Category: Top National News

HousingWire, Oct. 30, 2018–Jessica GuerinFederal Housing Administration Commissioner Brian Montgomery said Tuesday the agency is working to address the volatility within the reverse mortgage program, hinting that the industry can expect more change ahead.

National Mortgage News, Oct. 30, 2018–Elina Tarkazikis (subscrption)Housing policies are helping the number of vacant foreclosure homes drop, which could also mean homebuyers have been taking advantage of these properties as inventory continues to be constrained.

Wall Street Journal, Oct. 30, 2018–Esther Fung (subscription)It seemed one of the surest bets in real estate: build senior-housing facilities that cater to aging baby boomers who will require more care. The problem is, boomers haven’t much cooperated.

HousingWire, Oct. 29, 2018–Ben LaneIn the wake of taking action against SoFi for allegedly lying in its ads about how much borrowers can save by refinancing their student loans with the online lender, the Federal Trade Commission is also warning other lenders to not engage in similar activity.

National Mortgage News, Oct. 29, 2018–Josh Migdal (subscription)The author, with law firm Mark Migdal & Hayden, says there are signs in the nonbank mortgage market that now indicate there may be serious issues ahead.

National Mortgage News, Oct. 28, 2018–Hannah Lang (subscription)Michael Bright’s nomination to become president of Ginnie Mae has been pending since May and the agency that provides funding for government-insured mortgages has been without a permanent chief for almost two years.

Bloomberg, Oct. 27, 2018–Alexandre TanziThe median length of time Americans have owned their homes rose to a record of more than eight years in the third quarter, according to ATTOM Data Solutions. That’s up from 4.5 years when the recession ended in June 2009.

Mortgage Daily, Oct. 26, 2018As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis, said Moody’s Investors Service.

National Mortgage News, Oct. 25, 2018–Elina Tarkazikis (subscription)Protecting consumers from intrusive cold calls and fax-spamming is having adverse effects on the mortgage industry as the Federal Communications Commission fails to reasonably interpret language under the Telephone Consumer Protection Act, according to the Mortgage Bankers Association.

Mortgage Daily, Oct. 25, 2018A second lawsuit has been filed against the Office of the Comptroller of the Currency alleging that a new OCC charter for non-banks violates federal laws and procedures. But the OCC is confident in its authority.