Mortgage Daily, Sept. 15, 2017Freddie Mac is now allowing unlicensed and trainee appraisers to perform and sign an appraisal report in accordance with state law. They can also perform a completion report as long as a supervisory appraiser signs it.
Category: Top National News
One House, 22 Floods: Repeated Claims Drain Federal Insurance Program
Wall Street Journal, Sept. 15, 2017–Ruth Simon (subscription)Brian Harmon had just finished spending over $300,000 to fix his home in Kingwood, Texas, when Hurricane Harvey sent floodwaters “completely over the roof.” It has flooded 22 times since 1979, making it one of the most flood-damaged properties in the country.
The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
Wall Street Journal, Sept. 18, 2017–Nick Timiraos (subscription)The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support–and it wants to be as boring as possible.
Equifax, Wells Fargo Fiascos Prove Housing Needs Immediate Reform
HousingWire, Sept. 18, 2017–Jacob GaffneyHousingWire Editor in Chief says latest issues must spur Congress to take action on a number of housing finance fronts.
CFPB Settles With Owners of Wall Street’s Worst Student Debt
Bloomberg, Sept. 18, 2017–Shahien NasiripourThe Consumer Financial Protection Bureau had accused the National Collegiate Student Loan Trusts of illegally collecting from thousands of distressed borrowers using faulty paperwork, back-dated documents and other deceptive or unfair means.
Affordability in Question: The National Flood Insurance Program Needs $1.4 Billion More to Function
HousingWire, Sept. 5, 2017–Brena SwansonAs the expiration date of the National Flood Insurance Program draws nearer, the Congressional Budget Office, a nonpartisan analysis for the U.S. Congress, calculated that the program has an expected one-year shortfall of $1.4 billion.
Compliance Services for HMDA, ATR, Day 1 Certainty
Mortgage Daily, Sept. 5, 2017–Sam GarciaNew and upgraded offerings recently unveiled by service providers promise to help lenders comply with the Home Mortgage Disclosure Act, the Ability to Repay rule and Fannie Mae’s Day 1 Certainty initiative.
Mortgage-Backed Securities Market Heats Up
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.
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.