Mortgage Daily, Mar. 6, 2018The offering from HUD is for 650 notes that have an aggregate unpaid principal balance of $136 million.
Category: Top National News
Banks Want In on Tax Reform Plan to Spur Investment in Distressed Areas
National Mortgage News, Mar. 6, 2018–Brian Collins (subscription)In passing President Trump’s tax cut bill, Congress approved a new program that allows investors to defer paying taxes on capital gains if they invest in “Opportunity Zones.”
Radian Relaxes Mortgage Insurance Requirements
Mortgage Daily, Mar. 6, 2018Improvements to requirements at Radian Guaranty Inc. include lower mortgage insurance premiums and the insuring of three- and four-unit residential loans.
Over a Million Americans May Have Just Lost Their Shot at Refinancing
MarketWatch, Mar. 5, 2018–Andrea RiquierIndustry participants believe many Americans are rushing to get ahead of rates that are only expected to go higher from here. (MBA mention)
Majority of Homeowners Could See Their First Shift in Adjustable Mortgage Rates
Mortgage Professional America, Mar. 5, 2018–Francis MonfortMost homeowners with adjustable-rate mortgages could experience their first interest rate increase if the low-interest-rate environment ends, according to survey results released by HSBC.
113 Congressional Republicans Declare Support for Mick Mulvaney as CFPB Director
HousingWire, Mar. 5, 2018–Ben LaneThe lines of support are very clearly drawn in the battle over who should serve as interim director of the Consumer Financial Protection Bureau.
Competition May Force CMBS Issuers to Pursue Higher LTV Loans
National Mortgage News, Mar. 5, 2018–Bonnie Sinnock (subscription)”Many market participants believe that increased conduit leverage is required for the CMBS market to effectively compete for future commercial real estate loans and maintain CMBS conduit issuance at sustainable levels,” Fitch Ratings analysts wrote in a report.
Compliance Tech Addresses HMDA, TRID and QC
Mortgage Daily, Mar. 5, 2018–Sam GarciaMortgage service providers are helping home lenders with quality control and complying with the Home Mortgage Disclosure Act and the TILA-RESPA Integrated disclosures. One product is targeting California per-diem restrictions, while another addresses New York’s new security requirements.
Dodd-Frank Replacement Heads to Senate Vote
HousingWire, Mar. 2, 2018–Kelsey RamirezThe bill, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, contains policies which would roll back or eliminate key parts from the Dodd-Frank Act.
The CLO, a Financial Crisis Bogeyman, is Back
The Real Deal (N.Y.), Mar. 2, 2018–Konrad PutzierMention the term “collateralized debt obligation” and financial watchdogs immediately seize up. But now they are staging a comeback under a new name: collateralized loan obligation, or CLO.