Origination News, Aug. 25, 2015–Collins, Brian
The Federal Housing Administration’s lower insurance premium – already credited with boosting refinancing and purchase loans – is now seen as giving the agency a possible advantage over competitors in attracting first-time buyers and others with low credit scores.
National Mortgage Professional, Aug. 25, 2015–Hall, Phil
Latest data reports points to a housing world that appears to be going in multiple directions at the same time: Home prices are climbing, but people need to be earning more and more money to afford homes. Furthermore, housing values are declining, yet mortgage bankers are making handsome profits. And it appears that the nation’s healthiest housing markets are primarily concentrated in two states, while Michigan, Ohio and the Northeast have the least healthy housing markets.
Washington Post, Aug. 25, 2015–Badger, Emily
The primary purpose of housing subsidies is, well, to house people. But by doing so, they serve another end: They effectively boost the incomes of many poor Americans, narrowing inequality.
Reuters, Aug. 25, 2015–Lange, Jason
Five Federal Reserve banks renewed their calls in July for the central bank to raise the rate it charges commercial banks for emergency loans, minutes from the Fed’s discount rate meeting last month showed.
HUD announced Monday it intends to require liens created by energy retrofit programs to remain subordinate to loans guaranteed by the Federal Housing Administration. MBA President and CEO David Stevens said the move supports efforts to promote renewable energy solutions for FHA insured homes, but protects the lien priority and lien rights of the first mortgage.
Royal Bank of Scotland Group Plc has lost a bid to escape a U.S. regulator’s lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying $32 billion of mortgage-backed securities ahead of the financial crisis.
A federal appeals court on Monday bolstered the Federal Trade Commission’s power to police corporate cybersecurity, affirming the commission can bring cases against companies for failing to protect customer information.
Blackstone Group has acquired a majority stake in the parent company of nonbank mortgage lender Stearns Lending.
August data just became even more important.
Barclays’ U.S. economists pushed out their forecast on the timing of a rate increase from the Federal Reserve to March 2016 from their earlier call of September in the wake of recent volatile market conditions due to anxiety about the Chinese economy.
