The Lede
Top National News
US Mortgage Interest Tax Deductions Plummeted in 2018
24/7 Wall Street, Sept. 6, 2019--Paul AusickThe number of 2018 tax year returns claiming the mortgage interest deduction plunged from nearly 30.1 million in tax year 2017 to around 11.5 million in 2018, a drop of 62%. (MBA mention)
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Housing Industry Rallies Around Trump’s GSE Reform Plan
HousingWire, Sept. 6, 2019--Kelsey Ramirez"The reports recognize the need to better coordinate the roles of FHA and the GSEs," Mortgage Bankers Association CEO Robert Broeksmit said. "Such coordination must preserve affordable financing options for a wide range of borrowers and reflect the vital role FHA plays in the larger housing finance system."
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Mortgage Rates Fell Again Last Week–And the Fed Could Push Them Even Lower
MarketWatch, Sept. 6, 2019--Jacob PassyThe economy's future may be increasingly uncertain, but the outlook for people looking to take out a home loan is brighter thanks to falling interest rates.
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Powell Signals Rate Cut Likely at Meeting This Month
Wall Street Journal, Sept. 6, 2019--Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell said the U.S. economy faced a favorable outlook despite significant risks from weaker global growth and rising trade uncertainty, and he cited the central bank's turn toward providing more stimulus this year as an important reason for that outlook.
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Hiring by Nonbank Mortgage Companies Picks up and May Keep Climbing
National Mortgage News, Sept. 6, 2019--Bonnie Sinnock (subscription)Nonbank mortgage companies added 4,600 employees to their payrolls in July and may add more to address rate-driven increases in loan volume.
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Apple Cashes in on Boom in Debt Refinancing…
CNBC, Sept. 8, 2019--ERic RosenbaumFor most homeowners who plan to stay in their residence for the long-term and received a mortgage in the last three years, it is worth looking at a refinance opportunity now, said Mike Fratantoni, chief economist at the Mortgage Bankers Association.
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How Fannie and Freddie Have Changed Since the Crisis
Wall Street Journal, Sept. 8, 2019--Ben Eisen, Andrew Ackerman (subscription)The two mortgage giants have shed some risk, paid back their bailout and now report billions in income.
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Judge Dismisses CFPB’s Case Against Ocwen, But Will Let it Refile
National Mortgage News, Sept. 6, 2019--Brad Finkelstein (subscription)A federal judge in Florida dismissed the Consumer Financial Protection Bureau's lawsuit against Ocwen Financial Services, stating the agency improperly asserted an excessive number of claims without specifying the particular count to which they applied.
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Here are the Top 10 Mortgage Lenders of 2018
HousingWire, Sept. 6, 2019--Kelsey RamirezThe Consumer Financial Protection Bureau released its annual data from the Home Mortgage Disclosure Act on Aug. 30 showing which lenders dominated 2018 and which ones fell behind the pack.
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Robotics, 3D Printing Taking Off, But Far From Mainstream
UExpress, Sept. 6, 2019--Lew SichelmanPrinters seem to hold more promise for housing. What is said to be the first 3D-printed house in the country was unveiled in Austin, Texas, last year by nonprofit New Story and sustainable-housing startup ICON. Now, the team intends to use the technology to build an entire community in El Salvador, housing more than 400 individuals.
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