National Mortgage News, Feb. 5, 2016–Finkelstein, Brad
Genworth’s U.S. mortgage insurance business earned $179 million in 2015, but the parent company lost $615 million as it still has problems with its long-term care insurance product.
Category: Top National News
Record Year Ahead for Commercial, Multifamily Originations
Commercial Property Executive, Feb. 5, 2016–Murray, Barbra
Commercial and multifamily mortgage originations will reach new heights in 2016, according to a new report by the Mortgage Bankers Association. MBA expects originations to total a record $511 billion this year.
New Mortgage Companies Have Ties with Subprime Lenders
Los Angeles Times, Feb. 6, 2016–Koren, James Rufus
Consumer advocates worry that the new crop of mortgage companies, particularly those with ties to now-defunct subprime lenders, may again take advantage of borrowers.
Employment at Nonbank Mortgage Lenders Surpasses 300,000
National Mortgage News, Feb. 5, 2016–Collins, Brian
The nonbank mortgage sector ended 2015 with 12,300 more full-time employees than in December 2014.
New York Real Estate Developer John Tishman Dies at Age 90
Associated Press, Feb. 6, 2016
A builder whose company worked on the World Trade Center in New York City, the Century City complex in Los Angeles and Walt Disney’s EPCOT center in Florida among other high-profile developments has died. John Tishman was 90.
Tips For Avoiding Closing Delays
UExpress (Universal Syndicate), Feb. 1, 2016–Sichelman, Lew
Lenders and their vendors had almost two years to figure out how to combine the old requirements from the Truth in Lending Act (TILA) and the Real Estate Settlement and Procedures Act (RESPA) into the new TILA-RESPA Integrated Disclosure, or TRID, forms. But they’re still having trouble.
Pepperdine Launches Executive Certificate in Commercial Real Estate
Malibu Times, Feb. 7, 2016–Giacobbe, Katie
Pepperdine University launched a six-month Executive Certificate in Commercial Real Estate program on Feb. 1. Designed for working professionals, the the curriculum is based on Mortgage Bankers Association training and includes five real estate courses and one elective course.
Negative Rates in US? Here’s Why It Could Happen
CNBC, Feb. 4, 2016–Cox, Jeff
Less than two months after the Fed enacted its first rate hike in more than nine years, market talk already has turned to whether the central bank’s future may not be more hikes, but rather negative rates.
Jose Canseco Thinks Japan’s Negative Interest Rates Are ‘Dumb’
CNN, Feb. 4, 2016–Riley, Charles
The Japanese central bank’s recent decision to take interest rates into negative territory has plenty of detractors. Former Major League Baseball slugger Jose Canseco is one of the more surprising ones.
Freddie Mac: Mortgage Rates Fall Below Expectations
Housing Wire, Feb. 4, 2016–Swanson, Brena
Mortgage rates sank even further, marking the fifth consecutive week of declines amid ongoing market volatility, the latest Freddie Mac Primary Mortgage Market Survey said.