HousingWire, Aug. 25, 2015–Swanson, Brena
The government is once again expanding access to credit in an effort to capture a wider audience by making homeownership more available through Fannie Mae’s latest update.
Category: Top National News
Lenders See Edge for FHA in Quest for New Buyers
Origination News, Aug. 25, 2015–Collins, Brian
The Federal Housing Administration’s lower insurance premium – already credited with boosting refinancing and purchase loans – is now seen as giving the agency a possible advantage over competitors in attracting first-time buyers and others with low credit scores.
It’s a Mad, Mad, Mad, Mad Housing World
National Mortgage Professional, Aug. 25, 2015–Hall, Phil
Latest data reports points to a housing world that appears to be going in multiple directions at the same time: Home prices are climbing, but people need to be earning more and more money to afford homes. Furthermore, housing values are declining, yet mortgage bankers are making handsome profits. And it appears that the nation’s healthiest housing markets are primarily concentrated in two states, while Michigan, Ohio and the Northeast have the least healthy housing markets.
Housing Subsidies Reduce Inequality; But Mortgage Tax Breaks Make It Worse
Washington Post, Aug. 25, 2015–Badger, Emily
The primary purpose of housing subsidies is, well, to house people. But by doing so, they serve another end: They effectively boost the incomes of many poor Americans, narrowing inequality.
Five Fed Banks Renew Calls for Discount Rate Hike: Minutes
Reuters, Aug. 25, 2015–Lange, Jason
Five Federal Reserve banks renewed their calls in July for the central bank to raise the rate it charges commercial banks for emergency loans, minutes from the Fed’s discount rate meeting last month showed.
HUD Moves to Officially Revise FHA Lien Pecking Order
HUD announced Monday it intends to require liens created by energy retrofit programs to remain subordinate to loans guaranteed by the Federal Housing Administration. MBA President and CEO David Stevens said the move supports efforts to promote renewable energy solutions for FHA insured homes, but protects the lien priority and lien rights of the first mortgage.
RBS Loses Bid to Toss U.S. Regulator’s Mortgage Bond Lawsuit
Royal Bank of Scotland Group Plc has lost a bid to escape a U.S. regulator’s lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying $32 billion of mortgage-backed securities ahead of the financial crisis.
Appeals Court Affirms FTC Authority Over Corporate Data-Security Practices
A federal appeals court on Monday bolstered the Federal Trade Commission’s power to police corporate cybersecurity, affirming the commission can bring cases against companies for failing to protect customer information.
Blackstone Acquires Majority Stake in Nonbank Lender Stearns
Blackstone Group has acquired a majority stake in the parent company of nonbank mortgage lender Stearns Lending.
Five Reports You Need To Watch Before The Fed’s Next Meeting
August data just became even more important.