Category: Top National News

Bloomberg, July 1, 2019–Chrisopher MaloneyA massive wave of homeowners now has an incentive to refinance their mortgages and they could find the process faster than it’s been in recent memory thanks to technology improvements.

American Banker, July 1, 2019–Ken McCarthy (subscription)The $10.1 billion-asset Customers disclosed in a regulatory filing Monday that it could record a $7 million to $8 million charge after an unnamed commercial mortgage warehouse client shut down in May.

Wall Street Journal, June 28–Josh Mitchell (subscription)The report issued Friday by the Council of Economic Advisers looked in isolation at 20 rules in the Trump administration’s broader economic agenda, which has also included new tariffs that economists and industries say have driven up some consumer prices.

American Banker, June 30, 2019–John Heltman (subscription)Russ Golden, chairman of the Financial Accounting Standards Board, is defending the board’s decision to require all publicly traded firms to proactively report and set aside reserves for credit losses, saying the move would make the financial system safer and is worth the cost.

USA Today, June 27, 2019–Grant SunesonJust as home prices vary from state to state, so does the average mortgage debt.

American Banker, June 27, 2019–John Heltman, John Reosti (subscription)The Financial Accounting Standards Board is considering whether to consolidate or delay the deadlines for smaller firms to comply with a contentious new credit loss accounting standard, according to the association’s chairman.

Forbes, June 27, 2019–Francisco AlvaradoAccording to real estate research firm Attom Data Solutions, 7.2 % of all U.S. home sales during Q1 2019 were flipped homes, the highest rate in nearly a decade. But it’s a cottage industry ripe for mortgage fraud that only gets exposed when an investment goes south, legal experts say.

HousingWire, June 27, 2019–Jessica GuerinThe latest report from the Office of the Comptroller of the Currency showed an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter.

Bloomberg, June 27, 2019–Saleha MohsinThe White House is developing a plan to cut taxes by indexing capital gains to inflation, sources said, in a move that would largely benefit the wealthy and may be done in a way that bypasses Congress.

HousingWire, June 26, 2019–Jessica GuerinThe Blue Water Navy Vietnam Veterans Act allows homebuyers to borrow above the 2019 limit of $484,350 for most counties without any down payment.