National Mortgage News, Sept. 19, 2019–Hannah Lang (subscription)In its vision for the future of housing finance, the Trump administration foresees a smaller role for the Federal Housing Administration. Yet many of the ideas outlined for the FHA in a Sept. 5 report by HUD have raised eyebrows and have some former FHA officials concerned.
Category: Top National News
Flagstar Recovers a Small Portion of Its Loan to Live Well
National Mortgage News, Sept. 19, 2019–Brad Finkelstein (subscription)Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.
Burgeoning Real Estate Giant Pretium Buys Deephaven Mortgage from Varde Partners
HousingWire, Sept. 19, 2019–Ben LanePretium, an investment management firm that already owns one of the nation’s largest single-family rental operators and buys non-performing loans from Fannie Mae and Freddie Mac by the truckload, is now in the non-Qualified Mortgage lending business after acquiring Deephaven Mortgage.
Led by Trump Appointee, CFPB is Back in the Enforcement Business
National Mortgage News, Sept. 18, 2019–Kate Berry (subscription)The Consumer Financial Protection Bureau has ratcheted up investigations and enforcement actions in the past few months, an apparent shift by the agency under Director Kathy Kraninger, who had initially signaled that supervision would be the primary focus in her tenure.
Mortgage Investors Need Not Fear Supply Surge From New Housing
Bloomberg, Sept. 18, 2019–Christopher MaloneyMortgage investors are unlikely to see a net supply surge even should interest rates continue to move lower, if only because the pace of new home construction is far slower than it used to be.
Life Insurance Companies to Fuel Multifamily Surge in 2020
HousingWire, Sept. 17, 2019–Kelsey RamírezLife insurance companies are set to create a surge in multifamily lending in 2020, according to a new study from the Mortgage Bankers Association.
Housing Industry Calls for End of QM Patch, DTI Limits
HousingWire, Sept. 17, 2019–Kelsey RamirezA rule that allows government-sponsored enterprises Fannie Mae and Freddie Mac to sidestep stricter mortgage underwriting requirements is set to expire in 2021, and while that may seem like a ways away, its pending removal has sparked widespread debate throughout the industry. (MBA mention)
CFPB’s Kraninger Agrees: Her Job Security is Unconstitutional
National Mortgage News, Sept. 17, 2019–Kate Berry (subscription)Kathy Kraninger, the director of the Consumer Financial Protection Bureau, gave more support Tuesday to the Trump administration’s position that the agency she runs exceeds constitutional limits.
Senate Dems Urge CFPB to Extend QM Patch
American Banker, Sept. 17, 2019–Neil Haggerty (subscription)Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.
How Once-Doomed Mortgage Giants Gained New Lease on Life
Wall Street Journal, Sept. 13, 2019–Andrew Ackerman, Nick Timiraos (subscription)For years after the 2008 mortgage-market meltdown, Republicans and Democrats agreed on little about what to do with Fannie Mae and Freddie Mac except one thing: Get rid of them. A Trump administration housing-finance roadmap released last week would do the opposite.