National Mortgage News, Mar. 21, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau handled 84,500 debt collection complaints in 2017 and consumers viewed or downloaded information 838,255 times from the agency’s web site last year on how to negotiate a settlement with a debt collector.
Category: Top National News
Look For Downward Pricing Of REITs
GlobeSt.com, Mar. 21, 2018–Betsy Kim The public market is saying something bad is going to happen to private real estate pricing.
Massive Title Insurance Merger: Fidelity National Buying Stewart for $1.2 Billion
HousingWire, Mar. 19, 2018–Ben LaneThe title insurance world is about to get a whole lot smaller, as Fidelity National Financial is set to buy Stewart Information Services in a massive $1.2 billion deal.
Why Reverse Mortgages are a Harder Sell Now
Fox Business, Mar. 19, 2018–Liz WestonEven before reverse mortgages became more expensive, the Consumer Financial Protection Bureau warned last year against another strategy that some financial advisers were promoting: using the loans to delay claiming Social Security.
Non-Performing GSE Portfolio Sells
Mortgage Daily, Mar. 19, 2018A Freddie Mac offering sold through an auction process had three residential pools with more than $300 million in non-performing mortgages.
As Storms Get Stronger, Building Codes Are Getting Weaker
Bloomberg, Mar. 19, 2018–Christopher FlavelleThe Insurance Institute for Business & Home Safety examined building policies in 18 Atlantic and Gulf Coast states and found that despite the increasing severity of natural disasters, many of those states have relaxed their approach to codes–or have yet to impose any whatsoever.
Few Homebuyers Balk at High Mortgage Rates
National Mortgage News, Mar. 16, 2018–Brad Finkelstein (subscription)Only a small percentage of borrowers are deterred by the higher rates seen this year, even with the additional cost making it tough for first-time buyers to find affordable properties, said Redfin.
M.I. Firms Warn About Freddie Pilot
Mortgage Daily, Mar. 16, 2018The nation’s mortgage insurance companies are warning about a new pilot program that enables Freddie Mac to bypass traditional mortgage insurance.
For Sale: A $2 Billion Tower From the ’60s
Bloomberg, Mar. 19, 2018–David M LevittLast year, Chinese conglomerate HNA bought 245 Park Ave., a late 1960s-era building that’s home to JPMorgan Chase & Co., paying one of the highest prices ever for a New York office property. Values have since dropped and HNA faces the challenge of selling a building that’s starting to lose some of its gold-plated tenants and in need of improvements that could cost its new owner more than $1 billion.
Banking Bill Clears Senate, Could Make Mortgages Easier to Get at Local Banks
CNBC, Mar. 15, 2018–Sarah O’BrienThe Senate passed a bill on Wednesday that aims to ease banking regulations, potentially making it easier for consumers to get a mortgage from a community bank or credit union.