Category: Top National News

Washington Post, May 30, 2018–Kenneth HarneyThe two biggest sources of home-mortgage money in the country, investors Fannie Mae and Freddie Mac, are quietly working on ways to make qualifying for a home purchase easier for participants in the booming “gig” economy.

Mortgage Daily, May 30, 2018Among S. 2155’s provisions is a prohibition of Ginnie Mae guaranteeing mortgage-backed securities containing certain loans guaranteed by the Department of Veterans Affairs.

Forbes, May 30, 2018–Evan GentryDespite fears of trade wars and increased protectionism, foreign investment in the United States remains robust. A significant amount of this capital is flowing to commercial real estate, which continues to be the sector of choice for many foreign investors.

HousingWire, May 30, 2018–Kelsey RamirezThe Federal Reserve explained it is seeking to reducing banks’ compliance costs while maintaining the rule’s effectiveness and consistency.

National Mortgage News, May 29, 2018–Brad Finkelstein (subscription)Ditech Holding Corp. has received a second notice from the New York Stock Exchange warning its common stock could be delisted for not being in compliance with the exchange’s requirements. The company has yet to announce its first-quarter results and has not filed its 10-Q with the Securities and Exchange Commission.

DS News, May 29, 2018–David WhartonOcwen Financial Corporation, a financial services holding company, today announced that EVP and CFO Michael Bourque has made the decision to resign.

HousingWire, May 29, 2018–Jacob GaffneyAccording to the Federal Housing Finance Agency, the average loan amount for all loans was $312,900 in April. That’s down $4,400 from $317,300 in March. But, there is no denying that mortgage rates will keep going up.

Bloomberg, May 25, 2018–Devin Leonard, Elizabeth Dexheimer (subscription)The ultimate goal, Mulvaney says, is to move the Consumer Financial Protection Bureau beyond the realm of partisan bickering and turn it into what he calls one of the “gold-standard” regulators, like the U.S. Securities and Exchange Commission. To do that, he says he’ll have to disassociate the CFPB from its origins.

National Mortgage News, May 25, 2018–Kate Berry (subscription)On the one hand, acting Consumer Financial Protection Bureau Mick Mulvaney’s comments that he wants to ease Home Mortgage Disclosure Act requirements imposed by his predecessor is welcome news. But on the other, more data helps lenders know how they stack up to the competition, and lenders may end up collecting the data anyway.

Mortgage Daily, May 25, 2018Not only did the mortgage servicing portfolio grow at The Money Source Inc., but the number of people working for the home lender increased.