The Lede
Top National News
Fixed Mortgage Rates Move Lower But Appear to Be Headed Higher
Washington Post, Nov. 30, 2017--Kathy OrtonFixed mortgage rates retreated this week but strong economic data and comments by the incoming and outgoing Federal Reserve chairs left many anticipating higher rates.
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Loan Production Expenses Hurt Bank Profits
Mortgage News Daily, Nov. 30, 2017--Jann SwansonMortgage bank profits declined in the third quarter when compared to the second quarter, but remained substantially higher than in the two quarters that preceded it, the Mortgage Bankers Association said.
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To Better Assess the Risk of FHA Programs, Separate Reverse and Forward Mortgages
Urban Institute, Nov. 30, 2017--Edward Golding, Laurie GoodmanFormer HUD official and Urban Institute exec say Congress could take a positive step by removing the HECM portfolio from the MMI Fund.
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The Surprising State With the Highest Hidden Flood Risk
Wall Street Journal, Nov. 30, 2017--Adam Bonislawski (subscription)Which state has the highest hidden flood risk? Take a guess. Heck, take 49 guesses. You might not get it even then. (It's Arizona.)
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Lawmakers Pressed to Save Flood Insurance Program
National Mortgage News, Nov. 30, 2017--Brian Collins (subscription)Numerous business sectors are urging lawmakers to act quickly to extend the National Flood Insurance Program before a crucial deadline next week.
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FHFA Adds Incentives to Go the Extra Mile in Duty to Serve
National Mortgage News, Nov. 30, 2017--Bonnie Sinnock (subscription)Final "duty to serve" evaluation guidance for Fannie Mae and Freddie Mac aim to include more incentives for the agencies to go above and beyond mandatory increases in lending to underserved markets.
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McCain a Yes on Tax Reform, Boosting Republians
The Hill, Nov. 30, 2017--Jordain CarneySen. John McCain, R-Ariz., said on Thursday that he will support the Senate Republicans' tax plan, which GOP leadership wants to pass this week.
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Appraisal Industry Innovations
Mortgage Daily, Nov. 30, 2017--Sam GarciaRecent innovations in the home valuation industry include improvements to the appraisal review process, appraiser performance measurement and enhanced desktop appraisals.
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Mortgage Production Profits Sink
Mortgage Daily, Nov. 30, 2017The average independent mortgage banker earned 39 basis points on loan originations during the three months ended Sept. 30, the Mortgage Bankers Association reported.
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2017 HW Vanguard: Rick Arvielo
HousingWire (magazine), Dec. 1, 2017 (subscription)Arvielo frequents Washington, D.C., to lobby on behalf of the industry and sits on the board of directors for the Mortgage Bankers Association, and on the group's Residential Board of Governors. Arvielo also serves in an elected position on the steering committee for the Mortgage Action Alliance Committee and is the 2017-2018 chairman of the Mortgage Bankers Association Political Action Committee.
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What You Need to Know About Fed Nominee Marvin Goodfriend’s Views
Wall Street Journal, Dec. 1, 2017--David Harrison (subscription)Marvin Goodfriend, the Carnegie Mellon economist nominated by President Donald Trump for a seat on the Federal Reserve's board of governors, has a long and distinguished academic career likely to please Capitol Hill Republicans.
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U.S. Fed Buys $3.4 Billion of Mortgage Bonds, Sells None
Reuters, Nov. 30, 2017The Federal Reserve bought $3.447 billion of agency mortgage-backed securities in the week from Nov. 23 to Nov. 29, compared with $5.516 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Foundational Concepts in Residential Mortgage Servicing in Dallas Feb. 6
MBA Education presents a workshop, Foundational Concepts in Residential Mortgage Servicing, on Tuesday, Feb. 6 in Dallas in conjunction with the Mortgage Bankers Association's National Servicing in Mortgage Banking Conference & Expo.
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MBA National Mortgage Servicing Conference & Expo Feb. 6-9
The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2018 returns to the Gaylord Texan in Grapevine, Texas (Dallas) Feb. 6-9.
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MBA Residential Future Leaders Program Class of 2018 Application Deadline Jan. 22
MBA Education is accepting applications for its Residential Future Leaders Program Class of 2018. Application deadline is Jan. 22.
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MBA CRA Residential Lending Workshop Feb. 21
The Mortgage Bankers Association's annual CRA Residential Lending Workshop takes place Feb. 21, 2018 at the Embassy Suites Charlotte Uptown in Charlotte, N.C.
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MBA National Mortgage Servicing Conference & Expo Feb. 6-9
The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2018 returns to the Gaylord Texan in Grapevine, Texas (Dallas) Feb. 6-9.
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MBA National Mortgage Servicing Conference & Expo Feb. 6-9
The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2018 returns to the Gaylord Texan in Grapevine, Texas (Dallas) Feb. 6-9.
Full Story