HousingWire, May 22, 2018–Kelsey RamirezPanelists at the MBA National Secondary Market Conference said the key to expanding access to credit is focusing on first-time homebuyers. Currently, the homeownership rate among younger families is not only below 2007 levels but also below the 2001 to 2006 levels, according to Tian Liu, Genworth Mortgage Insurance chief economist.
Category: Top National News
Who Needs a Down Payment? Trade In Your Old Home Instead
Wall Street Journal, May 22, 2018–Laura Kusisto (subscription)Soon it may be nearly as easy to trade in an old home for a new one as it is to dispense with a used car. Open Door Labs Inc., a San Francisco startup that buys homes in cash and turns around and flips them, is getting into business with home builders.
Stability Encumbers CMBS Market
Commercial Property Executive, May 22, 2018–Paul FiorillaForged out of crisis and sharpened during a cycle of frenetic activity, the commercial mortgage-backed securities market is struggling to adjust to a period of relative calm.
MBA Secondary: Predicting the Future of Housing Policy
HousingWire, May 21, 2018–Sarah WheelerWith several key housing appointments still vacant and uncertainty building around legislative direction after the upcoming mid-term elections, forecasting the future of housing finance is tricky.
U.S. Treasury Advocates for Financial Reform and Digitalization
HousingWire, May 21, 2018–Kelsey RamirezAt the Mortgage Bankers Association Secondary conference in New York, Treasury Counselor to the Secretary Craig Phillips touched on digital technology, and the changes it is bringing, and needs to bring, to the mortgage industry.
CFPB Signals Pullback on Discrimination Cases
National Mortgage News, May 21, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau is looking to rewrite Obama-era regulations that sought to punish banks and financial firms for unintentional discrimination.
Risk-Based Pricing for Mortgage Insurance
Mortgage Daily, May 21, 2018National Mortgage Insurance Corp. will begin offering premiums that are based a loan’s risk profile determined by a variety of underwriting factors.
HUD Kills Key Tool Used to Enforce Obama Fair Housing Rule
HousingWire, May 18, 2018–Ben LaneHUD announced late Friday afternoon that it is “withdrawing a computer assessment tool originally intended to be helpful to local governments in meeting their obligations under the Fair Housing Act to ‘affirmatively further fair housing.'”
ABA Survey Finds Reg Burden Still Holding Back Mortgage Lending
ABA Banking Journal, May 18, 2018A majority of bankers–77 percent–agree that burdensome mortgage regulations continue to have a negative effect on business production, according to the American Bankers Association’s 25th annual Real Estate Lending Survey released today. Nearly three in four said that Qualified Mortgage rules in particular have reduced credit availability.
MBA Secondary: Leaders of Big Banks and IMBs Agree–A Shakeout is Coming
HousingWire, May 20, 2018–Sarah WheelerThe mood was upbeat as the Mortgage Bankers Association Secondary Market Conference and Expo kicked off in New York City on Sunday with a panel on executive perspectives, but the message from the first panel contained a warning.