The Lede
Top National News
GOP Tax Plan Would Shrink Mortgage Interest Benefit, Slash Corporate Tax Rate
Washington Post, Nov. 2--Damian Paletta; Mike DeBonis House Republican leaders on Thursday proposed legislation that would overhaul the U.S. tax code, slash corporate and individual income tax rates and jettison numerous tax breaks Americans and businesses have used for years to limit their tax bills.
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Mortgage Rates Hold Steady But are Poised to Move Higher
Washington Post, Nov. 2, 2017--Kathy OrtonMortgage rates paused ahead of news from this week's Federal Reserve meeting, the announcement of the nominee for the central bank's new chairman and Friday's employment report.
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Supply Shortage in U.S. Sends Home Prices Higher
Wall Street Journal, Nov. 2, 2017--Laura Kusisto (subscription)Home prices climbed and sales declined during the third quarter as a chronic supply shortage continued to disrupt the housing market.
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Fannie Mae Keeping an Eye on Servicers’ Hurricane Response
National Mortgage News, Nov. 2, 2017--Bonnie Sinnock (subscription)Expected losses from the recent hurricanes put a dent in Fannie Mae's third-quarter earnings and the mortgage agency is keeping a close eye on how its servicers manage the pressures of the recovery effort.
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Fannie Mae Makes $3Bn; One-Third of Single-Family Now Private Risk Transfer
HousingWire, Nov. 2, 2017--Jacob GaffneyThe largest financier of single-family homes in the nation, Fannie Mae, made $3 billion in the third quarter. That's a decrease of $177 million from the second quarter of 2017 driven primarily by hurricane-related provision for credit losses.
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U.S. Third Quarter Productivity Fastest in Three Years; Jobless Claims Fall
Reuters, Nov. 2, 2017--Lucia MutikaniU.S. worker productivity increased at its fastest pace in three years in the third quarter but the trend remained moderate, suggesting that a recent acceleration in economic growth was unlikely to be sustained.
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Trump Announces Nomination of Jerome Powell to Chair Federal Reserve
The Hill, Nov. 2, 2017--Sylvan LanePowell, a Republican appointed to the Fed by President Obama in 2012, served as a Treasury Department undersecretary during the George W. Bush administration.
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Nationstar Mortgage Lending Jumps, Could Go Higher
Mortgage Daily, Nov. 2, 2017A sequential acceleration in home-lending activity at Nationstar Mortgage Holdings Inc. is likely to repeat as the company trimmed refinance share. Delinquency dropped.
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Big Technology Enhancements Ahead At BofA
Charlotte Observer, Nov. 2, 2017--Deon RobertsFor years, bank customers have relied on user IDs and passwords to access their online accounts. From a security standpoint, that's no longer a smart practice, said Bank of America executive Michelle Moore.
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Mortgage Industry Stands Behind Trump’s Fed Chair Pick
HousingWire, Nov. 2, 2017--Kelsey Ramirez"[Jerome] Powell brings substantial experience at the Fed, at Treasury and in the private sector to this critically important role," said MBA Chief Economist Mike Fratantoni. "His work at the Fed through this challenging recovery should enable him to carefully guide monetary and regulatory policies in the years ahead in a manner that provides the environment for further, sustainable growth."
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Ocwen Moves Closer to Profitability Amid Extensive Business Changes
HousingWire, Nov. 2, 2017--Ben LaneIt's been a rough year for Ocwen Financial, but the company's executives said Thursday that they believe they have the company pointed in the right direction.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Fundamentals and Best Practices in Mortgage Accounting Workshop Nov. 13
MBA Education presents Fundamentals and Best Practices in Mortgage Accounting, a one-day workshop taking place Monday, Nov. 13 in San Antonio, Texas, ahead of the MBA Accounting and Financial Management Conference.
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MBA Education/Compliance Essentials Understanding Successor in Interest Requirements Webinar Nov. 6
MBA Education and Compliance Essentials presents a new webinar, Understanding Successor in Interest Requirements, on Monday, Nov. 6 from 2:00-3:30 p.m. ET.
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CREF18 in San Diego Feb. 11-14
The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.
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CREF18 in San Diego Feb. 11-14
The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.
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CREF18 in San Diego Feb. 11-14
The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.
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