Category: Top National News

Bloomberg, Dec. 7, 2017–Joe Light, Prashant GopalThe $64 billion mortgage-interest deduction has long been touted as fuel for U.S. homeownership. Yet as the real estate industry fights the Republican tax plan that’s set to diminish its use, finding economic supporters of the perk is tough, even among affordable-housing advocates.

Reuters, Dec. 6, 2017–Sharon Bernstein, Howard SchneiderThousands of homeowners in Republican-leaning areas could be hit by the elimination or reduction of tax breaks for homeowners, a Reuters analysis of federal mortgage and tax data shows, potentially opening those districts to a Democratic challenge in the November 2018 mid-term elections.

Reuters, Dec. 6, 2017–Pete SchroederBank examiners can continue working inside the banks they supervise, Comptroller of the Currency Joseph Otting said on Wednesday, in a policy reversal for the U.S. banking regulator.

Mortgage Daily, Dec. 6, 2017Issuance of residential mortgage-backed securities filled with jumbo mortgages, nonprime loans and reverse mortgages is forecasted to rise next year, while credit standards are likely to ease, said Moody’s Investors Service.

National Mortgage News, Dec. 5, 2017–John Heltman (subscription)A Senate panel on Tuesday morning approved Federal Reserve Gov. Jerome Powell’s nomination to chair the Fed beginning early next year, putting President Trump’s pick one step closer to assuming one of the nation’s most important executive offices.

HousingWire, Dec. 5, 2017–Jacob GaffneyReducing the amount a homeowner, facing default, owes on their mortgage sounds like it would be a great idea to include in a mortgage modification. But it’s likely just a feel-good factor, according to newly released research from JPMorgan Chase Institute, a think tank arm of the bank.

Forbes, Dec. 5, 2017–Bobby MantagneTraditional mortgage funders may be put off by properties that require extensive remodeling or structural repairs, creating a growing market for private money lenders.

HousingWire, Dec. 5, 2017–Ben LaneRealPage, a provider of software and data analytics to the real estate industry, announced Tuesday that it completed its $300 million acquisition of Lease Rent Options and related assets from The Rainmaker Group.

Mortgage Daily, Dec. 5, 2017Nationstar Mortgage LLC, which now does business as Mr. Cooper, agreed to a more than $9 million settlement that resolves allegations it overcharged borrowers for interest and collected illegal fees.

Mortgage Daily, Dec. 5, 2017The banking subsidiary of CIT Group Inc. has agreed to settle claims by the servicing subsidiary of Ocwen Financial Corp. that it should have been reimbursed for servicing errors.