Category: Top National News

Wall Street Journal, Nov. 14, 2017–Peter Grant (subscription)The residential real estate industry might be panicking about the Republican-backed tax overhaul making its way through Congress, but many in the commercial real estate industry are delighted with what they see so far.

Mortgage Daily, Nov. 14, 2017As quarterly loan originations moved higher at the nation’s home lenders, the balance of outstanding mortgages was up and delinquency was down. Home-secured credit lines outstanding contracted.

Politico, Nov. 14, 2017–Zachary WarmbrodtHouse Republicans overcame bipartisan opposition Tuesday to pass a bill that would reauthorize and overhaul the National Flood Insurance Program, which has strained to pay out billions of dollars to policyholders after this year’s run of devastating hurricanes.

Mortgage Daily, Nov. 14, 2017–Jamin Neil; T. Robert FinlayChallenges to mortgage lenders and servicers’ right to foreclose based on the expiration of the statute of limitations are rapidly increasing in the Pacific Northwest and Southwest regions.

The Hill, Nov. 15, 2017–Sylvan LaneConsumer Financial Protection Burea Director Richard Cordray told his agency’s employees he will resign before the end of November.

Mortgage Daily, Nov. 15, 2017Following four straight years of improvement, the Mutual Mortgage Insurance Fund’s capital ratio deteriorated. No reduction in premiums is likely as reverse mortgages continue to be a problem.

New York Times, Nov. 16, 2017–Thomas Kaplan; Alan RappeportThe House passed a sweeping rewrite of the tax code on Thursday by 227-205, taking a significant leap forward as Republicans seek to enact $1.5 trillion in tax cuts for businesses and individuals and deliver the first major legislative achievement of President Trump’s tenure.

Mortgage Daily, Nov. 17, 2017Single-family loans that were at least 30 days late or in the foreclosure inventory accounted for 6.11 percent of all outstanding mortgages as of Sept. 30, the Mortgage Bankers Association reported.

National Mortgage Professional, Nov. 17, 2017–Phil HallThe Federal Housing Finance Agency is shifting its policy by enabling Fannie Mae and Freddie Mac to re-enter the Low Income Housing Tax Credit market as equity investors on a limited basis. (MBA mention)

National Mortgage News, Nov. 17, 2017–Ian McKendry (subscription)The White House and congressional GOP leaders are eyeing a tight window between tax reform passage and the 2018 midterms to pass housing finance reform. And with key policymakers readying their exit, the effort could be the most concerted push yet.