The Lede
Top National News
Could Homeowners See Their Beloved Mortgage Interest Deduction Threatened by Tax Reform?
Dallas News, Sept. 15, 2017--Tom BenningThe perk that so many tout as critical to boosting homeownership could be threatened as Congress pursues what would be the first major overhaul of the tax code in three decades.
Full Story
Equifax Hack: The Real Estate Industry Is Just As Vulnerable
Forbes, Sept. 15, 2017--Lara O'KeefeLast week's Equifax data breach shed light once again on the possible ramifications of hacks in the commercial real estate industry if companies do not invest in cybersecurity tech.
Full Story
Nonprofits Offering Realty Services
UExpress, Sept. 15, 2017--Lew SichelmanNonprofits that work with mostly low- and moderate-income families to widen their homeownership opportunities are expanding their missions into helping clients actually buy and sell houses.
Full Story
One House, 22 Floods: Repeated Claims Drain Federal Insurance Program
Wall Street Journal, Sept. 15, 2017--Ruth Simon (subscription)Brian Harmon had just finished spending over $300,000 to fix his home in Kingwood, Texas, when Hurricane Harvey sent floodwaters "completely over the roof." It has flooded 22 times since 1979, making it one of the most flood-damaged properties in the country.
Full Story
Trump Names Richard Burkhauser as Final Member of Council of Economic Advisers
Wall Street Journal, Sept. 15, 2017--Nick Timiraos (subscription)President Donald Trump named Richard Burkhauser, an economist who is professor emeritus of policy analysis at Cornell University, as the final member of his Council of Economic Advisers.
Full Story
Redfin: Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent
National Mortgage Professional, Sept. 15, 2017--Phil HallHome prices in August were up 7.7 percent from one year earlier, the largest year-over-year price gain since May 2015, according to new data from Redfin. However, the national median sale price in August was $293,000, unchanged from July, while sales in August fell 5.5 percent compared to last year, the steepest decline posted since July 2016.
Full Story
Fannie’s Origination Estimates Rise Despite Hurricanes’ Impact
National Mortgage News, Sept. 15, 2017--Bonnie Sinnock (subscription)Fannie Mae revised its estimates for 2017 origination volume upward this month, noting that it expects economic strengths to offset weakness in the market from recent hurricanes.
Full Story
Treasury Secretary Mnuchin: Fannie, Freddie Reform a 2018 Issue
HousingWire, Sept. 15, 2017--Kelsey RamirezMnuchin said moving Fannie Mae and Freddie Mac out of conservatorship will come after tax reform, and will be an issue brought up in 2018. He said the mortgage giants still have a lot of changes they need to make before being moved out of conservatorship.
Full Story
Mortgage Biz Up, ARM Share Widest in 20 Months
Mortgage Daily, Sept. 15, 2017During the week ended Sept. 15, the U.S. Mortgage Market Index from Mortgage Daily was 143. The index climbed 8 percent from the prior week.
Full Story
Freddie Eases Appraisal, Condo & Jumbo Policies
Mortgage Daily, Sept. 15, 2017Freddie Mac is now allowing unlicensed and trainee appraisers to perform and sign an appraisal report in accordance with state law. They can also perform a completion report as long as a supervisory appraiser signs it.
Full Story
MBA Calls for Change to HUD Disaster Policy
National Mortgage News, Sept. 15, 2017--Bonnie Sinnock (subscription)At the heart of the MBA's concern is the Department of Housing and Urban Development's interpretation of policy that determines when lenders can re-inspect homes.
Full Story
How Blockchain Technology is Changing Real Estate
Investopedia, Sept. 17, 2017--Joe LiebkindReal estate transactions are often conducted offline involving face-to-face engagements with various entities. Blockchain, however, opened up ways to change this.
Full Story
Housing Effort Poses Test for FEMA After Harvey
Wall Street Journal, Sept. 17, 2017--Dan Frosch, Laura Kusisto (subscription)The effort to find both temporary and long-term housing for the tens of thousands of people displaced by Harvey is already one of the largest missions the Federal Emergency Management Agency has undertaken.
Full Story
Homes Built to Stricter Standards Fared Better in Storm
Wall Street Journal, Sept. 16, 2017--Laura Kusisto, Arian Campo-Flores (subscription)As homeowners in Florida begin to take stock of the damage from Irma, one pattern is beginning to emerge: homes that were built to the stricter building codes seem to have fared better.
Full Story
U.S. Retail Sales Fall After Weaker Results in Prior Months
Bloomberg, Sept. 15, 2017--Sho ChandraAn unexpected decline in August retail sales and downward revisions to the prior two months mainly reflected weaker results at auto dealerships, Commerce Department figures showed Friday.
Full Story
Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Mortgage Accounting Series Begins Oct. 4
MBA Education presents a four-part webinar series, Mortgage Accounting, running four consecutive Wednesdays from 2:00-3:30 p.m. ET beginning Oct. 4.
Full Story