Category: Top National News

National Mortgage News, Aug. 27, 2015–Peters, Andy
HUD policies governing the Home Equity Conversion Mortgage program failed to detect instances where borrowers failed to comply with residency requirements,  a report said.

HousingWire, Aug. 27, 2015–Swanson, Brena
Marix Servicing, an affiliate of Walter Capital Opportunity, received approval from Freddie Mac to hold mortgage-servicing rights, marking the first of many more to come.

Bloomberg, Aug. 27, 2015–Condon, Christopher
The Federal Reserve Bank of Kansas City opened its annual policy summit Thursday evening at the scenic retreat outside Jackson Hole, Wyoming, drawing central bankers from around the world for a high-powered debate on inflation.

Reuters, Aug. 27, 2015
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 271,000 for the week ended Aug. 22, the Labor Department said on Thursday.

Reverse Mortgage Daily, Aug. 27, 2015–Ecker, Elizabeth
Based on market cycles, census data and other study factors, the Mortgage Bankers Association (MBA) delved into the housing outlook over the next decade to find that “By 2024, demographic and economic changes will bring what could be one of the largest expansions in the history of the U.S. housing market–15.9 million additional households.”

HousingWire, Aug. 27, 2015–Lane, Ben
In 2013, Kevin Taylor left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.

Wall Street Journal, Aug. 27, 2015–Jackson, Candace
In the San Francisco Bay Area, selling a house is easy. The trick is getting $100,000 or more over the asking price.

Washington Post–Harney, Kenneth R.  
If you’ve got a low FICO credit score but believe you can handle monthly mortgage payments instead of rent, the government is willing to give you a better shot at obtaining a low-down-payment home loan from the Federal Housing Administration. David Stevens, president and chief executive of the Mortgage Bankers Association and a former head of FHA, says the revised policy should help some borrowers whose FICO scores in the low 600s and upper 500s have barred them from obtaining any type of mortgage.

CNBC–Olick, Diana
Mortgage applications barely moved last week, as interest rates fell very slightly, and expectations for the Federal Reserve to raise rates in September seemed on track. Total volume increased 0.2 percent on a seasonally adjusted basis for the week ending August 21 vs. the week earlier, according to the Mortgage Bankers Association.

Wall Street Journal–Martin, Anya
Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further? The answer in some cases is yes-but usually not much more than with bi-weekly plans.