Category: Top National News

Colorado Real Estate Journal, July 13, 2019–Cooper WilliamsAccording to research conducted by the Mortgage Bankers Association, the insurance companies’ mortgage debt holdings increased by 9% in 2018, which is higher than the overall market average for multifamily debt holdings.

Naitonal Mortgage News, July 14, 2019–Jon Prior (subscription)Banks have reduced their holdings of foreclosed one- to four-unit family residences to roughly $2.6 billion of homes, down from more than $14 billion during the fallout of the housing market’s collapse in 2010, according to Federal Deposit Insurance Corp. data.

Wall Street Journal, July 12, 2019–Yuka Hayashi (subscription)Critics say the Consumer Financial Protection Bureuau’s push shifts the burden of consumer protection from financial companies to ordinary citizens.

Bloomberg, July 12, 2019–Saleha Mohsin, Jennifer Jacobs, Austin WeinsteinThe Trump administration is growing wary of taking bold steps toward freeing Fannie Mae and Freddie Mac from federal control before the 2020 election, said people familiar with the matter, in part because of the political risk of potentially upending the U.S. mortgage market.

Scotsman Guide, July 10, 2019–Arnie AurellanoA bill approved this week by the House clarifies when mortgages backed by the U.S. Department of Veterans Affairs qualify to be pooled into Ginnie Mae securities.The Mortgage Bankers Association sent a letter to House leadership ahead of the vote on the bill, urging its passage.

HousingWire, July 10, 2019–Jessia GuerinThe House of Representatives passed a bill Tuesday that slashes the cost of upfront mortgage insurance for first-time homebuyers using mortgages backed by the Federal Housing Administration. The Mortgage Bankers Association applauded the bill’s passage. “MBA has long advocated for increased access to housing counseling as a means to provide a more positive experience for first-time homebuyers unfamiliar with the homeownership process, as well as for other underserved communities,” MBA said.

National Mortgage News, July 10, 2019–Bonnie Sinnock (subscription)Nearly two-thirds of consumers think they must be debt-free to get home financing when in fact they can have debt-to-income levels as high as 43% or greater, according to Wells Fargo.

National Mortgage Professional, July 10, 2019–Phil HallNearly half of homeowners are planning a property renovation in the next two years, but only one-quarter will finance it with a home equity line of credit, according to new data from TD Bank.

American Banker, July 10, 2019–Andy Peters (subscription)The economy remains strong and Americans hold trillions of dollars in equity in their homes. So why are delinquencies tied to home equity products on the rise?

American Banker, July 9, 2019–Hannah Lang (subscription)Recent expectations have grown that the Trump administration may prepare aggressive action to end the conservatorships of Fannie Mae and Freddie Mac, but some mortgage policy observers are speculating that a much-anticipated Treasury Department report on housing finance reform plans could be short on details.