National Mortgage Professional, Mar. 15, 2016–Hall, Phil
A coalition of 17 financial and housing trade associations has called on House and Senate leaders to include language in the Fiscal Year 2017 Budget to prevent efforts to use guarantee fees (g-fees) collected by Fannie Mae and Freddie Mac for non-housing purposes. The Mortgage Bankers Association is among the groups.
MultifamilyBiz.com, Mar. 15, 2016
Commercial/multifamily mortgage debt outstanding increased to $2.83 trillion in the fourth quarter, an increase of $59.7 billion, or 2.2 percent, over the third quarter, according to data collected by the Mortgage Bankers Association.
HousingWire, Mar. 15, 2016–Gaffney, Jacob
Less than two years ago, W.J. Bradley’s mortgage ops were bullish. Clearly, W.J. Bradley bet against the house and lost.
Wall Street Journal, Mar. 15, 2016–Borak, Donna
The chairman of the House Financial Services Committee on Tuesday previewed a Republican plan to revamp the 2010 Dodd-Frank financial overhaul law, a proposal that would ease regulations for community banks and mandate a cost analysis of proposed policy changes.
National Mortgage News, Mar. 15, 2016–McKendry, Ian
Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations.
National Mortgage News, Mar. 15, 2016–Collins, Brian
Ginnie Mae needs more and better paid staff to keep up with growing risks on nonbank seller/servicers, the watchdog agency head said.
HousingWire, Mar. 15, 2016–Gaffney, Jacob
Wall street investment bank JP Morgan is putting together a massive residential mortgage-backed securities deal for the private market.
Reuters, Mar. 15, 2016–Mutikani, Lucia
U.S. retail sales fell less than expected in February, but a sharp downward revision to January’s data could reignite concerns about the economy’s growth prospects.
MarketWatch, Mar. 15, 2016–Goldstein, Steve
The ratio of business inventories to sales reached a postrecession high in January, a troubling sign that companies aren’t able to sell what they’ve been producing.
Wall Street Journal, Mar. 15, 2016–Light, Joe
The Federal Housing Administration on Tuesday unveiled a new certification that lenders must attest to when making an FHA-backed mortgage. Mortgage Bankers Association President and CEO David Stevens, CMB, said the changes could “stop the bleeding” of lenders pulling back from the FHA program.
