The News & Observer (N.C.), Oct. 20, 2015–Harney, Kenneth R.
It’s been less than an month since the nationwide changeover in mortgage and settlement procedures took effect, but the early results are trickling in: Lenders and brokers say just about everything is taking longer and the costs to homebuyers are moving up.
HousingWire, Oct. 20, 2015–Garrison, Trey
Changes are coming that will make the current Home Mortgage Data Act seriously more complex and complicated, with the drop last week of the proposed rule expanding the data to be reported while revising the formatting and tools involved.
National Mortgage Professional, Oct. 20, 2015–Hall, Phil
In remarks delivered before the Mortgage Bankers Association’s Annual Convention in San Diego, Consumer Financial Protection Bureau Director Cordray insisted that “unsupported hyperbole” surrounding the potential problems connected to the Qualified Mortgage and Ability-to-Repay rules could not obscure the Bureau’s insistence that these changes were necessary.
MarketWatch, Oct. 20, 2015–Goldstein, Daniel
Freddie Mac CEO Donald Layton told an audience at the Mortgage Bankers Association annual convention in San Diego on Monday that the surprise announcement last year by FHFA Director Mel Watt instructing his company and Freddie Mac to buy loans with down payments as low as 3% was a net positive and that more low down payment products could be on their way in the next year or so.
National Mortgage News, Oct. 20, 2015–Finkelstein, Brad
Ginnie Mae’s limited resources are going to be focused on working with its existing issuers, especially those that are not creating new securities, according to its president, Ted Tozer.
Chicago Tribune, Oct. 20, 2015–Marks Jarvis, Gail
Two initiatives announced this week may make it easier for millennials and middle-income homebuyers, who typically have a hard time getting mortgages, to get the financing they need.
DS News, Oct. 20, 2015–Honea, Brian
The composite consumer credit default index tumbled by seven basis points from August to September, driven by substantial declines in both the first and second mortgage default rates, according to S&P Dow Jones Indices and S&P/Experian Consumer Credit Default Indices for September 2015 released Tuesday.
Wall Street Journal, Oct. 20, 2015–Lahart, Justin
Home builders profess themselves a happy lot. But if they don’t start building a lot more houses, their shareholders may not be.
National Mortgage News, Oct. 19, 2015–Collins, Brian
Mortgage Servicers are concerned about capital requirements and compliance costs that are putting the squeeze on profits and particularly small servicers. “That will absorb a lot of capital that won’t be available to support new servicing assets,” said David Stevens, president and chief executive of the Mortgage Bankers Association.
National Mortgage Professional, Oct. 19, 2015–Hall, Phil
The Mortgage Bankers Association swore in its new leadership team at its 102nd Annual Convention & Expo in San Diego. Bill Emerson, CEO of Detroit-based Quicken Loans Inc., was sworn in as chairman for the 2015-16 term.
