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Top National News
Leading Economic Indicator Points to Accelerating Growth in 2017
MarketWatch, Feb. 17, 2017--Greg RobbThe U.S. leading economic index had its second strong increase since the election and if the trend continues it could point to acceleration in economic growth, the Conference Board said Friday.
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Mortgage Delinquency Reaches Plateau
DSNews, Feb. 21, 2017TransUnion, a credit information service, released a report, Q4 2016 Industry Insight Report, on credit service trends for 2016. It reported in 2016 alone, 12 million consumers gained access to credit services such as personal loans, mortgages, auto loans and credit cards.
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MBA Special Report: Cautious Optimism in 2017
Commercial Property Executive, Feb. 21, 2017--Sanyu KyeyuneMBA Chairman Rodrigo López, CMB, pointed out three components of MBA's blueprint for 2017: ensuring regulations promote the efficient flow of capital, deploying transformational technology to better serve customers and developing a workforce as diverse as its customers.
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CMBS Issuance Down as Multifamily, GSE Lending Up
Mortgage Daily, Feb. 21, 2017Estimates were based on an analysis of CRE lending reports issued by the Mortgage Bankers Association.
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MGIC Relaxes Program Requirements
Mortgage Daily, Feb. 21, 2017MGIC has relaxed some of its underwriting guidelines. Among the changes are higher loan-to-value ratios, increased loan amounts and reduced credit scores.
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Nearly $800 Million in GSE Loans for Sale
Mortgage Daily, Feb. 17, 2017Nearly $800 million in distressed government-sponsored enterprise residential loans have been put on the auction block.
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Fannie Mae’s Focus Will Not Change with New Administration, CEO Says
National Mortgage News, Feb. 17, 2017--Brad Finkelstein (subscription)The change of power in the White House will not affect Fannie Mae's focus for 2017 in bringing innovations similar to the Day 1 Certainty program to its customers, CEO Timothy Mayopoulos said in an interview.
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Ocwen Agrees to Big Penalties to Resume Business in California
National Mortgage News, Feb. 17, 2017--Kevin Wack (subscription)Ocwen Financial has reached a deal with California authorities to resolve allegations that the mortgage servicing firm--a frequent target of regulators in recent years--again violated a range of state and federal laws.
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Two Firms Partner to Launch New Mortgage Company
HousingWire, Feb. 20, 2017--Kelsey RamirezTwo firms, Jack Conway and New Penn Financial announced the launch of a joint-venture mortgage company--Conway Financial Services.
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Q4 2016 Commercial and Multifamily Originations Up 20 Percent
National Mortgage Professional, Feb. 20, 2017--Phil HallCommercial and multifamily mortgage originations saw a 20 percent spike between the third and the fourth quarters, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
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Fannie Mae’s Support of Invitation Homes’ IPO Boosts SFR Market
GoRion, Feb. 17, 2017--Kerry CurryFannie Mae's backing of Invitation Homes' recently completed IPO bodes well for the future of the single-family rental market as the government-sponsored enterprise's decision to securitize a $1 billion loan adds an important layer of credibility.
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Low Inventory Begets Fast Deals
UExpress.com, Feb. 17, 2017--Lew SichelmanEven after 51 consecutive months of a below-normal supply of homes for sale, the picture for buyers this year is expected to be even more challenging.
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Trump’s In-Laws May Put Fannie Mae, Freddie Mac in Tough Spot
Bloomberg, Feb. 17, 2017--Joe LightKushner Cos. has apartment buildings from New Jersey to Maryland with more than $500 million in government-backed mortgages financed by Fannie Mae and Freddie Mac. That could put officials at those agencies in an awkward spot: If Kushner Cos. applies for a new loan, or wants to refinance, would Freddie turn them down? If Kushner Cos. fails to comply with the terms of a loan, will Fannie seek to foreclose on a property owned by the president's in-laws?
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Altisource Portfolio Solutions to Pay $32 Million to Settle Class Action Suit over Ocwen Relationship
HousingWire, Feb. 17, 2017--Ben LaneWhen Altisource Portfolio Solutions filed its 10-K yearly filing with the Securities and Exchange Commission earlier this week, the company revealed that the Consumer Financial Protection Bureau is looking into the company's relationship with Ocwen Financial.
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Fannie Mae Reports $5 Billion in 4Q Net Income
National Mortgage News, Feb. 17, 2017--Jacob Passy (subscription)Fannie Mae reported higher net income in the fourth quarter over the previous year.
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U.S. Mortgage Payments as a Share of Income Just Hit a 7-Year High
MarketWatch, Feb. 17, 2017, 2017--Alessandra MalitoMortgage payments make up the biggest chunk of U.S. homeowners' income since 2010, reported Zillow.
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MBA Forecast for Economy: Lookin’ Good!
National Mortgage Professional, Feb. 17, 2017--Phil Hall"We're expecting steady, modest growth in the U.S. economy," said MBA Vice President of Research & Economics Lynn Fisher at the MBA National Mortgage Servicing Conference & Expo. "We're seeing real economic growth in a number of indicators."
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MBA Appoints Quicken Loans, Black Knight Execs to MISMO Board
Mortgage Professional America, Feb. 17,2017--Anna SobrevinasThe Mortgage Bankers Association appointed Quicken Loans' Pete Carroll and Black Knight's Andy Crisenberry to its Mortgage Industry Standards Maintenance Organization's board of directors.
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How the Drop in Oil Prices is Affecting Commercial Real Estate
National Real Estate Investor, Feb. 17, 2017--Patricia KirkFalling energy prices and energy-sector jobs have had a major impact on hotel stays and the oil-related financial sector in some cities as well as industrial occupancy in some states with a heavy dependence on oil.
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Goldman Sees U.S. Mortgage Rates up 150 Basis Points by 2019
Reuters, Feb. 17, 2017--Richard LeongGoldman Sachs analysts said on Friday that they expect 30-year conventional mortgage rates to rise 150 basis points to about 5.5 percent by 2019 in step with an increase in benchmark Treasury yields and investors demanding higher compensation to own mortgage-backed securities.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Condominium Lending Workshop in Chicago Apr. 5-6
The Mortgage Bankers Association' Condominium Lending Workshop, Challenges and Opportunities, takes place Apr. 5-6 in Chicago.
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MBA Education Consumer Direct Origination: Best Practices for Driving Purchase Money Webinar Today
MBA Education presents a webinar, Consumer Direct Origination: Best Practices for Driving Purchase Money, today, Feb. 21 from 2:00-3:30 p.m. ET.
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