The Lede
Top National News
CFPB’s Final Mortgage Servicing Rule Implementation Possibly Delayed
HousingWire, Jan. 25, 2017--Swanson, BrenaThe implementation date of the Consumer Financial Protection Bureau's final mortgage servicing rule lies in question after the Trump administration announced a freeze on federal regulations.
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R.B.S. Adds $3.8 Billion to Mortgage Inquiry Provisions as Rivals Settle
New York Times, Jan. 26, 2017--Bray, ChadThe Royal Bank of Scotland said on Thursday that it would set aside an additional $3.8 billion in its fourth quarter for investigations and litigation in the United States, even as rivals have reached settlements with the American authorities.
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Senator Criticizes Fannie’s Spending on TX Office
Dallas Morning News, Jan. 25, 2017--Brown, SteveSen. Chuck Grassley, R-Iowa, said Fannie Mae's planned regional headquarters in Plano, Texas are "$24.2 million in excessive costs."
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Nonprime RMBS Issuance Expected to Accelerate
Mortgage Daily, Jan. 25, 2017Mortgage securitizations backed by nonprime loans are expected to see a substantial increase this year as lenders move away from prime refinances.
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Chase Mortgage Loan Originator Indicted
Mortgage Daily, Jan. 26, 2017A former loan originator at JPMorgan Chase & Co.'s banking subsidiary has been federally indicted over allegations of mortgage fraud.
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Trump Hotels, Amid Calls to Divest, Instead Plans U.S. Expansion
Bloomberg, Jan. 25, 2017--Yu, Hui-Yong; Melby, CalebOnly days after Donald Trump took the oath of office, the head of his hotel-management company outlined hopes for an ambitious expansion across the U.S., raising new questions about potential conflicts between his business and the presidency.
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OCC Fintech Charter Shaping Up to Be Banking’s Next Big Fight
American Banker, Jan. 25, 2017--Clozel, LalitaIn dozens of letters to the Office of the Comptroller of the Currency, which announced the creation of the charter in December, players on both sides of the debate agreed only on one thing - that it could significantly impact the future of the financial system.
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RealPage Seeks to Build Apartment Data Giant with Acquisition of Axiometrics
HousingWire, Jan. 25, 2017--Lane, BenRealPage announced Wednesday that it agreed to acquire "substantially all of the assets" of Axiometrics, a provider of apartment market data, for $75 million.
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California Housing Crunch Prompts Push to Allow Building
Wall Street Journal, Jan. 25, 2017--Kirkham, ChrisDebate in most-populous state has advocates saying, "Yes, in my backyard."
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Why FHFA Is Seeking More Data on Chattel Loans
National Mortgage News, Jan. 25, 2017--Collins, BrianThe Federal Housing Finance Agency is seeking a significant amount of information from lenders that specialize in making chattel loans to manufactured homebuyers due to a lack of reliable data on the market.
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Jump in Rates Doesn’t Deter Homebuyers as Mortgage Applications Increase 4%
CNBC, Jan. 25, 2017--Olick, Diana Mortgage rates moved solidly higher last week, but lenders saw no letup in loan demand. "While this was the first rate increase in January, rates remain about 10 basis points lower than four weeks ago," said Mortgage Bankers Association Vice President Lynn Fisher.
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Foreclosure Prevention Returns to the Unknown
New York Times, Jan. 25, 2017--Cowley, StacyThe expired Obama-era program--known as HAMP, the Home Affordable Modification Program--was widely criticized for its poor execution. "There's tremendous public good in having an industrywide approach," said Justin Wiseman, the director of loan administration policy at the Mortgage Bankers Association, a trade group. "No one wants things to revert to what we had before."
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Bove: Mortgage Markets are in ‘More Disarray’ Than They Were in 2008
Yahoo! Finance, Jan. 25, 2017--La Roche, JuliaMBA President and CEO David Stevens disputed Bove's claim that FHA failed to make good on its insurance, noting that FHA has paid every claim to its investors.
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What Dow 20,000 Means for Mortgages
National Mortgage News, Jan. 25, 2017--Sinnock, Bonnie; Finkelstein, Brad The Dow Jones Industrial Average crossed the 20,000 threshold for the first time Wednesday, but the post-election stock market rally has produced a mixed bag for mortgage demand and the industry's publicly traded companies.
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House Flipping is on the Rebound–And That’s Not Good For Everyone
USA Today, Jan. 25, 2017--Davidson, Paul House flipping is back. Flipping--defined as the sale of a home at least twice within a year--made up 6.1 percent of all home sales in 2016, up from 5.3 percent the previous year and the highest level since 2006, Trulia reported.
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Republicans May Change Tax Code to Make Property Swaps Less Attractive
Washington Post, Jan. 25, 2017--Harney, Kenneth The small-scale owners of millions of rental homes, parcels of investment land and income-producing commercial and business real estate may not know it, but one of their key financial planning and tax tools is in danger of disappearing on Capitol Hill.
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Some Housing Advocates in California Use Lawsuits to Push Agenda
Wall Street Journal, Jan. 25, 2017--Kirkham, ChrisAs affordable-housing advocates push back against environmental challenges to what they view as sensible development proposals, some are taking the fight to court.
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MBA: Purchase Applications Drive Increase in Mortgages
HousingWire, Jan. 25, 2017--Swanson, BrenaMortgage applications moved slightly higher, increasing 4 percent from one week earlier, the Mortgage Bankers Association said.
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Who Will the Big New York Lenders Be in 2017?
National Real Estate Investor, Jan. 25, 2017--Razin, ElyCommercial real estate is typically seen as a pretty safe bet--and New York City as a pretty stable place to make that bet. So who will the big New York City lenders be in 2017?
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Foreclosure Fundamentals Webinar Today
MBA Education presents Foreclosure Fundamentals, an informative webinar, today, Jan. 26 from 2:00-3:30 p.m. ET.
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