The Lede
Top National News
8 Top Women in Mortgage Finance Offer Career Encouragment, Advice
The Home Story (Fannie Mae), Mar. 8, 2017--Cathie Ericson"Listen to your own voice and do not dismiss your thoughts," says Marcia Davies, COO of the Mortgage Bankers Association.
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30-Year Mortgage Rate Reaches New High for the Year
Washington Post, Mar. 9, 2017--Kathy OrtonThe Mortgage Bankers Association released its mortgage credit availability index this week that showed credit availability increased in February. The MCAI rose 0.4 percent to 177.8 last month. A decline in the MCAI indicates that lending standards are tightening, while an increase signals they are loosening.
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Want to Start a Mortgage Company? loanDepot CEO Updates Thoughts on Barriers to Entry
HousingWire, Mar. 9, 2017--Brena SwansonSoFi, loanDepot and Quicken Loans sit in a small cohort of lenders known for pushing the envelopment in the mortgage industry and spurring innovation.
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Congress Set for Heated Debate on Flood Insurance Program
Wall Street Journal, Mar. 9, 2017--Rachel Witkowski (subscription)What to do about extending the National Flood Insurance Program divides Congress along regional rather than party lines.
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Survey Finds Mortgage Applicants Prefer In-Person Interactions
National Mortgage Professional, Mar. 8, 2017--Phil HallAccording to the newly released 2017 Borrower Insights Survey from Ellie Mae, 57 percent of homeowners applied for and completed their latest mortgage completely in-person with their lender,
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6 Constraints on New Home Construction
National Mortgage News, Mar. 9, 2017--Jacob Passy (subscription)While new home sales are indeed picking up - data from the U.S. Census Bureau showed January's new home sales rate was 5.6% higher than a year earlier, new home construction still remains well below its pre-recession peak.
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Housing Fears Confirmed: Trump Budget Considers $6 Billion Cut to HUD Funding
HousingWire, Mar. 9, 2017--Kelsey RamirezThis cut would go towards Trump's goal to cut domestic spending by $54 billion, and could decrease HUD's budget 14% to $40.5 billion in fiscal 2018, which begins in October.
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Manhattan Rents Fall for Every Apartment Size, Even Studios
Bloomberg, Mar. 9, 2017--Oshrat CarmielRents fell last month for Manhattan apartments of all sizes, the first across-the-board price decline in at least four years, as a construction boom brought more buildings to market and allowed some tenants to leave for bigger or newer units.
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Trump Meets with U.S. Community Bankers, Pledges to Scale Back Regulations
Reuters, Mar. 9, 2017--David Lawder; Amanda BeckerPresident Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital.
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Overdues Still Causing Need for Investor Vigilance
GoRion, Mar. 9, 2017--Mark FogartyInvestors heaving a sigh of relief that the foreclosure crisis isn't an imminent danger to their collateral any more are mostly right.
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Best Mortgage Employers 2017
Mortgage Daily, Mar. 9, 2017Fortune offered its latest ranking of the country's 100 best organizations to hold a job at reflected six mortgage-related businesses, including the third-largest lender.
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Stonegate Mortgage Earnings Soar, Originations Off
Mortgage Daily, Mar. 9, 2017A surge in gains on mortgage servicing rights significantly lifted Stonegate Mortgage Corp.'s income. But home lending slowed and will fall further.
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Residential Loans For Sale
Mortgage Daily, Mar. 9, 2017The offering was announced by First Financial Network Inc., which is acting on behalf of the National Credit Union Administration.
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Oregon Lawmakers Look to Rein In Massive Mortgage Interest Tax Break
The Oregoinan, Mar. 9, 2017--Gordon R. FriedmanLawmakers are looking to trim the popular mortgage interest deduction that gives more than a half-million Oregon households a break on their state income taxes.
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AIG CEO Peter Hancock to Resign After Turnaround Plan Falters
Wall Street Journal, Mar. 9, 2017--Leslie Scism; Joann S. Lublin (subscription)American International Group Inc. Chief Executive Peter Hancock, apparently having lost the faith of the insurer's directors, quit at a board meeting Wednesday where his future was being discussed.
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Nationstar Facing CFPB Fine over HMDA Violations
HousingWire, Mar. 9, 2017--Ben LaneNationstar Mortgage is facing a fine from the Consumer Financial Protection Bureau over the nonbank's alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act, the company revealed Thursday.
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MBA Compliance Essentials Successor in Interest State Level Reports Pre-Order Available
Need guidance on Successor in Interest state laws? No problem: MBA Education and MBA Compliance Essentials has you covered with a new publication, Successor in Interest--State Level Reports.
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