Category: Top National News

Mortgage Daily, Apr. 5, 2018Bids are being taken for MSRs on a portfolio of 13,289 loans that had a collective unpaid principal balance of $1.809 billion as of March 31.

HousingWire, Apr. 5, 2018–Ben LaneStone Point Capital, a private equity firm that also owns a piece of Ten-X, is buying a majority stake in American Mortgage Consultants, a provider of outsourced services to participants in the residential and consumer loan mortgage market.

Bloomberg, Apr. 4, 2018–Joe LightNewDay USA and Nations Lending Corp. have been restricted effective this week from issuing Ginnie Mae bonds that are intermingled with loans from other lenders. The move follows an examination by Ginnie Mae, a government-owned corporation that guarantees about $2 trillion in mortgage-backed securities, including loans backed by the Department of Veterans Affairs.

Wall Street Journal, Apr. 4, 2018–Robyn A. Friedman (subscription)A recent uptick in mortgage interest rates is increasing costs for buyers already grappling with rising prices.

HousingWire, Apr. 3, 2018–Kelsey Ramirez”While credit scores play only a limited role in the underwriting process for loans acquired by the Enterprises, their impact on borrower eligibility and loan pricing warrants periodic review,” MBA President and CEO David Stevens wrote.

HousingWire, Apr. 3, 2018–Kelsey RamirezFreddie Mac announced its program, Targeted Affordable Housing Express, a new offering designed to provide faster, simpler and cheaper financing for the preservation of smaller, affordable rental properties.

HousingWire, Apr. 3, 2018–Nate ShultzThe author, with independent mortgage bank TMS, says without an FHA commissioner in place, it will be unlikely lenders will see changes to FHA policy or processes.

National Mortgage News, Apr. 3, 2018–Brian Collins (subscription)The dominant player in manufactured housing, Clayton Homes, is supporting HUD’s review of construction and safety standards on manufactured homes.

National Mortgage News, Apr. 3, 2018–Brad Finkelstein (subscription)Carrington Mortgage Services’ decision to offer subprime mortgage loans was a natural progression from its decision four years ago to concentrate on borrowers with credit scores under 640.

Reuters, Apr. 2, 2018–Patrick RuckerMick Mulvaney, the head of the Consumer Financial Protection Bureau, said the agency has the kind of power that should only rest with Congress. “The Bureau is far too powerful, with precious little oversight of its activities,” Mulvaney told Congress in a routine report.