HousingWire, Feb. 12, 2016–Swanson, Brena
Another batch of mortgage rights hit the market, with a $2.8 billion Fannie Mae, Freddie Mac and Ginnie Mae bulk MSR now for sale.
Category: Top National News
Dudley Says Talk of Negative Fed Rates Is Very Premature
Bloomberg, Feb. 12, 2016–Boesler, Matthew
The U.S. economy has the momentum to help weather stormy global financial markets and policy makers have many other options before they would consider driving borrowing costs below zero if they need to protect growth, Federal Reserve Bank of New York President William Dudley said.
Strong U.S. Consumer Spending Counters Recession Fears
Reuters, Feb. 12, 2016–Mutikani, Lucia
U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.
People Over 50 Carrying More Debt Than in the Past
Wall Street Journal, Feb. 12, 2016–Zumbrun, Josh
Older Americans are burdened with unprecedented debt loads as more and more baby boomers enter what are meant to be their retirement years owing far more on their houses, cars and even college loans than previous generations.
Housing Groups Blast GSEs’ Sale of Bad Loans to Goldman, Hedge Funds
National Mortgage News, Feb. 12, 2016–Berry, Kate
Fannie Mae and Freddie Mac have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.
Household Debt Increases in Fourth Quarter
HousingWire, Feb. 12, 2016–Thompson, Kelsey
Whereas household debt increased during the fourth quarter of 2015, repayment rates improved, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit.
Quick Takes: Builders’ Timeframes, ‘Zombie Debt’ and More
UExpress, Feb. 12, 2016–Sichelman, Lew
You’ve heard of “zombie homes”–those distressed properties abandoned by financially strapped owners, but not yet foreclosed on by lenders. But how about “zombie debt?”
Commercial Mortgages: Evidence of Bullishness Abounds in U.S., Region
Richmond Times Dispatch (Va.), Feb. 14, 2016–Little, Andrew R.
The first week of February was the annual Mortgage Bankers Association convention in Orlando, where about 5,000 industry professionals from all walks of the commercial lending world converged. The themes were hard to miss: Most conduit lenders made money in the first half of 2015 and then spent the second half trying not to lose it.
Here’s Why States Should Choose Not to Regulate Appraisal Management Companies
HousingWire, Feb. 15, 2016–Simmons, Matt
Across the country, state legislatures and appraisal licensing boards are grappling with the decision of whether or not to regulate–and if so, how–Appraisal Management Companies.
Janet Yellen: Negative Rates Possible in U.S.
CNN, Feb. 11, 2016–Long, HeatherFederal Reserve chair Janet Yellen said at a Congressional hearing Thursday that she would not take negative interest rates off the table.