UExpress, Nov. 10, 2017–Lew SichelmanMore than 1 million senior homeowners have now taken out reverse mortgages. There’s a good chance you might, too, once you reach age 62. But the question of how to use the money from the loan is just as important as the question of whether or not to get the loan in the first place.
Category: Top National News
Brookfield Property Makes $14.8 Billion Offer to Acquire Remainder of GGP
Wall Street Journal, Nov. 12, 2017–Dana Mattioli (subscription)Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn’t already own.
Connecticut Lone State to See Improvement in Mortgage ‘Defects’
CTPost (Conn.), Oct. 31, 2017–Alexander SouleIn September, Connecticut was the lone state in the nation to see a decline in borrowers misrepresenting facts on mortgage loan applications, according to First American Financial Corp.
Freddie Mac Expects Hurricane Losses, But Still Reports $4.7B Profit
National Mortgage News, Oct. 31, 2017–Brian Collins (subscription)A private-label securities settlement, portfolio asset sales and greater interest among smaller lenders helped Freddie Mac compensate for potential losses stemming from the catastrophic hurricane season, the mortgage giant said Tuesday.
Guild’s Servicing Grows, YTD Lending Record
Mortgage Daily, Oct. 31, 2017Guild Mortgage Co. reported an expanded servicing portfolio and record year-to-date originations in the third quarter.
Ocwen Switches Servicing Systems Per Consent Orders
Mortgage Daily, Nov. 1, 2017Ocwen Financial Corp.’s residential loan servicing subsidiary is changing its mortgage servicing system as was required by recent orders with several states.
Trump Signs Resolution Killing CFPB Arbitration Rule
National Mortgage News, Nov. 1, 2017–John Heltman (subscription)President Trump has signed the congressional measure invalidating the Consumer Financial Protection Bureau’s arbitration rule, killing the regulation that was unpopular with banks and other financial institutions.
Fannie, Freddie Reveal One Place Being Neglected by New Mortgage Tech
HousingWire, Nov. 1, 2017–Kelsey RamirezThe mortgage industry is ripe for disruption, said Fannie Mae Executive Vice President for Single-Family Business Andrew Bon Salle, referring to the need for new technology updates.
Storms Drive Loan Application Defect Rise in Texas and Florida
National Mortgage News, Nov. 1, 2017–Brad Finkelstein (subscription)Hurricanes Harvey and Irma were responsible for an increase in loan application defects during September in Texas and Florida, according to First American Financial Corp.
Mark Calabria: Trump Administration ‘Committed’ to Ending Conservatorship
HousingWire, Nov. 1, 2017–Kelsey RamirezDuring a wide-ranging discussion about the government’s role in housing, Vice President Mike Pence’s chief economist Mark Calabria revealed Wednesday that the Trump administration is “committed” to ending the conservatorship of Fannie Mae and Freddie Mac.