Category: Top National News

National Mortgage News, Jan. 29, 2019–Neil Haggerty (subscription)The Senate Banking Committee will examine proposals to “fix the flawed” housing finance system in the new Congress, according to a summary of Chairman Mike Crapo’s legislative priorities unveiled Tuesday.

The Real Deal (New York), Jan. 29, 2019–Kevin SunFor the first time in years, the agency has asked a number of these lenders to improve financial metrics before receiving full approval to continue issuing Ginnie Mae-backed mortgage bonds.

The Mortgage Leader, Jan. 22, 2019Blend has hired Tim Mayopoulos, former CEO of Fannie Mae, as president of the company. Mayopoulos will lead Blend’s go to market and corporate support functions, take a seat on the board and report to Nima Ghamsari, CEO of Blend.

National Mortgage News, Jan. 22, 2019–Bonnie Sinnock (subscription)In a slow mortgage market, construction loans are considered the most likely source of growth for lenders, according to Altisource’s latest annual originations survey.

Fox Business, Jan. 23, 2019–Brittany De LeaHomebuyers are increasingly opting for nontraditional mortgages – Opens a New Window. which helped precipitate the housing crisis about one decade ago – potentially foreshadowing trouble as high prices continue to weigh on housing affordability. (MBA mention)

Wall Street Journal, Jan. 23, 2019–Ben Eisen (subscription)A flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. These loans, aimed at buyers with unusual circumstances such as those who can’t provide the standard proofs of income, are growing rapidly even as rising interest rates and higher home prices crimp demand for mortgages.

Urban Institue, Jan. 23, 2019The Urban Institute’s Mortgage Servicing Collaborative agrees that the FHA could improve outcomes for borrowers and mitigate costs for servicers by simplifying requirements.

National Mortgage News, Jan. 24, 2019–Elina Tarkazikis (subscription)While the London interbank offered rate won’t go dark until 2021, the commercial real estate finance industry should start preparing for the transition now, says the Mortgage Bankers Association.

Wall Street Journal, Jan. 24, 2019–Andrew Ackerman (subscription)Lawmakers from both parties plan to take a fresh crack at getting Fannie Mae and Freddie Mac, two companies that underpin nearly half of U.S. mortgages, out of government control.

American Banker, Jan. 24, 2019–John Heltman (subscription)When Sen. Elizabeth Warren, D-Mass., sent a letter last week to some of the largest banks asking for details about what they were doing to aid customers affected by the government shutdown, many firms had to confront an all-too-familiar public relations dynamic: playing defense. Banks had already been quick to point out that many of them were taking action to help their customers–a point that Warren herself acknowledged.