Category: Top National News

American Banker, Sept. 6, 2019–Hannah Lang (subscription)The Trump administration’s report on the nation’s housing finance system raised the goal posts for ending the conservatorships of Fannie Mae and Freddie Mac, but how officials get there is still highly uncertain.

Mortgage Professional America, Sept. 4, 2019–Steve RandallThe Mortgage Bankers Association’s 2019 Home Equity Lending Study reveals that closed-end Home Equity loans are set for gains this year and next while open-ended HELOCs will decline this year before rising in 2020.

National Mortgage News, Sept. 4, 2019–Bonnie Sinnock (subscription)Syracuse Securities Inc., a family-run lender and servicer in New York, is planning to wind down and transfer its outstanding pipeline to Premium Mortgage Corp.

WTOP (Washington, D.C.), Sept. 3, 2019–Jeff Clabaugh”On average, the industry is taking anywhere from 40 to 60 days for an application to close,” said Joel Kan of the Mortgage Bankers Association. “Our estimate is for high volume to close in the third quarter with some of that being pushed into the fourth quarter just because of the high volume of applications we’re seeing come in right now.”

American Banker, Sept. 3, 2019–Penny Crosman (subscription)A year ago, the three major credit bureaus – Equifax, Experian and TransUnion – stopped including public information about unpaid taxes and court debts in consumers’ credit reports. A year later, some say the absence of this data is contributing to poor lending decisions.

MReport, Sept. 1, 2019–Brian O’ReillyWhile the public debate has often envisioned and emphasized the need for legislative action, that avenue has been, and continues to be, an uphill battle in an unprecedented partisan political landscape. Still, stable growth in the housing market, strong employment, and the potential for rising interest rates point to the increasing need to establish a “new normal” for housing finance. (MBA mention)

MReport, Aug. 30, 2019–Seth WelbornMortgage debt is at an all time high as home prices rise to record levels, according to a report from HowMuch.net.

Wall Street Journal, Aug. 30, 2019–Ben Eisen (subscription)”Contracts for deed,” prone to abuse, are often only choice for buyers shut out of mortgage market.

American Banker, Aug. 29, 2019–Hannah Lang (free article) The mortgage industry will be looking for answers when the Trump administration unveils its plans to shake up the housing finance system and end the conservatorships of Fannie Mae and Freddie Mac. But the blueprints could raise just as many questions. (MBA mention)

HousingWire, Aug. 29, 2019–Kelsey RamirezLenders reported making a profit on mortgages in the second quarter. In fact, according to a report released Thursday by the Mortgage Bankers Association, lenders made the highest profit per loan they’ve seen since 2016.