The Lede
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Practical Steps for Co-Owning and Co-Habitating
UExpress, Mar. 31, 2017--Lew SichelmanBorrowing together has nothing to do with owning together. Ownership is determined by how you take the title -- something most buyers don't even think about until they get to the closing table.
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Inside Blackstone’s $500 Million Willis Tower Makeover
National Real Estate Investor, Mar. 31, 2017--Patricia KirkChicago's 43-year-old Willis Tower (formerly Sears Tower), which at 110 stories is the tallest building in Chicago and the nation, is getting a $500-million facelift, expected to be completed in 2019.
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Senators Offer Different Strategies on Changing Dodd-Frank
National Mortgage Professional, Mar. 31, 2017--Phil HallSen. Mike Crapo, R-Idaho, chairman of the Senate Banking Committee, announced that he is seeking new bank reform legislation that can be forged with bipartisan support, rather than jettison the Dodd-Frank Act.
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More Companies Challenging CFPB Enforcement Actions
National Mortgage News, Mar. 31, 2017--Kate Berry (subscription)The Consumer Financial Protection Bureau racked up an impressive track record related to enforcement actions between its formation in 2011 and 2015, winning 122 cases without losing a single one. But that unblemished record has come to an abrupt end. More companies and individuals are challenging the CFPB's authority, inspired in part by a successful suit by the nonbank mortgage lender PHH Corp. as well as a feeling that the agency has overplayed its hand.
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CFPB’s Cordray Defends Agency’s Enforcement Actions
National Mortgage News, Mar. 31, 2017--Kate Berry (subscription)Richard Cordray, director of the Consumer Financial Protection Bureau, defended the agency from industry allegations that the CFPB engages in "regulation by enforcement" in a speech to the U.S. Chamber of Commerce.
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Democrats Rally Together to Support CFPB in Case Against PHH
HousingWire, Mar. 31, 2017--Brena SwansonCongressional Democrats filed an amicus brief on Friday with the D.C. Circuit Court of Appeals in support of the Consumer Financial Protection Bureau.
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Altisource Residential Growing Single-Family Rental Business Again
HousingWire, Mar. 31, 2017--Ben LaneFriday, the company announced that it is growing its single-family rental portfolio again, in another deal with Amherst Holdings affiliates.
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Redfin: Low Down Payments Still Work in Today’s Market
HousingWire, Mar. 31, 2017--Brena SwansonDespite the current lack of inventory in the housing market, homebuyers can still successfully close on a house with a low down payment, according to a survey this month of more than 800 Redfin real estate agents.
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Fed Signals it Could Promptly Start Shedding Bonds from Portfolio This Year
Reuters, Mar. 31, 2017--Jonathan SpicerThe Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank's most definitive comments on the question that looms over financial markets.
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Inflation Tops 2% Target for First Time in Almost Five Years
Wall Street Journal, Mar. 31, 2017--Eric Morath (subscription)The U.S. economy reached an important milestone in February when consumer inflation exceeded the Federal Reserve's target for a 2% annual gain for the first time in nearly five years.
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Risk Worries Slow Banks’ Non-QM Lending in 2016
National Mortgage News, Mar. 31, 2017--Brad Finkelstein (subscription)Risk management concerns were responsible for a five-percentage-point reduction in bank non-qualified mortgage lending last year, a new report said.
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Morgan Stanley Passes $300 Million in Consumer Relief in Mortgage Bond Settlement
HousingWire, Mar. 31, 2017--Ben LaneMorgan Stanley handed out nearly $200 million in consumer relief over the past few months, pushing the company past the 75% mark in its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.
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These 3 Charts Show Why Commercial Real Estate Is The Next ”Big Short”
Forbes, Apr. 2, 2017--Olivier GarretA small but growing group of hedge funds are positioning themselves to profit from the collapse of the real estate market. But this time, hedge funds (along with Deutsche Bank and Morgan Stanley) aren't targeting subprime mortgages--they're going after commercial real estate.
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Mortgage Daily 2016 Biggest Lender Ranking
Mortgage Daily, Apr. 3, 2017U.S. home lenders originated an estimated $517 billion during the final-three months of 2016, according to data collected for the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
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Firms Report Record Mortgage Originations
Mortgage Daily, Mar. 31, 2017--Sam GarciaLast year, state-licensed mortgage loan originators generated $1.060 trillion is residential loan production. Volume climbed by a fifth from 2015.
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Purchase Financing Leads Mortgage Biz Lower
Mortgage Daily, Mar. 31, 2017New mortgage activity was depressed over the past week, and it was purchase-money business that was out front of the decline. Adjustable-rate activity, though, grew.
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MBA News
MBA Compliance Essentials HMDA Data Points Webinar Series Available
MBA Education and its popular Compliance Essentials Series has partnered with MISMO® to bring you a series of recorded on-demand webinars highlighting the new Home Mortgage Disclosure Act rule.
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MBA Education Real-Time Demand: Considerations on Mortgage Automation Webinar Apr. 4
MBA Education presents a new webinar, Real-Time Demand: Considerations on Mortgage Automation, on Tuesday, Apr. 4 from 2:00-3:30 p.m. ET.
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This Week in MBA Insights
MBA honors five remarkable innovators in mortgage technology with MBA Insights Tech All-Star Awards. We profile the winners.
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MISMO XML Primer Instructor-Guided Online Course Apr. 10, 12
MISMO presents and elective Instructor-Guided Online Course, MISMO XML Primer, on Apr. 10 and 12.
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