The Lede
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‘Thank You for Your Service’–Housing Industry Helps Vets
Housing Scene, Jan. 27, 2017--Sichelman, LewOf the thousands of complaints received by the Consumer Financial Protection Bureau, gripes regarding debt collections from the military community numbered twice the rate of the general population.
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What A 2017 SEC Filing Can Tell Us About America’s Real Estate Presidency
Forbes, Jan. 27, 2017--Razin,Ely As America's real estate president begins his term, it is perhaps fitting that the top loan in one of the year's first commercial mortgage-backed securities deals turns out to be for a building closely connected to the president's son-in-law and fellow real estate developer, senior White House adviser Jared Kushner.
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2016 Marked a Decline in Investment Sales Volumes
National Real Estate Investor, Jan. 27, 2017--Bell, DianaInvestment sales volume in the commercial real estate sector for 2016 fell about 11 percent year-over-year, but sources say the decline in transactions was skewed by a "gangbuster" 2015 marked by significant platform and portfolio sales.
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Affordability is Housing Market’s Greatest Obstacle in 2017: Fannie Mae
GoRion, Jan. 27, 2017--Bourgi, Sam Fannie Mae warns that political uncertainty around the new Republican administration and rising affordability challenges could limit U.S. housing growth in 2017.
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Home Point Financial Acquires Stonegate Mortgage for $211 Million Cash
HousingWire, Jan. 27, 2017--Swanson, BrenaThe acquisition, if completed, would position Home Point as a top-25 mortgage originator and servicer.
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Fed to Stop Mortgage Reinvestments in 2018: Morgan Stanley
Reuters, Jan. 27, 2017--Leung, RichardThe U.S. Federal Reserve will stop reinvestments of its mortgage-backed securities holdings in April 2018 in an attempt to shrink its $4.2 trillion balance sheet that had ballooned from bond purchases to combat the last recession, Morgan Stanley analysts said on Friday.
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U.S. Economy Returns to Lackluster Growth
Wall Street Journal, Jan. 28, 2017--Leubsdorf, BenThe U.S. ended 2016 on a familiar trajectory of roughly 2% economic growth, the lackluster trend that has prevailed through most of the current expansion and which President Donald Trump has pledged to double in the face of stubborn long-term headwinds.
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Mortgage Bond Trader Jesse Litvak Convicted of Fraud, Again
HousingWire, Jan. 27, 2017--Lane, BenThe tale of Jesse Litvak may finally be moving toward an ending, as a federal jury on Friday found the former Jefferies managing director and mortgage-backed securities trader guilty on one count of fraud.
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Home Point Making Major Mortgage Acquisition
Mortgage Daily, Jan. 27, 2017On Friday, Home Point announced that it has reached an agreement to acquire Stonegate Mortgage Corp. for $211 million in cash.
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Mortgage Executive and Board Changes
Mortgage Daily, Jan. 277, 2017--Garcia, SamA couple of big mortgage players have made changes to their boards of directors. Meanwhile, several regional manager appointments were among recent executive changes.
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Quicken Originations, Servicing and Staffing Up
Mortgage Daily, Jan. 27, 2017Quicken Loans Inc.'s home lending volume, servicing portfolio and employee count moved up both on a quarter-over-quarter and year-over-year basis.
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Gaps Surface in National Housing Market
Chicago Daily Herald, Jan. 28, 2017--Woodard, JimAs the housing market nears full recovery, widening gaps along racial, socio-economic and generational lines are impacting the growth of the housing market and individual cities.
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Remember Those Risky Subprime Mortgage Wagers? Something Similar May Be Returning to the Market
Bloomberg, Jan. 29, 2017--Scully, MattJPMorgan Chase, Bank of America and Credit Suisse Group have given price data to the startup, New York-based Vista Capital Advisors, which rolled out the latest version of its pilot initiative this month.
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Why Appraisals Are Taking So Long in the Pacific Northwest
National Mortgage News, Jan. 27, 2017--Sinnock, BonnieLenders have been pulling their hair out over extreme appraisal delays in the Pacific Northwest and are trying to figure out why it's happening to a greater degree there than elsewhere.
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Matt Martin Steps Aside as CEO of Chronos Solutions
HousingWire, Jan. 27, 2017--Gaffney, JacobMark Hikel, who joined the company in July with the acquisition of UPF Services, will take over the role as CEO.
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Citigroup Exiting Business of Servicing Mortgages
Wall Street Journal, Jan. 30, 2017--Rexrode, ChristinaThe bank is expected to announce Monday that it is selling servicing rights of 780,000 mortgages backed by Fannie Mae and Freddie Mac to a subsidiary of New Residential Investment Corp.
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