The Lede
Top National News
Why We Need to Move Past ‘Recap and Release’
The Hill, June 13, 2016--Stevens, David
MBA President and CEO David Stevens, CMB, said recapitalizing the GSEs without first reforming the secondary mortgage market would threaten the very housing finance system that the industry has worked so hard to sustain.
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Challenge Winners Mock Up IRS Websites of the Future
FedScoop, June 13, 2016--Otto, Greg
Winning apps in the IRS challenge would give citizens the ability to research, file and protect their tax information from their smartphones. The Mortgage Bankers Association provided prize money for the competition.
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8 Pitfalls to the FHFA’s URLA Changes
MReport, June 13, 2016--West, Xhevrije
Several trade groups and organizations focused on the banking and mortgage industries recently wrote a letter to Federal Housing Finance Agency Director Mel Watt, concerning a potential last-minute addition to the new Uniform Residential Loan Application.
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Regulators’ Next Target? Lenders’ Digital Marketing Compliance
National Mortgage News, June 13, 2016--Finkelstein, Brad
Marketing and advertising compliance have always been low-hanging fruit for regulators. After all, they get the same fliers in their mail at home and see the same television and newspaper ads that regular people do.
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NAR Survey: Student Debt Prevents Many From Becoming Homeowners
National Mortgage Professional, June 13, 2016--Hall, Phil
Nearly three-quarters of non-homeowners that are repaying student loans believe that their school-related debt is preventing them from buying a house, according to a new survey.
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Consumers Expect 3.2% Annual Home Price Gains: Survey
National Mortgage News, June 13, 2016--McCullom, Glenn
Consumers expect home prices to increase 3.2% over the next year, according to a recent Federal Reserve Bank of New York's survey.
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Answers You Need on How the CFPB Enforces TRID
HousingWire, June 13, 2016--Swanson, Brena
TRID isn't the first regulation to take the industry by storm. The industry proved it can adapt with the qualified mortgage rule, and it can adapt to this. But, it's going to come with an incubation period.
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With Economic View Hazy, a Wait-and-See Fed Message Expected
Associated Press, June 13, 2016
A wait-and-see tone is expected when the Federal Reserve issues a statement on Wednesday. The Fed will likely echo the message the Fed Chair Yellen sent in a speech last week: while the U.S. economy looks fundamentally solid and higher rates will come eventually, too many uncertainties exist to say when the Fed might raise rates again.
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Surviving Basel Getting Harder in World’s Oldest Mortgage Market
Bloomberg, June 13, 2016--Schwartzkopff, Frances
The chief executive running the biggest lender in the world's oldest mortgage market says the next wave of regulations threatens his industry's future.
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Mortgage Relief Programs Expiring Soon for Homeowners
5NBC (Chicago), June 13, 2016--Coffey, Chris
Consumers who qualify for the government's Home Affordable Modification Program and Home Affordable Refinance Program could save hundreds of dollars each month. Both programs were created during the height of the country's foreclosure crisis.
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Congress to Consider Changes to Controversial CFPB Complaint Database
HousingWire, June 13, 2016--Lane, Ben
When the Consumer Financial Protection Bureau began publishing consumers' complaints against financial services companies several years ago, many of those companies and other industry observers took issue with the fact that the complaints were, in many cases, unverified and unproven. But that could be about to change, thanks to a new bill that Congress is set to consider soon.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Legal Liabilities When Check Fraud Occurs Webinar June 29
MBA Education presents a webinar, Legal Liabilities When Check Fraud Occurs, on Wednesday, June 29 from 2:00-3:30 p.m. ET.
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