National Mortgage News, Sept. 26, 2017–Kate Berry, Rob Blackwell (subscription)Sen. Bob Corker, R-Tenn., a key voice in the debate over housing finance reform and one of the Senate Banking Committee’s most influential members, announced Tuesday that he will not seek re-election in 2018.
Category: Top National News
New Post-Crisis Low for Freddie’s Delinquency
Mortgage Daily, Sept. 26, 2017Freddie Mac’s book of business grew from a month earlier, when it stood at $2.0439 trillion. It was also up from a year earlier, when it was $1.9795 trillion.
Lenders Host Mortgage Assistance Events for Homeowners After Harvey
Houston Chronicle, Sept. 26, 2017–Katherine FeserHomeowners whose homes were damaged or destroyed by Hurricane Harvey with mortgage loans insured by the Federal Housing Administration are invited to learn about their options and resources at free mortgage assistance events held this week and next.
Commercial Debt Pushes Above $3 Trillion
Scotsman Guide, Sept. 27, 2017–Victor WhitmanOverall commercial and multifamily debt rose to $3.06 trillion at the end of the second quarter as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association.
Homeowner Tax Relief Looks Vulnerable as Industry Breaks Ranks
Politico, Sept. 27, 2017–Lorraine WoellertThe National Association of Home Builders split with industry allies to endorse a White House plan that reduces tax breaks for homeowners, increasing the vulnerability of a write-off that was once considered untouchable. David Stevens, president and chief executive officer of the Mortgage Bankers Association, said he was waiting for more details on the proposal.
Ginnie Chief Vows Tougher Scrutiny of Issuers after IG’s Criticism
National Mortgage News, Sept. 27, 2017–Bonnie Sinnock (subscription)Ginnie Mae pledged to vet issuers more thoroughly after a government watchdog criticized its exposure to risks posed by nonbanks.
Retail Stores Made Elmira, N.Y., an Unlikely Success–Now They’re Gone
Wall Street Journal, Sept. 27, 2017–Valerie Bauerlein (subscription)The city and its surrounding county, famed for its trail-blazing mall, is more exposed to 2017’s brick-and-mortar carnage than almost anywhere in the U.S.
Commercial, Multifamily Mortgage Debt Rises to $3.6 Trillion in U.S.
World Property Journal, Sept. 28, 2017–Michael GerrityAccording to the Mortgage Bankers Association’s Commercial/Multifamily Mortgage Debt Outstanding Report, total U.S. commercial and multifamily mortgage debt outstanding rose to $3.06 trillion at the end of the second quarter, as three of the four major investor groups increased their holdings.
Cohn: ‘People Don’t Buy Homes Because of the Mortgage Deduction’
The Hill, Sept 28, 2017–Naomi JagodaWhite House National Economic Council Director Gary Cohn on Thursday pushed back against criticism that Republicans’ tax plan could hurt the real-estate market, saying, “People don’t buy homes because of the mortgage deduction.”
Fannie Mae and Freddie Mac and the Need for Reform
American Action Forum, Sept. 28, 2017–Meghan MilloyAs Fannie and Freddie move toward zero retained capital and a heightened possibility of another draw on the Treasury, it is more important than ever that real, substantive reforms be made to the GSEs.