Category: Top National News

National Mortgage News, Nov. 20, 2017–Brad Finkelstein (subscription)The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial’s capability to service securitized mortgages, Fitch Ratings said.

National Mortgage Professional, Nov. 20, 2017–Phil HallLast year saw a 646 percent increase in foreclosures against seniors with federally insured reverse mortgages as compared to the previous seven years, according to HUD data received by a Freedom of Information Act request made by the California Reinvestment Coalition and Jacksonville Area Legal Aid.

HousingWire, Nov. 7, 2017–Brena SwansonAs the future of tax reform remains a hot-button issue, the Mortgage Bankers Association continues to stress the importance of the mortgage interest tax deduction to Congress.

Dallas Morning News, Nov. 7, 2017–Melissa RepkoBanking and financial services company Capital One Financial Corp. announced Tuesday that it will lay off about 950 people in Plano, Texas, as it exits the mortgage and home equity business and closes a call center.

National Mortgage News, Nov. 7, 2017–Brian Collins (subscription)The Federal Housing Administration’s financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.

National Mortgage News, Nov. 8, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Wednesday against Freedom Debt Relief, the nation’s largest debt-settlement services provider, and its co-CEO Andrew Housser for allegedly deceiving consumers.

HousingWire, Nov. 8, 2017–Brena SwansonAfter first revealing the news earlier this year, Zillow still hasn’t come to an agreement with the Consumer Financial Protection Bureau over possible violations of the Real Estate Settlement Procedures Act.

HousingWire, Nov. 8, 2017–Kelsey RamirezDuring the National Association of Realtors Conference, Beth Zorc, HUD acting general counsel and principal deputy general counsel, said HUD is “continuing to look at the issue and will have additional information to share later in November and will make its decision based on the health of FHA’s Mutual Mortgage Insurance Fund.”

Bloomberg, Nov. 8, 2017–Stephen MihmFrom its dubious beginnings a century ago, the mortgage interest deduction has shown a remarkable resilience, frustrating generations of idealistic reformers. If there’s a mindless zombie in the tax code, this is it: a purposeless tax break that just refuses to die, no matter how many opponents try to bury it.

Scotsman Guide, Nov. 13, 2017–Victor WhitmanIn a letter to leaders of the Senate Committee on Finance, MBA President David Stevens praised that the plan preserves the interest deduction with the current $1 million cap on mortgage debt. MBA has issues, though, with its proposal to eliminate deductions on local property taxes, and also removes the interest deduction on home equity lines of credit.