015–Murray, Teresa Dixon
After years of fanfare, lenders next week must offer new forms to potential borrowers to help them better understand their loan options, understand what size of loan they can afford and shop different loan offers. Bill Cosgrove, CMB, chairman of the Mortgage Bankers Association and CEO of Union Home Mortgage Corp. in Strongsville, Ohio, said the new process will peel off the “mumbo-jumbo” language that for years has intimidated consumers, no matter their level of education.
CNBC, Sept. 22, 2015–Insana, RonThe Federal Reserve is creating a negative-feedback loop with its mixed messages on interest rates and it is messing with the markets.
