Category: Top National News

Bloomberg, May 16, 2018–Claire BostonIf the housing market weakens, and unemployment starts rising, mortgage bond investors could find their securities losing value, money managers warn.

Governing Magazine, May 14, 2018–J. Brian CharlesSome cities are turning to vacant property taxes to nudge property owners of both retail and residential spaces to lease, develop or sell their properties before a short-term vacancy turns into what some cities see as blight.

National Mortgage News, May 14, 2018–Bonnie Sinnock (subscription)Angel Oak Mortgage, which originated more than $1 billion in loans outside the ability-to-repay rule’s safe harbor last year, plans to produce at least twice that volume in 2018.

Bloomberg, May 15, 2018–Jesse Hamilton, Benjamin BainAdditional changes the regulators intend to propose include making it easier for banks to stockpile assets that their customers may want to buy in the near term and dialing back compliance burdens for smaller lenders. The agencies expect to release the proposal by the end of the month.

DS News, May 14, 2018–David WhartonSeveral lenders, including Wells Fargo and Bank of Hawaii, have announced mortgage relief for homeowners impacted by the disaster.

National Mortgage News, May 11, 2018–Bonnie Sinnock (subscription)Nationstar Mortgage may face a Consumer Financial Protection Bureau enforcement action over alleged violations of the Real Estate Settlement Act and other regulations, the Mr. Cooper parent company said.

UExpress, May 11, 2018–Lew SichelmanHome Equity Conversion Mortgages may be a good choice for some seniors who fear they might outlive their retirement funds and will need cash to enjoy their remaining years. But they aren’t the only options elder owners might want to consider.

New York Times, May 13, 2018 (Editorial)The Times’ editors say HUD Secretary Ben Carson is illegally trying to sweep aside rules that are fully consistent with the Fair Housing Act. It supports a lawsuit filed by community groups and says the court should force HUD to reinstate and fully enforce those rules.

Mortgage Daily, May 11, 2018The product, dubbed Community Program by Arch Mortgage Guaranty Co., allows loan-to-value ratios as high as 100 percent for professionals–including mortgage bankers.

CNN Monty, May 11, 2018–Lydia DePillisNewly released federal data on mortgage lending from the Consumer Financial Protection Bureau shows people with low- and moderate-incomes made up only 26.3% of borrowers in 2017, down from 36.6% in 2009. “Profit margins on lending have come down quite a bit,” says Mike Fratantoni, chief economist at the Mortgage Bankers Association, which represents both banks and non-banks. “So a number of banks have de-emphasized their mortgage lending, because there are other business lines they can focus on.”