National Mortgage News, Nov. 6, 2015–Collins, Brian
While the overwhelming majority of Nationstar Mortgage Holding’s $4.9 billion in home loan originations in the third quarter were conventional loans, that will be changing soon if the company’s chief executive officer has his way.
News OK (Okla.), Nov. 6, 2015–Harney, Kenneth R.
Bottom line: If your appraisal doesn’t square with the contract or threatens the deal, take a hard look at the “adjustments” made inside the appraisal on subjective factors such as condition and quality.
New York Times, Nov. 6, 2015–Prevost, Lisa
The upward trajectory of rents in many metropolitan areas, which shows no sign of abating, often makes homeownership the better deal. But renters still aren’t rushing to buy.
HousingWire, Nov. 6, 2015–Lane, Ben
In an effort to protect potential homeowners, Freddie Mac is issuing a warning to buyers and lenders about scams that offer the promise of a raised credit score in exchange for money.
Reuters, Nov. 6, 2015–Schneider, Howard
Debate within the U.S. Federal Reserve will quickly turn to the appropriate pace of monetary policy tightening after an initial rate hike, a battle that may be fought in an environment of unexpectedly higher inflation, St. Louis Fed President James Bullard said on Friday.
New York Times, Nov. 7, 2015–Saul, Stephanie
White-collar criminals are employing a variety of schemes to snatch properties from their owners. Often, they use the secrecy afforded to shell companies to rent out vacated properties until they are caught or sell them to third parties.
HousingWire, Nov. 6, 2015–Lane, Ben
In addition to having the Consumer Financial Protection Bureau monitoring lenders’ compliance with its new TILA-RESPA Integrated Disclosures rule, the Office of the Comptroller of the Currency told lenders Friday that it will soon be starting its initial examinations of compliance with the TRID rules.
HousingWire, Nov. 6, 2015–Lane, Ben
For the first time since Fannie Mae and Freddie Mac first established a benchmark interest rate for the standard mortgage modification programs in Jan. 2012, the rate is about to be lower than 4%.
Wall Street Journal, Nov. 9, 2015–Dendrinou, Victoria
Global financial regulators published new rules that aim to stop banks from becoming “too big to fail,” to prevent a repeat of the 2008 financial crisis, when taxpayers had to bail out banks whose collapse would have threatened large-scale financial panic.
Bloomberg, Nov. 9, 2015–Turner, Adair
Left to themselves, banks and shadow banks are bound to create too much of the wrong sort of debt and leave economies facing severe debt overhangs. That raises the question: How can we prevent excessive credit creation?
