The Lede
Top National News
Lone Star Shifts Tougher REOs to Residential Capital; Launches Rental Strategy
DebtWire, Dec. 18, 2017--Al YoonLone Star Funds is turning to residential rentals as it grapples with the dregs of more than USD 30bn in delinquent loans purchased over the past several years.
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2018 Mortgage Loan Limits–With Charts
OurBroker.com, Dec. 18, 2017--Peter G. MillerMortgage loan limits are up for 2018 because real estate values nationwide have generally been rising.
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RoundPoint Introduces Retail Mortgage Lending Division
DS News, Dec. 18, 2017--Rachel WilliamsThe new mortgage lending division, which employs 174 people, was initially launched to neutralize RPMS's portfolio run-off. The next phase for the operation is to expand to purchase market opportunities.
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Fed’s Kashkari Warns Rate Rises Could Drive Economy Into Recession
Wall Street Journal, Dec. 18, 2017--Michael S. Derby (subscription)Federal Reserve Bank of Minneapolis President Neel Kashkari warned Monday that bad things may lie ahead for the economy if his colleagues at the U.S. central bank press forward with interest-rate increases.
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Fannie, Freddie Recommit to Financing Chattel Loans
National Mortgage News, Dec. 18, 2017--Bonnie Sinnock (subscription)Fannie Mae and Freddie Mac's final Duty to Serve plans move ahead with expanded support for manufactured housing through both single-family and multifamily programs, including controversial personal property loans.
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Trump Tax Reform Sets Markets Up for Santa Rally
HousingWire, Dec. 18, 2017--Jacob GaffneyAs most of the press argues about the merits of tax reform, and its expected passage this week, one thing largely missed by the mainstream coverage is that, politics aside, this news is good for the stock markets.
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Bad News, Homeowners: Tax Bill Would End Deductions for Interest on Home Equity Loans
Boston Globe, Dec. 19, 2017--Tim LoganUnder the massive tax bill now poised to pass Congress--and be signed by President Trump before Christmas - homeowners no longer would be able to deduct the interest on home equity loans, a relatively cheap form of borrowing based on the equity in a property.
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Former Exec Sues Guaranteed Rate
Chicago Tribune, Dec. 18, 2017--Ally MarottiMortgage lender Guaranteed Rate Mortgage allegedly owes one of its former employees, who has been recognized as one of the top loan producers in the country, more than $2 million in compensation, according to a lawsuit filed by the former employee.
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Wholesaler, Bank and Credit Union Fail
Mortgage Daily, Dec. 18, 2017Data from the Federal Deposit Insurance Corp. which was named receiver by the OCC, indicate that Washington Federal's deposits were $144 million, while assets were $166 million and included $121 million in single-family assets and $25 million in commercial real estate loans.
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Mortgage Banking Exec Indicted for Warehouse Fraud
Mortgage Daily, Dec. 18, 2017In an indictment unsealed Thursday in a federal court in Manhattan, New York, the Department of Justice accuses John Reimer of defrauding warehouse lenders.
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The Coastal Mortgage Time Bomb
Inman, Dec. 19, 2017--Bryan WalshAnalysts worry that if insurers start to pull out of flood-prone seaside communities, it could cause a crisis worse than 2008.
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Digital Mortgages Work Best with ‘Less is More’ Approach to Workflow
National Mortgage News, Dec. 18, 2017--Kyle Kamrooz (subscription)The author, with Cloudvirga, says by leveraging intelligent technology to drive the day-to-day origination workflow, lenders can manufacture loans more consistently and bring in human expertise where needed to handle exceptions.
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Three Looming Worries for Bankers in Final Tax Reform Plan
National Mortgage News, Dec. 18, 2017--Ian McKendry (subscription)Congress is close to the finish line in passing a major tax overhaul, and bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill also still includes some caveats that might give certain institutions pause.
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Bankrupt Toys ‘R’ Us Weighs Closing at Least 100 Stores
Bloomberg, Dec. 18, 2017--Lauren Coleman-Lochner, Matthew TownsendToys "R" Us Inc., which filed for bankruptcy in September, is considering closing at least 100 U.S. stores in the face of weak holiday sales.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education School of Mortgage Servicing Feb. 26-Mar.8
MBA Education offers its popular School of Mortgage Servicing instructor-guided online course from Feb. 26-Mar. 8.
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