HousingWire, Dec. 12, 2017–David StevensMBA President and CEO outlines the Association’s strategy for comprehensive secondary mortgage market reform.
Category: Top National News
Commercial Debt Hits $3.11 Trillion
Scotsman Guide, Dec. 12, 2017–Victor WhitmanCommercial mortgage debt rose across all major investor classes to $3.11 trillion in the third quarter, the Mortgage Bankers Association reported.
Tax Bill Scales Back Mortgage Interest Deduction
Associated Press, Dec. 12, 2017Congressional aides say negotiators have agreed to scale back the mortgage interest deduction, which would allow homeowners to deduct interest on the first $750,000 of a new mortgage.
With California Wildfires, Insurers’ Losses Keep Spiraling Higher
Wall Street Journal, Dec. 12, 2017–Nicole Friedman (subscription)Insurers and reinsurers are already on track for one of the largest ever industrywide losses from natural catastrophes.
PACE Lenders Downplay FHA’s Reversal on Lien Priority
National Mortgage News, Dec. 11, 2017–Glen Fest, Allison Bisbey (subscription)Many mortgage lenders oppose PACE, which creates a lien on a property senior to that of a first mortgage, and were loathe to take advantage policy.
First American Buying BofA Mortgage Lien Release Business
National Mortgage News, Dec. 11, 2017–Brad Finkelstein (subscription)Bank of America is exiting the mortgage lien release business by entering into an agreement to sell this unit to First American Financial Corp.
Another Shakeup at Walter Investment; Nonbank Names New CFO and COO
HousingWire, Dec. 11, 2017–Ben LaneWalter Investment announced recently that Gary Tillett, who serves as executive vice president and chief financial officer, plans to retire in 2018. Replacing Tillett will be that Jerry Lombardo, who most recently served as a managing director & treasurer of the consumer and community bank at JPMorgan Chase.
15-Month High for Ginnie’s HMBS Issuance
Mortgage Daily, Dec. 11, 2017Although overa1l issuance eased at Ginnie Mae, issuance of reverse mortgage securities was the highest it’s been in 15 months.
Movement Mortgage to Pay $1.1 Million for California Mortgage Servicing Violations
HousingWire, Dec. 11, 2017–Ben LaneCalifornia announced Monday it reached a $1.1 million settlement with Movement Mortgage to resolve allegations that the company serviced loans without a California state license and violated the state’s per diem interest rules.
Fannie, Freddie Stall Foreclosure Evictions for the Holidays
National Mortgage News, Dec. 11, 2017–Elina Tarkazikis (subscription)Fannie Mae and Freddie Mac will suspend the evictions of foreclosed single-family properties during the holiday season.