The Lede
Top National News
How a Fed Rate Hike Could Affect Your Wallet
Washington Post, Dec. 18, 2016--Marte, Jonnelle; Orton, Kathy
Mike Fratantoni, chief economist at the Mortgage Bankers Association, is predicting home loan rates won't go up much more than they already have.
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‘It Shouldn’t Be This Hard:’ Homeowners Battle Red Tape, Mortgage Companies’ Miscommunications to make Flood Repairs
The Advocate (Baton Rouge, La.), Dec. 19, 2016--Griggs, Ted
Consumers have filed 35 written complaints related to flooding with the Louisiana Office of Financial Institutions. The agency also has received 54 flood-related calls from consumers naming a specific mortgage lender or servicer, but those callers have yet to file written complaints.
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2017 Housing Market Forecasts–Suburbs are In, Low Mortgage Rates are Out
Washington Post, Dec. 19, 2016--Orton, Kathy
Most observers expect home sales and prices to moderate in the coming year. They say suburbs will make a comeback while the days of low mortgage rates are over. The Mortgage Bankers Association predicts mortgage rates will rise slightly but remain low, purchase applications will increase and refinance applications will decrease.
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Refi Slump Overcomes Purchase Boost, Jumbo Soars
Mortgage Daily, Dec. 16, 2016
A deceleration in new mortgage refinance activity more than offset a week-over-week increase in purchase financing. New jumbo business, however, moved solidly higher.
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October Mortgage Originations Very Strong
Mortgage Daily, Dec. 16, 2016
U.S. mortgage banking firms originated 916,958 residential loans with an aggregate principal balance of $242.8 billion in October, the Consumer Financial Protection Bureau reported.
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Is Washington the Next Hottest Housing State?
HousingWire, Dec. 16, 2016--Swanson, Brena
Washington's housing markets recently dominated a monthly market report from Pro Teck Valuation Services. Five of the top 10 performing markets in the country in November were in Washington.
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PHH to Shutter N.Y. Office, Lay Off 80
National Mortgage News, Dec. 16, 2016--Passy, Jacob
PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.
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Trump Team Narrows List for Next FHA Commissioner
National Mortgage News, Dec. 16, 2016--Collins, Brian
According to sources familiar with the situation, the Trump team is weighing Edward Brady, an Illinois home builder, and Debra Still, president and chief executive of Pulte Mortgage and a former chairman of the Mortgage Bankers Association, as FHA commissioner.
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Times Square Landlords Seek Tenants With ‘Experience’
Wall Street Journal, Dec. 18, 2016--Morris Keiko
Times Square's flashy retail scene is known for its hordes of tourists drawn to Broadway shows, mass-market shopping options and kitsch. But asking rents have plunged 18% as more shopping moves online. That has prompted landlords to seek out more "experiential retail," such as food and entertainment venues, and more interactive elements in stores.
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Rising Rates Ripple Through Mortgage Market
Wall Street Journal, Dec. 17, 2016--Andriotis, Annamaria
The Federal Reserve's decision to raise the federal-funds target rate by a quarter of a percentage point Wednesday means borrowing is about to get more expensive for consumers.
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There’s a Big Fight Brewing Over the Mortgage-Interest Tax Deduction
The Fiscal Times, Dec. 16, 2016--Scotti, Ciro
A tax-reform proposal by House Republicans that would make the mortgage-interest deduction moot for most Americans is starting to set off alarm bells across the housing, lending and real estate industries.
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Tom Perkins’s Penthouse in Sinking Millennium Tower Sells
Wall Street Journal, Dec. 16, 2016--Taylor, Candace
Buyer Craig Ramsey said he paid a 'very reasonable' $13 million for the unit in the San Francisco building, which has been beset by reports that it is sinking and tilting.
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Why Dems May Have Hard Time Stopping Mnuchin Nomination
National Mortgage News, Dec. 16, 2016--McKendry, Ian
Although Steven Mnuchin has close ties to Wall Street and was involved in some contentious deals, Democrats face an uphill battle making the case that those connections disqualify him to serve as Treasury secretary.
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Housing Starts Sink as Home Prices Soar
National Mortgage Professional, Dec. 16, 2016--Hall, Phil
Housing starts took something of a tumble last month, according to new data from the U.S. Census Bureau and HUD.
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Exceptions to the Zoning Rules
UExpress, Dec. 16, 2016--Sichelman, Lew
Zoning has often been described as a necessary evil. While it is meant to promote order, the strict application of ordinances can render a property practically useless.
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Bullard Raises Rate View, Wants Fed to Consider Shrinking Balance Sheet
Wall Street Journal, Dec. 16, 2016--Derby, Michael S.
St. Louis Fed president says the rise in bond yields has led him to change his interest-rate outlook.
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U.S. Home Construction Lags Behind Broad Economic Rebound
Wall Street Journal, Dec. 16, 2016--Kirkham, Chris
Sparse building of new single-family houses remains an impediment to balanced recovery.
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Lender Optimism Plunges with Rising Rates
Scotsman Guide, Dec. 16, 2016--Whitman, Victor
Lenders were downbeat about the outlook for home purchases and refinance activity over the next three months as key rates have climbed above 4 percent, Fannie Mae's most recent survey of lenders indicates.
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New from the CFPB: Here are the Latest Credit Trends in Mortgages
HousingWire, Dec. 16, 2016--Swanson, Brena
Mortgage originations boomed this fall as volume surged higher from August to October compared to last year, according to the first-ever Consumer Credit Trend report from the Consumer Financial Protection Bureau.
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