National Real Estate Investor, Feb. 17, 2016–Beth Mattson-Teig
Although life companies are known for playing it safe when it comes to lending on commercial real estate, that narrow box hasn’t stopped them from doing big business in the space lately.
MarketWatch, Feb 17, 2016–Goldstein, Daniel
The Flint real-estate market had long been depressed after the loss of many jobs in the nearby auto industry. The water poisoning crisis at the end of December dropped selling prices to $30,700, according to Zillow.com. “The difficult issues raised in Flint go beyond just Fannie and Freddie, but essentially they revolve around the balance between protecting the health of borrowers without decimating home values in an area that is already facing serious struggles,” said David Stevens, president of the Mortgage Bankers Association.
CNBC, Feb. 17, 2016–Olick, Diana
Total mortgage applications jumped 8.2 percent on a seasonally adjusted basis last week from the previous week, according to the Mortgage Bankers Association. Refinances were entirely behind the gains, increasing 16 percent for the week.
Wall Street Journal, Feb. 17, 2016–Mitchell, Josh
U. S. industries ramped up production in January as strong car sales helped buffer factories against a global economic slowdown, but the outlook remains muddied.
Reuters, Feb. 17, 2016–Mutikani, Lucia
U.S. producer prices unexpectedly rose in January as margins for wholesale machinery and equipment increased, but lower energy prices and a strong dollar continue to keep inflation in check.
Bloomberg, Feb. 17, 2016–Mulholland, Sarah
Wall Street firms are readying themselves for new rules aimed at requiring them to eat what they cook. A provision of the 2010 Dodd-Frank law that takes effect in December forces banks to keep a stake in the commercial-property loans they package into securities and sell off to investors.
National Mortgage Professional, Feb. 17, 2016–Grant, RickMortgage Bankers Association Vice-Chairman J. David Motley, CMB., president of Colonial Savings F.A., focused on the high cost of loan servicing and its correlation to increased regulatory oversight at the MBA National Mortgage Servicing Conference and Expo 2016.
Associated Press, Feb. 18, 2016
A new program is expected to allow qualified buyers to receive separate mortgages to purchase and do repairs on homes in Detroit.
Scotsman Guide, Feb. 16, 2016–Whitman, Victor
Since this past summer, mortgage servicers have been at greater risk of getting slapped with a class-action lawsuit or stiff fines for making unwanted robo calls, legal analysts say. In February, the Mortgage Bankers Association wrote to several housing regulators, pointing out the conflicts created by federal policy on autodial calls.
National Mortgage News, Feb. 16, 2016–Whalen, Christopher
As commercial banks retreat from many markets that banks entered in the 1990s and 2000s, nonbanks are going to take up the slack and grow into many areas of consumer finance.
