The Lede
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Commercial Mortgage Segment Ended 2015 with a Bang
National Mortgage Professional, Feb. 1, 2016--Hall, Phil
Last year ended with a bang for the commercial mortgage segment, according to new data released by the Mortgage Bankers Association.
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MBA Convention Kicks Off With Wells Fargo Named Top Mortgage Servicer for 2015
REBusiness, Feb. 1, 2016--Cannon, Christina
Wells Fargo Bank N.A. was the top commercial and multifamily mortgage servicer by volume for all of 2015, according to the Mortgage Bankers Association.
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Black Knight: Will Homebuying Become Unaffordable in Two Years?
HousingWire, Feb. 1, 2016--Swanson, Brena
Black Knight Financial Services' most recent Mortgage Monitor Report, which is based on data as of the end of December 2015, said that home prices have increased year-over-year for 43 consecutive months. As a result, Black Knight revisited the question of home affordability.
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Should Portfolio Mortgages Face Fewer Regulations?
NuWire Investor, Feb. 1, 2016--Miller, Peter
A new proposal floating around Capitol Hill would make it very simple and easy to get a mortgage - and for lenders to originate them. Is there a catch? You bet.
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Global Reach: Exploring Risks and Rewards of Offshore Mortgage Servicing
HousingWire Magazine, Feb. 1, 2016--Huso, Deborah
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
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Homeownership Finally Rising after Decade of Decline
HousingWire, Feb. 1, 2016--Barraza, Cynthia
Homeownership rates continue to rise for a second quarter in a row due to job growth and the ability to gain credit. According to the Census Bureau, the share of Americans who own their homes was 63.8% in the fourth quarter, up from 63.4% in the previous three months.
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Fischer Says Fed’s Next Decision Unclear Amid Global Uncertainty
Bloomberg, Feb. 1, 2016--Condon, Christopher
Federal Reserve Vice Chairman Stanley Fischer said it was too difficult to gauge the impact on the U.S. economy from recent turmoil in financial markets and uncertainty over China, leaving policy makers undecided about what to do next.
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U.S. Factory Activity Edges Up; Momentum Remains Weak
Reuters, Feb. 1, 2016--Mutikani, Lucia
U.S. manufacturing activity appeared to stabilize a bit in January, but a recovery is unlikely in the near term as factories grapple with a strong dollar and lower oil prices force energy firms to further cut spending.
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The ‘Credit Box’ Needs to Open a Little More to Meet Goal
Chicago Tribune, Feb. 1, 2016--Harney, Kenneth R.
Federal housing policymakers and mortgage lending groups have been talking about expanding access to home loans for greater numbers of creditworthy buyers for more than a year. They call it "opening up the credit box" and insist that it's an important goal. David Stevens, president and CEO of the Mortgage Bankers Association, argues that Fannie Mae and Freddie Mac automated underwriting systems continue to impose high fees on borrowers with low FICO scores and down payments. Stevens also criticized the Justice Department for effectively discouraging participation in FHA's low down-payment loans.
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10 Takeaways from the MBA-CREF 2016 Convention
National Real Estate Investor, Feb. 1, 2016--Misonzhnik, Elaine
As the Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2016 got underway in Orlando this Sunday, some overarching themes about the state of the lending industry emerged from the panel discussions and individual meetings.
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Crisis-Era Mortgage Attempts a Comeback
Wall Street Journal, Feb. 1, 2016--Grind, Kirsten
Wall Street wants to bring back the "low-doc" loan. These mortgages, which are given to borrowers that can't fully document their income, helped fuel a tidal wave of defaults during the housing crisis and subsequently fell out of favor.
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Democrats Demand More FHA Info on Nonperforming Loan Sales
National Mortgage News, Feb. 1, 2016--Collins, Brian
Key Democratic lawmakers are urging the Department of Housing and Urban Development to tighten its program for selling nonperforming guaranteed loans to ensure servicers have exhausted all loss mitigation options before the loans are sold to private investors.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Condominium Lending Workshop Mar. 10
The Mortgage Bankers Association's Condominium Lending Workshop: Challenges and Opportunities, takes place Thursday, Mar. 10 in Crystal City, Va.
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Today at CREF
ORLANDO--The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo continues today with a full slate of activities here at the Hyatt Regency Orlando.
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