National Mortgage News, Mar. 21, 2016–Kilgore, Austin
Todd Sherman, president and co-founder of Motivity Solutions, died unexpectedly March 19. He was 45 years old.
Category: Top National News
Ellie Mae CEO: Initial Discomfort over TRID Now Over
HousingWire, Mar. 21, 2016–Swanson, Brena
Nearly six months after the implementation of TRID and the market finally turned a corner as the time to close all loans decreased to 46 days, which is the shortest time to close since May 2015, said Ellie Mae President and CEO Jonathan Corr.
Utilities: the Forgotten Cost
UExpress, Mar. 18, 2016–Sichelman, Lew
Most homebuyers base what they are going to be spending every month for their new digs on how much they are borrowing and the interest rate they’re paying. But if that’s all they consider, they are missing a big component of their monthly housing costs–their utilities.
TRID’s First Five Months
Builder Magazine, Mar. 18, 2016–Croce, Brian
It’s been more than five months since the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure (TRID) went into effect with the main goal of simplifying the home closing process for consumers. The result–a lot of moving parts.
BlackRock’s Rieder Sees Opportunity in Commercial Mortgage Debt
Bloomberg, Mar. 18, 2016–Willmer, Sabrina
Rick Rieder, chief investment officer of global fixed income at BlackRock Inc., said some securitized debt, including commercial mortgages, is among the most attractive opportunities in an environment of moderating growth.
U.S. Consumer Sentiment Slips in March
Wall Street Journal, Mar. 18, 2016–Sparshott, Jeffrey
Consumer confidence fell in March amid concerns about rising gasoline prices and the broader economy. The University of Michigan preliminary consumer sentiment index for March, released Friday, registered at 90.0, compared with a final February reading of 91.7.
MGM, Dubai World Sell Las Vegas Mall to Simon, Invesco for $1.1 Billion
Wall Street Journal, Mar. 18, 2016–Hufford, Austen MGM Resorts International and Dubai World’s Infinity World Development Corp. will sell a Las Vegas luxury shopping center to mall operator Simon Property Group Inc. and Invesco Ltd. for about $1.1 billion, the latest payoff on a bet to remake the Las Vegas Strip.
Servicers Need More Experienced Points of Contact: Counselors
National Mortgage News, Mar. 18, 2016–Collins, Brian
As servicers downsize their loss mitigation units, housing counselors are finding the companies’ designated points of contact are less experienced, making it more difficult to get packages approved for troubled borrowers.
Fannie Mae Announces Largest Credit Insurance Risk Transfer Deal
HousingWire, Mar. 18, 2016–Swanson, Brena
Fannie Mae announced its first Credit Insurance Risk Transfer transactions of 2016, shifting the credit risk on pools of single-family loans with a combined unpaid principal balance of approximately $19.5 billion to a group of insurers and reinsurers.
Bullard Says Fed’s Goals Largely Met, Rates Should Edge Up
Reuters, Mar. 19, 2016–Jackson, Lucas The U.S. central bank’s inflation and employment goals have essentially been met and it would be “prudent” to edge interest rates higher, St. Louis Fed President James Bullard said on Friday.