Wall Street Journal, Sept. 5, 2017–Peter Grant (subscription)Banks and other underwriters of commercial mortgage-backed securities are on track to issue more notes in September than any other month this year.
Category: Top National News
Real Estate Firm Says Malls Need a New Business Model
Wall Street Journal, Sept. 5, 2017–Esther Fung (subscription)Malls need to shift emphasis away from department stores and toward retailers that are less susceptible to competition from e-commerce, according to a report from real estate services firm CBRE Research.
Multifamily REITs Pour Money into New Development
National Real Estate Investor, Sept. 5, 2017–Bendix AndersonMultifamily real estate investment trusts keep building new apartments and the analysts who track the companies are getting worried.
How Ginnie Mae Will Aid Issuers Affected by Hurricane Harvey
National Mortgage News, Sept. 6, 2017–Bonnie Sinnock (subscription)Ginnie Mae is preparing to give servicing assistance to issuers affected by Hurricane Harvey if more than 5% of their portfolio is in a federal disaster area.
Non-QM Loans Pay Well, Though Higher Prepayments
Mortgage Daily, Sept. 6, 2017Origination and securitization of loans that don’t meet Qualified Mortgage requirements has been expanding, and performance is strong. But higher rates are leading to higher prepayments.
Buyers Sought for MSRs on $430 Mil in Agency Loans
Mortgage Daily, Sept. 6, 2017The offering involves MSRs on 1,888 Ginnie Mae single-family loans that have a collective unpaid principal balance of $424 million.
Equifax Hack Hits Credit Histories of Up to 143 Million Americans
Washington Post, Sept. 7, 2017–Craig Timberg, Elizabeth Dwoskin, Brian FungCredit reporting agency Equifax said Thursday that hackers gained access to sensitive personal data–Social Security numbers, birth dates and home addresses–for up to 143 million Americans, a major cybersecurity breach at a firm that serves as one of the three major clearinghouses for Americans’ credit histories.
House to Consider Bill to Change TRID Rules
HousingWire, Sept. 7, 2017–Ben LaneThe new bill is called the “TRID Improvement Act of 2017,” and has yet to be officially introduced into the House, but the bill was discussed on Capitol Hill on Thursday during a meeting of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.
Houston-Area Mortgages, Auto Loans Expected to Take Big Hits
National Mortgage News, Sept. 7, 2017–Kevin Wack (subscription)Lenders in Houston and other flood-ravaged parts of Texas are bracing for a wave of missed payments–particularly on auto loans and residential mortgages–as distressed borrowers use any available cash to get back on their feet.
Ocwen Fined $1 Million for Force-Placed Insurance Issues
HousingWire, Sept. 7, 2017–Ben LaneOcwen Financial will pay a fine of $1 million for running afoul of the terms of the National Mortgage Settlement by not properly refunding force-placed insurance premiums to certain borrowers during the first quarter.