The Lede
Top National News
Consumers Continue to Flock to This Mortgage Segment
Mortgage Professional America, Nov. 13, 2017--Justin da RosaRefinance share of market activity increased to 49% of total applications from 48.7% week-over-week, according to the Mortgage Bankers Association.
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Senate Lawmakers Reach Deal to Ease Post-Crisis Bank Rules
Wall Street Journal, Nov. 13, 2017--Andrew Ackerman, Ryan Tracy (subscription)The bipartisan agreement released Monday, between Republicans led by Senate Banking Committee Chairman Mike Crapo of Idaho and a group of moderate Democrats, would exempt banks with up to $250 billion in assets from heightened oversight from the Federal Reserve, up from a current threshold of $50 billion.
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Re10 Years Later, Home Prices are Back at Bubble Levels
National Mortgage News, Nov. 13, 2017--Elina Tarkazikis (subscription)Home prices have returned to the boom levels of 10 years ago, which originally signaled the bursting of the housing bubble and the onset of the Great Recession, but today's market is notably different.
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Both Parties’ Voters Fear Rising Taxes Could Force a Home Sale
National Mortgage News, Nov. 13, 2017--Brad Finkelstein (subscription)As Congress debates tax reform and which deductions to remove, a majority of homeowners from both parties worried that rising property taxes could force them to sell their house.
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Facebook Launches Massive Push into Real Estate Listings
HousingWire, Nov. 13, 2017--Ben LaneZillow. Trulia. Realtor.com. Redfin. All household names in the real estate listings world, right? Well, those companies now have some serious competition from a company that boasts an audience that dwarfs all of those sites put together--Facebook.
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Real Estate Execs are Betting on Soft Landing in this Boom Cycle
Dallas News, Nov. 13, 2017--Steve Brown More than five years into the current market boom, there's very little commercial real estate oversupply and lenders are keeping a leash on how much is spent for new construction. That's why the CRE industry is talking about breaking the cycle and keeping the property boom running--at least for another year or so.
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Mortgage Firm Acquiring Bank
Mortgage Daily, Nov. 13, 2017Paramount Financial has been approved to become a bank-holding company. As part of the transformation, it will acquire Superior Bank in Hazelwood, Mo.
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Mortgage Subsidies Take Center Stage in Tax Debate
Scotsman Guide, Nov. 13, 2017--Victor WhitmanIn a letter to leaders of the Senate Committee on Finance, MBA President David Stevens praised that the plan preserves the interest deduction with the current $1 million cap on mortgage debt. MBA has issues, though, with its proposal to eliminate deductions on local property taxes, and also removes the interest deduction on home equity lines of credit.
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Thousands of Groups Call on Congress to Use MID Savings for Low-Income Housing
HousingWire, Nov. 13, 2017--Kelsey RamirezA huge coalition featuring thousands of organizations, state and local governments, and elected officials joined together to call on Congress to use the savings derived from any changes to the mortgage interest deduction via the new tax reform bill to fund low-income housing.
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MBS Issuance Slowest in 5 Months at Ginnie
Mortgage Daily, Nov. 13, 2017Securitizations on behalf of Ginnie Mae turned lower last month, falling to the slowest volume in five months. The weak performance came off of a record year.
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Commercial Mortgage Loans Jump 8 Percent in Third Quarter
Financial Regulation News, Nov. 13, 2017--Dave KovaleskiCommercial and multifamily mortgage loan originations were up 8 percent in the third quarter, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
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