The Lede
Top National News
Onslaught of Mortgage Rules Is Worse than Many Realize
American Banker, Mar. 22, 2016--Aukamp, William
The author, a lawyer with Werb & Sullivan, says the mortgage regulatory burden providing a disincentive for banks to offer residential mortgage loans and for attorneys from wanting to represent lenders and borrowers in these transactions.
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3 Ways to Fight Fraud Infiltrating the Mortgage Process
National Mortgage News, Mar. 22, 2016--King, Aaron
While companies continue to make three big blunders in hiring and managing third-party vendors, there are reliable ways to avoid these mistakes altogether using existing technology.
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Colorado Mortgage Services Company Bought by Pennsylvania Firm
Denver Business Journal, Mar. 22, 2016
Pennsylvania-based MetaSource LLC announced Monday that it has acquired Denver-based mortgage services company Titan Lenders Corp.
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Macy’s Names REIT Expert to Board Amid Pressure to Spin Off Real Estate
Wall Street Journal, Mar. 22, 2016--Jamerson, Joshua
Macy's Inc. said Tuesday that it has tapped William Lenehan, an expert in real-estate investment trusts, to become a board member as the company continues to face pressure to spin off its real estate despite ruling out the move last year.
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Property Bubble Ghost Haunts Central Bankers Trying to Boost Prices
Bloomberg, Mar. 22, 2016--Randow, Jane
As the Federal Reserve downshifts into go-slow mode while the European Central Bank and other monetary authorities ease, expect to hear a lot of concern about property prices. Here's the dilemma: How do you cut rates to goose too-low inflation and support growth without lighting a fuse under real estate?
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FHFA’s Watt: Principal Reduction is ‘Most Challenging’ Decision Agency Faces
Housingwire, Mar. 22, 2016
In a speech given Monday at a public policy luncheon hosted by the Women in Housing and Finance, Mel Watt, the director of the Federal Housing Finance Agency, said that the issue of principal reduction has been the "most challenging" that the FHFA has faced in his two years there.
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FHFA: Home Prices Keep Moving Up
HousingWire, Mar, 22, 2016--Barraza, Cynthia
U.S. housing prices in January gained 0.5% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency.
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FHFA Planning for Post-HARP Market
National Mortgage Professional, Mar. 22, 2016--Hall, Phil
With the Home Affordable Refinance Program set to expire at the end of the year, Federal Housing Finance Agency (FHFA) Director Mel Watt is seeking to lay the foundation of a market that will not leave at-risk homeowners in difficult financial situations.
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IRS Offering $10,000 Prize for ‘Taxpayer Experience of the Future’
Wall Street Journal, Mar. 22, 2016--Rubin, Richard
The Internal Revenue Service is launching its first "crowdsourcing challenge" to "design the taxpayer experience of the future." The contest, which comes with a $10,000 grand prize, begins April 17 at an event in Washington, D.C., with judging scheduled for May and June. The prize money comes from the Mortgage Bankers Association, which wants a faster system for potential borrowers to get past tax returns to lenders, said David Stevens, the association's president and chief executive officer.
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Death and Divorce Don’t Get Sympathy from Loan Servicers
Detroit Free Press, Mar. 22, 2016--Tompor, Susan
Some families face foreclosures after a spouse dies, the money is tight, and the mortgage is only in the name of the deceased. ustin Wiseman, director of loan administration policy at the Mortgage Bankers Association, said situations can be complex, such as when multiple successors apply for different loan modifications the same mortgage, or when privacy issues come into play.
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SEC Probing Mortgage Servicing Fees Tied to Bad Debt?
Bloomberg, Mar. 23, 2016--Scully, Matt
The Securities and Exchange Commission is looking at whether mortgage servicers are boosting profits by prematurely unleashing debt collectors on delinquent borrowers.
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Why it Seems Impossible to Buy Your First Home
Washington Post, Mar. 22, 2016--Badger, Emily
Buy a starter home, if all goes well, and you position yourself later to trade up. A starter home helps make possible a second home, which makes possible maybe a third even grander one somewhere down the line. But what happens when the most affordable entry-level housing on the market costs $700,000?
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MGM Real Estate Subsidiary Files for Initial Public Offering
VEGAS Inc., Mar. 22, 2016--Morris, J.D.
MGM Resorts International's new real estate subsidiary, which will own 10 of the company's properties, filed a registration statement for an initial public offering.
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