HousingWire, Feb. 1, 2016–Swanson, Brena
Black Knight Financial Services’ most recent Mortgage Monitor Report, which is based on data as of the end of December 2015, said that home prices have increased year-over-year for 43 consecutive months. As a result, Black Knight revisited the question of home affordability.
NuWire Investor, Feb. 1, 2016–Miller, Peter
A new proposal floating around Capitol Hill would make it very simple and easy to get a mortgage – and for lenders to originate them. Is there a catch? You bet.
HousingWire Magazine, Feb. 1, 2016–Huso, Deborah
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
HousingWire, Feb. 1, 2016–Barraza, Cynthia
Homeownership rates continue to rise for a second quarter in a row due to job growth and the ability to gain credit. According to the Census Bureau, the share of Americans who own their homes was 63.8% in the fourth quarter, up from 63.4% in the previous three months.
Bloomberg, Feb. 1, 2016–Condon, Christopher
Federal Reserve Vice Chairman Stanley Fischer said it was too difficult to gauge the impact on the U.S. economy from recent turmoil in financial markets and uncertainty over China, leaving policy makers undecided about what to do next.
Reuters, Feb. 1, 2016–Mutikani, Lucia
U.S. manufacturing activity appeared to stabilize a bit in January, but a recovery is unlikely in the near term as factories grapple with a strong dollar and lower oil prices force energy firms to further cut spending.
Chicago Tribune, Feb. 1, 2016–Harney, Kenneth R.
Federal housing policymakers and mortgage lending groups have been talking about expanding access to home loans for greater numbers of creditworthy buyers for more than a year. They call it “opening up the credit box” and insist that it’s an important goal. David Stevens, president and CEO of the Mortgage Bankers Association, argues that Fannie Mae and Freddie Mac automated underwriting systems continue to impose high fees on borrowers with low FICO scores and down payments. Stevens also criticized the Justice Department for effectively discouraging participation in FHA’s low down-payment loans.
National Real Estate Investor, Feb. 1, 2016–Misonzhnik, Elaine
As the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2016 got underway in Orlando this Sunday, some overarching themes about the state of the lending industry emerged from the panel discussions and individual meetings.
Wall Street Journal, Feb. 1, 2016–Grind, Kirsten
Wall Street wants to bring back the “low-doc” loan. These mortgages, which are given to borrowers that can’t fully document their income, helped fuel a tidal wave of defaults during the housing crisis and subsequently fell out of favor.
National Mortgage News, Feb. 1, 2016–Collins, Brian
Key Democratic lawmakers are urging the Department of Housing and Urban Development to tighten its program for selling nonperforming guaranteed loans to ensure servicers have exhausted all loss mitigation options before the loans are sold to private investors.
