The Lede
Top National News
MBA: Storms Helped Boost Mortgage Delinquency Rate in Q3
Mortgage Orb, Nov. 20, 2017--Patrick BarnardThe mortgage delinquency rate was about 4.88%, on a seasonally-adjusted basis, as of the end of the third quarter, an increase of 64 basis points compared with the second quarter and an increase of 36 basis points compared with the third quarter of 2016, according to data from the Mortgage Bankers Association.
Full Story
MCS to Acquire Carrington Property Preservation Division
National Mortgage News, Nov. 20, 2017--Elina Tarkazikis (subscription)Mortgage Contracting Services, an REO field services, appraisal management, title and settlement services vendor, will acquire Carrington Home Solutions' property preservation division in a deal expected to close by the end of the year.
Full Story
Walter’s Bankruptcy Won’t Affect Ditech’s Servicing Ability
National Mortgage News, Nov. 20, 2017--Brad Finkelstein (subscription)The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.
Full Story
Yellen to Leave Fed Board When New Central Bank Chief Takes Over
Wall Street Journal, Nov. 20, 2017--David Harrison, Harriet Torry (subscription)Federal Reserve Chairwoman Janet Yellen said Monday she would resign as a member of the Fed's board of governors once her successor as Fed leader has been sworn in.
Full Story
HUD Data Finds Spike in Reverse Mortgage Foreclosures
National Mortgage Professional, Nov. 20, 2017--Phil HallLast year saw a 646 percent increase in foreclosures against seniors with federally insured reverse mortgages as compared to the previous seven years, according to HUD data received by a Freedom of Information Act request made by the California Reinvestment Coalition and Jacksonville Area Legal Aid.
Full Story
U.S. Treasury Yields Rise After Economic Indicators Surprise Wall Street
CNBC, Nov. 20, 2017--Alexandra GibbsLeading indicators rose by 1.2 percent in October, double the 0.6 percent increase expected by economists polled by Reuters. In September, the index declined 0.2 percent, according to the Conference Board.
Full Story
Low Credit Scores Cost Borrowers 59 BPS
Mortgage Daily, Nov. 20, 2017Home buyers who financed the purchase of their house and had high credit scores saw rates that were 59 basis points better than their poor-credit counterparts, said LendingTree.
Full Story
Who Are Best Mortgage Employers?
Mortgage Daily, Nov. 20, 2017--Sam GarciaWithin the real estate finance industry, some companies have earned the distinction of being the best employers among other similarly sized firms in their cities based on worker surveys.
Full Story
Once-Hot Apartment Construction Cooling as U.S. Housing Engine
Bloomberg, Nov. 20, 2017--Shobhana Chandra; Vince Golle; Jordan YadooFaster apartment building was instrumental in pulling the U.S. housing market out of its slump a decade ago. Now, that engine is starting to throttle back.
Full Story
Mobile Homes Are So Expensive Now, Hurricane Victims Can’t Afford Them
Bloomberg, Nov. 21, 2017--Prashant GopalHurricane victims emerging from ravaged trailer parks are discovering that the U.S. mobile-home market has left them behind.
Full Story