Category: Top National News

National Mortgage News, Nov. 15, 2018–Brad Finkelstein (subscription)Fannie Mae completed 10 traditional and front-end credit risk insurance transactions during 2018 sharing $2.6 billion of risk, including $192 million in its final deal of the year.

San Bernardino Sun (Calif.), Nov. 15, 2018–Jeff LazersonServicers are authorized to suspend or reduce homeowner’s mortgage payments for up to 90 days without any contact with the homeowner if the servicer believes the homeowner has been affected by a disaster.

NPR, Nov. 15, 2018–Jim ZarroliWith Democrats assuming control of the House in January, Rep. Maxine Waters, D-Calif., is about to become more visible than ever before, with the power to slow down an important part of Trump’s agenda and even shine a light on his company’s finances. “Waters is a skilled legislator, and she has devoted considerable energy to issues affecting the mortgage industry, such as affordable housing, and we look forward to continuing to work with her,” says Robert Broeksmit, president of the Mortgage Bankers Association.

HousingWire, Nov. 13, 2018–Alcynna LloydOn Tuesday, Amazon finally announced it selected Long Island City, N.Y., and Crystal City in Arlington County, Va., as the split locations for its HQ2, and data suggests that the real estate markets in these areas saw a surge of interest when speculation of their selection first arose last week.

Wall Street Journal, Nov. 14, 2018–Richard Rubin, Ruth Simon (subscription)Wealthy investors, fund managers and real-estate developers are racing to take advantage of a tax incentive meant to spur economic growth in neglected areas.

National Mortgage Professional, Nov. 13, 2018–Phil HallA new data analysis from CoreLogic determined 48,390 homes with a total reconstruction cost value of $18 billion are at high or extreme risk of wildfire damage from ongoing fires in California.

Wall Street Journal, Nov. 9, 2018–Lalita Clozel (subscription)The Federal Reserve plans to broaden its proposal to ease stress tests for the nation’s largest banks with changes that could reduce the chance they fail the annual assessments.

American Banker, Nov. 9, 2018–Hannah Lang (subscription)The revised blueprint by Moelis & Co. LLC, which serves as a financial adviser to some Fannie and Freddie shareholders, incorporates a plan by the mortgage companies’ regulator for them to adopt risk-based capital requirements. The original Moelis plan released in June 2017 had drawn mixed reviews from the industry.

HousingWire, Nov. 12, 2018–Ben LaneWells Fargo announced late last week that it reached a settlement with a group of institutional investors, which includes funds affiliated with investing giants BlackRock and PIMCO, to bring a pair of class action lawsuits to a close.

Scotsman Guide, Nov. 8, 2018–Victor WhitmanMortgage delinquencies edged up 11 basis points over the third quarter to hit 4.47 percent to end September, moving higher in several states in the South region in the wake of Hurricane Florence and Tropical Storm Gordon, the Mortgage Bankers Association reported.