The Lede
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DC’s Housing Market Has a New Kind of Buyer, and It’s Needed
WTOP, Mar. 11, 2019--Jeff Clabaugh"The past couple of weeks seeing an increase in the average loan size suggests that some move-up buyers are entering the market and even some activity at the higher end pushing up that loan size," said Mike Fratantoni, chief economist with the Mortgage Bankers Association.
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Homeownership is on the Rise Thanks to Young Buyers
The Mortgage Reports, Mar. 11, 2019--Aly J. YaleMore and more Americans are becoming homeowners--and younger generations are leading the charge. According to new data, owner households grew by more than 1 million last quarter, marking the eighth quarter in a row to see such growth.
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Wells Fargo’s Sloan to Congress: ‘We are Taking Responsibility’
National Mortgage News, Mar. 11, 2019--Hannah Lang (free article)Ahead of his testimony to Congress, Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising.
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MBA Releases ‘The Roadmap to CFPB 2.0’
National Mortgage Professional, Mar. 11, 2019--Phil HallThe Mortgage Bankers Association published "The Roadmap to CFPB 2.0," a new paper that offers the trade group's recommendations on strengthening the mission of the Consumer Financial Protection Bureau.
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CECL Spells Trouble for Small Banks, Consumers
American Banker, Mar. 11, 2019--Blaine Luetkemeyer (free article)The author, a Democrat from Missouri on the House Financial Services Committee, says the Current Expected Credit Loss standard proposed by the Financial Accounting Standards Board threatens to eliminate some lending services and restrict access to credit, particularly for low-income families.
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Insurance Rates Seen Rising in Flood-Prone Areas With Trump Plan
Bloomberg, Mar. 12, 2019--Christopher FlavelleFEMA said it didn't yet know what the effect of the new system would be on premiums. But rates are likely to go up in neighborhoods with the greatest exposure to flood risks, which could hurt property values in those areas, according to Michael Berman, a former chairman of the Mortgage Bankers Association.
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Takeaways from Trump Budget: CFPB Reform, FHA Fees and Student Loans
National Mortgage News, Mar. 11, 2019--Neil Haggerty, Kate Berry (free article)Republican lawmakers have sought to reform the CFPB's funding every year since the bureau was created, in 2011, by proposing to add the agency to congressional appropriations. The president's budget proposes much of the same. Yet it is unlikely that Congress--particularly the Democratic-controlled House--would enact such a measure.
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MBA National Advocacy Conference in D.C. Apr. 2-3
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 2-3 at the Capital Hilton in Washington, D.C.
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MBA National Advocacy Conference in D.C. Apr. 2-3
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 2-3 at the Capital Hilton in Washington, D.C.
Full Story
MBA National Advocacy Conference in D.C. Apr. 2-3
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 2-3 at the Capital Hilton in Washington, D.C.
Full Story