Wall Street Journal, Oct. 25, 2015–Zeng, Min
The global economy’s troubles are casting a long shadow over this week’s Federal Reserve meeting.
Category: Top National News
PACE Loans Interfere With Home Sales
Green Building Elements, Oct. 25, 2015–Hanley, Stephen
Because the PACE loan is included in the taxes on the property, it has priority over the first mortgage in the event of default. “There is a general principle in mortgage banking: first in time, first in line,” said Pete Mills, senior vice president with the Washington-based Mortgage Bankers Association. “Taxing authorities are always a risk of jumping ahead, but that’s a far different matter than a private company selling energy improvements being able to jump ahead.”
Mortgage Rates Pushed Down After Declines in Bond Yields
Washington Post, Oct. 22, 2015–Orton, Kathy
Mortgage rates dipped this week after declines in Treasury yields, but they could be headed back up again.
What to Expect from the Housing Market this Fall
Albuquerque Journal (N. Mex.), Oct. 22, 2015–Ponder, Crissinda (Bankrate.com)
Mortgage credit availability has increased, meaning that lending standards have somewhat loosened for most of 2015, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index.
Freddie CEO Subtly Fires Back at Administration Remarks
Mortgage News Daily, Oct. 22, 2015–Swanson, Jann
The timing of Freddie Mac CEO Donald Layton’s column indicates it was intended as a bit of a counterpoint White House officials’ remarks at the recent MBA Annual Convention.
Labor Shortages Trip Up Big Home Builders
Wall Street Journal, Oct. 22, 2015–Hudson, Kris
Construction-labor shortages are starting to dent the results of large home builders.
Title Insurers Think TRID Will Hurt Business in 4Q
National Mortgage News, Oct. 22, 2015–Finkelstein, Brad
A pair of title insurers expect to suffer from TRID implementation hangover in the fourth quarter as the slowdown in mortgage applications related to implementation will affect them as well.
Ocwen Fails Four Servicing Tests But Makes Progress: Settlement Monitor
National Mortgage News, Oct. 22, 2015–Berry, Kate
Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014 but is “beginning to show progress” in fixing its problems, said Joseph A. Smith Jr., the monitor of the $25 national mortgage settlement.
New Data Finds a Partly Sunny Housing Climate
National Mortgage Professional, Oct. 22, 2015–Hall, Phil
Latest housing data offers a very mixed picture, with homeownership numbers showing a two-steps-forward/one-step-back environment while the multifamily sector continues to reap the benefits of a fast-growing rental scene.
Leading Economic Indicators in U.S. Fall by Most in Seven Months
Bloomberg, Oct. 22, 2015–Jamrisko, Michelle
The index of U.S. leading economic indicators dropped in September by the most in seven months as slowing global growth weighed on stock prices and factory orders.