National Mortgage News, Jan. 25, 2018–Ian McKendry (subscription)In the current political environment, the idea that a dozen senators from the minority would join Republicans to support a limited bill to ease certain Dodd-Frank Act restrictions seems unusual.
Category: Top National News
Backers of Senate GSE Plan Reject Claims That It’s Too Conservative
National Mortgage News, Jan. 24, 2018–Ian McKendry (subscription)Supporters of an unreleased Senate bill to revamp the housing finance system are fighting back against suggestions that the latest revision has become more conservative. David Stevens, CMB, President and CEO of the Mortgage Bankers Association, said the plan gaining consensus in the Senate is similar to the housing finance proposal being developed by MBA.
CFPB Seeks Comment on How it Investigates Firms
National Mortgage News, Jan. 24, 2018–Kate Berry (subscription)The Consumer Financial Protection Bureau is seeking comment on its process for investigating companies that face possible enforcement actions as part of a comprehensive review of the agency.
New Tax Laws Likely to Increase High Net Worth Investment in Real Estate
National Real Estate Investor, Jan. 24, 2018–John EganFor high-net-worth investors in commercial real estate, the federal tax overhaul is practically a financial home run.
Toys R Us to Close 180 Stores Across the U.S.
CNBC, Jan. 24, 2018–Lauren ThomasToys R Us is planning to shutter roughly 180 stores across the country, or about one-fifth of its U.S. store fleet, in a bid to restructure the company and emerge from bankruptcy protection.
Hurricanes Blamed for New Spike in Mortgage Delinquencies
The impact of Hurricanes Harvey and Irma continue to bedevil the housing market, as Black Knight determined the hurricane-related fallout was a primary factor in having an additional 60,000 mortgages becoming 90 days delinquent last month.
Mortgage Delinquency at 2-Year High
Mortgage Daily, Jan. 23, 2018Thirty-day mortgage delinquency soared to a two-year high, while serious delinquency climbed to a 19-month high. But foreclosure starts were the fewest since the recession.
Sounding the Alarm: Mortgage Wire Fraud is a Much Bigger Threat Than You Realize
HousingWire, Jan. 23, 2018–Joseph MurinThe speed at which these scams are evolving, and the lengths scammers are willing to go to in order to fool us are at once impressive and terrifying. The latest iteration of wire fraud is one that will take an entire industry to stamp out.
This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again
Bloomberg, Jan. 22, 2018–Prashant GopalHouse prices are through the roof and builders’ shares are soaring. When real estate investors get this confident, money manager James Stack gets nervous.
HMDA Exemption Bill Passes the House
National Mortgage Professional, Jan. 22, 2018–Phil HallThe House voted 243-184 to pass the Home Mortgage Disclosure Adjustment Act (HR 2954), which is designed to eliminate compliance regulations imposed on small financial institutions by the Consumer Financial Protection Bureau.