The Lede
Top National News
Trump’s Team Suspended a Mortgage Insurance Rate Cut. Here’s What That Means
Chicago Tribune, Jan. 23, 2017--Andrew KhouriOn Friday, the Trump administration suspended a pending rate cut to FHA mortgage insurance that the outgoing Obama administration announced just a week earlier.
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Five Alternative Asset Trends for 2017
National Real Estate Investor, Jan. 23, 2017--Diana BellAlternative assets remained in the spotlight in 2016, attracting increased investor attention and delivering outsized returns compared to core property types.
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Los Angeles Home Market Hitting High Notes But the Tempo May be Slowing
MarketWatch, Jan. 23, 2017--Edward FitzThere are signs that Los Angeles' housing market may be cooling a bit. While prices may not decline, the huge year-over-year increases seen recently will not be sustainable in the long term.
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Trump’s Policies and the Bet on Higher Interest Rates
Bloomberg, Jan. 23, 2017Brown Brothers Harriman's Marc Chandler discusses the U.S. dollar and bond yields on Bloomberg Daybreak: Americas.
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Credit Suisse Gets New Head of Commercial Real Estate Finance
Reuters, Jan. 23, 2017--Joy Wiltermuth Matthew Masso has been tapped by Credit Suisse to head the commercial real estate finance group, replacing former chief Mark Brown.
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Trump, FHA Mortgages and Rethinking Discounts
OurBroker.com, Jan. 23, 2017--Peter G. MillerIn Washington--where all politics are local and nothing is more local than real estate--a large number of Democrats and Republicans, some more quietly than others, are likely to push for a reinstatement of the fee reduction, especially when they hear from community bankers, real estate brokers, and local attorneys back home.
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Originations Down at PRMI as Servicing, Staff Up
Mortgage Daily, Jan. 23, 2017Although there was a quarter-over-quarter decline in lending volume at Primary Residential Mortgage Inc., employee count and servicing expanded.
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Mortgage Bankers Trim 2017 Refinance Outlook
Mortgage Daily, Jan. 23, 2017For the third month in a row, the nation's mortgage bankers have reduced the volume of refinance production they expect to generate this year.
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Tozer Recounts Time as President of Ginnie Mae
Mortgage Daily, Jan. 23, 2017--Sam GarciaAs he prepared to leave his post along with the rest of the Obama administration, the former president of Ginnie Mae talked about his wild ride over the past seven years.
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Deutsche Bank Fails to End BlackRock, Pimco Mortgage Debt Lawsuit
Reuters, Jan. 23, 2017--Jonathan StempelA U.S. judge on Monday narrowed but refused to dismiss a lawsuit seeking to hold Deutsche Bank AG liable to investors, including dozens of portfolios from BlackRock Inc and Pacific Investment Management Co, for losses on poorly underwritten residential mortgage-backed securities.
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Citi Mortgage Units Fined $28.8 Million
CNN Money, Jan. 23, 2017--Kathryn VaselThe Consumer Financial Protection Bureau ordered CitiFinancial Servicing and CitiMortgage to pay $28.8 million for giving "the runaround" to cash-strapped homeowners who were facing foreclosure.
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Wells Fargo Accused of Falsely Overcharging Mortgage Borrowers
HousingWire, Jan. 23, 2017--Brena SwansonThe alleged claim reopens a fresh wound for the bank given that its still cleaning up from its major account scandal announced in September of last year.
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Foreclosure Rate Down by 30% in 2016: Black Knight
National Mortgage News, Jan. 12, 2017--Jacob PassyThe foreclosure presale inventory rate fell year over year by 30% in December, signaling the most improvement of any year on record, according to Black Knight Financial Services.
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Societe Generale Fined $50 Million for Pre-Crisis RMBS Fraud
HousingWire, Jan. 23, 2017--Ben LaneAccording to the Department of Justice, Societe Generale will pay a $50 million fine to resolve claims that the bank made a series of "false representations" about the loans that backed a residential mortgage-backed securitization, SG Mortgage Securities Trust 2006-OPT2.
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