Mortgage Professional America, Nov. 19, 2015–Chiglinsky, Katherine ; Scully, Matt
Voya Financial Inc.’s Christine Hurtsellers said she’s staying away from new issues of commercial mortgage-backed securities, echoing concerns from Federal Reserve officials and bond graders about loosening underwriting standards in the market.
CNBC, Nov. 18, 2015–Olick, Diana
Home loan borrowers seem undeterred by the highest interest rates in five months, or perhaps provoked by them. This is especially evident among homebuyers. Mortgage application volume increased 6.2 percent last week from a week earlier, according to a survey by the Mortgage Bankers Association.
New York Observer, Nov. 18, 2015–Elkies Schram, Lauren
As the disparity between the haves and the have-nots widens, there is perhaps no better demonstration of that dynamic than in Manhattan’s commercial real estate market. Within the past year, the priciest such sale reached $2.59 billion.
MarketWatch, Nov. 18, 2015–Hoak, Amy
The ranks of real estate appraisers stand to shrink substantially over the next five years, which could mean longer waits, higher fees and even lower-quality appraisals as more appraisers cross state lines to value properties.
Mortgage Professional America, Nov. 18, 2015–Horne, Donald
Though the new disclosures are widely regarded as improvements over the ones they replaced–the traditional good-faith estimates, truth in lending and HUD-1 settlement forms–there have been concerns for months that the reformed process would increase the typical time span between loan application and the final closing. Michael Fratantoni, chief economist for the Mortgage Bankers Association, says regulatory changes have pushed up origination costs.
Associated Press, Nov. 18, 2015
Wells Fargo is moving mortgage servicing operations from Charlotte to Fort Mill, South Carolina.
Fox Business, Nov. 18, 2015–Prial, Dunstan
Recently appointed Dallas Federal Reserve President Rob Kaplan on Wednesday defended the central bank’s cautious approach toward raising interest rates, but suggested it may be time to start lifting.
Wall Street Journal, Nov. 18, 2015–Hilsenrath, Jon
Federal Reserve officials meeting last month anticipated it “could well be” time to raise short-term interest rates at a December policy meeting after keeping them pinned near zero for seven years.
National Mortgage News, Nov. 18, 2015–Witkowski, Rachel
In one instance, a single complaint in the Consumer Financial Protection Bureau’s database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that’s par for the course, leading to inflated complaint numbers and inaccurate data.
National Mortgage News, Nov. 18, 2015–Finkle, Victoria; Heltman, John
The White House threatened to veto two bills–one that would mandate new cost-benefit requirements on the Federal Reserve and the other to allow loans held in portfolio to qualify as a “qualified mortgage.”
