Wall Street Journal, Oct. 8, 2015–McLaughlin, Katy
In Los Angeles, an abode that has housed generations of Hollywood legends can be the ultimate status symbol, but there are complications when it is time to sell.
Category: Top National News
White House Absolutely Wrong to Threaten Veto of TRID Bill
HousingWire, Oct. 7, 2015–Garrison, Trey
Concerns about TRID enforcement go beyond the scope of the broader hand the CFPB has generously offered the industry. David Stevens, President and CEO of the MBA, says there’s a domino effect to the hold-harmless policy.
Mortgage Applications Surge 25% on Regulation Worry
CNBC, Oct. 7, 2015–Olick, Diana
Total mortgage application volume surged 25.5 percent on a seasonally adjusted basis for the week ending October 2nd compared to the previous week, according to the Mortgage Bankers Association.
Did TRID Fuel the Corybantic Uptick in Mortgage Apps?
National Mortgage Professional, Oct. 7, 2015–Hall, Phil
Last week was an unusually frenetic week for loan applications, according to new data from the Mortgage Bankers Association–but the cause of this commotion appears to be based almost exclusively in the arrival of new regulatory demands on lenders and not on any identifiable improvement in either housing or the wider economy.
MBA Regulatory Compliance Conference Speech
Mortgage Compliance Magazine, October, Page 31–Stevens, David
MBA President and CEO David Stevens addressed an audience of 900+ of the nation’s Regulatory Compliance Professionals and other industry professionals at the MBA Regulatory Compliance Conference that was held at Grand Hyatt Hotel in Washington, D.C.
It’s Getting Harder to Get a Mortgage–And That’s a Bad Sign for the Economy
Business Insider, Oct. 7, 2015–Shen, Lucinda
It is getting hard to get a mortgage, and that is weighing down the US economy. That is according to a Deutsche Bank note out Tuesday.
Ben Bernanke Says Fed Decision Not to Raise Rates Was ‘Reasonable’
Wall Street Journal, Oct. 7, 2015–Derby, Michael S.; Hilsenrath, Jon
The Federal Reserve made a reasonable decision to hold off on raising short-term interest rates at its September policy meeting, its former chairman, Ben Bernanke, said Wednesday.
Consumer Confidence in Housing Market Rose in September
Origination News, Oct. 7, 2015–Peters, Andy
Consumer confidence in the housing market rose in September, after dipping in the summer, according to a new Fannie Mae report.
Fannie, Freddie Ease Rules for Mortgage Lenders
Wall Street Journal, Oct. 7, 2015–Light, Joe
Mortgage lenders on Wednesday received new assurances from mortgage-finance giants Fannie Mae and Freddie Mac that they won’t be slammed with onerous penalties for what they say are relatively minor errors made when underwriting loans. MBA President and CEO David Stevens said the GSEs’ actions “will add additional clarity to the broad lending community, which should help lenders’ confidence to lend.”
Consumer Borrowing in U.S. Rises at Slowest Pace in Six Months
Bloomberg, Oct. 7, 2015–Golle, Vince
Consumer borrowing rose in August at the slowest pace in six months, reflecting a cooling in lending for autos and education, the Federal Reserve reported Wednesday.