HousingWire, Jan. 12, 2016–Lane, Ben
A trio of California foreclosure rescue companies targeted Hispanics with fake loan modifications, offering the false promise of mortgage relief in exchange for thousands of dollars, HUD alleged Tuesday.
Category: Top National News
High U.S. Job Openings Point to Pick-Up in Wage Growth
Reuters, Jan. 12, 2016–Mutikani, Lucia
U.S. job openings rose in November and employers appeared to have trouble finding qualified workers, a trend that could trigger a pick-up in wage growth this year.
Captive Insurance Companies To Lose Federal Home Loan Bank Membership
Wall Street Journal, Jan. 12, 2016–Light, Joe
A top federal housing regulator on Tuesday shut the door on mortgage investors who had been using a loophole to access low-cost, government-backed financing.
Dallas-Fort Worth Shopping Center Vacancies at 3-Decade Low
Dallas News, Jan. 12, 2016–Brown, Steve
Despite challenges of storefront retailing in the e-commerce age, Dallas-Fort Worth shopping center vacancies are starting out 2016 with the lowest vacancy in 31 years.
Housing Regulator Closes Loan Loophole Used by REITs
Wall Street Journal, Jan. 12, 2016–Light, Joe
The Federal Housing Finance Agency said so-called captive insurance companies, which insure the risks of the companies that own them, no longer will be eligible for membership in government-backed federal home loan banks. Mortgage Bankers Association President David Stevens said the rule “removes a vital component of the FHLBank membership which provides liquidity for the real estate finance market.”
Banks Grapple with “High Volatility” CRE Loan Rules
National Real Estate Investor, Jan. 13, 2016–Mattson-Teig, Beth
Banks are wading through the still murky issue of dealing with new Basel III rules related to high volatility commercial real estate loans. we have definitely heard of instances where lending decisions have been impacted by the HVCRE rule,” says George Green, a senior vice president at the Mortgage Bankers Association.
Fannie Mae Borrows Trouble with New Mortgage Program
Las Vegas Review-Journal, Jan. 12
In an editorial, the paper says Fannie Mae’s HomeReady program echoes back to subprime programs that exacerbated the financial crisis of 2008 and should be squelched.
Fed Sent Record $97.7 Billion in Profits to U.S. Treasury in 2015
Wall Street Journal, Jan. 11, 2016–Leubsdorf, Ben
The Federal Reserve handed over a record $97.7 billion in profits to the Treasury Department in 2015, according to preliminary figures released Monday.
CMBS Delinquencies Fell to Six-Year Low: Fitch
National Mortgage News, Jan. 11, 2016–Macheel, Tanaya
The commercial mortgage-backed securities delinquency rate finished 2015 at a six-year low, said Fitch Ratings.
Global Risks are Chief Concern for U.S. Economy: Fed’s Lockhart
Reuters, Jan. 11, 2016–Schneider, Howard
Global risks including a slowdown in China and continued low oil prices are now the chief risks to what is an otherwise promising outlook for the U.S. economy, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday.