National Mortgage News, Aug. 30, 2017–Lalita Clozel (subscription)As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.
Category: Top National News
What Do HUD’s Reverse Mortgage Changes Mean for FHA Mortgage Insurance Premiums?
HousingWire, Aug. 30, 2017–Brena SwansonMortgage insurance premium cuts and HECM both impact the FHA’s flagship fund, the Mutual Mortgage Insurance Fund. The fund insures mortgages made by the FHA on single-family homes and pays the lender if the borrower defaults.
Jump in Default Risk on New Mortgage Originations
Mortgage Daily, Aug. 30, 2017VantageScore reported risk of default on new quarterly mortgage originations turned significantly higher as production plunged, though seasonal factors played a role.
CMBS Delinquency Down 2nd Consecutive Month
Mortgage Daily, Aug. 30, 2017For the second month in a row, the performance of securitized commercial real estate loans improved. Industrial loans led the decline in late payments, said Trepp LLC.
Read This Before Getting a Reverse Mortgage
MarketWatch, Aug. 31, 2017–Jacob PassyHUD announced on Tuesday that it will makes changes to the reverse-mortgage program to reduce the risk the program presents to the government and taxpayers. “This is a statement that the program is important,” said David Stevens, president and CEO of the Mortgage Bankers Association. “For certain seniors, it’s their only option.”
CFPB Sets Loan Limits for High-Cost Mortgages
National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (subscription)The Home Ownership Equity Protection Act loan threshold rose slightly to $21,032, from $20,579. The adjusted points and fees dollar trigger for high-cost mortgages in 2018 will be $1,052, up from $1,029, according to a final rule filed in the Federal Register this week.
5 Ways Servicers are Helping Homeowners Affected by Harvey
National Mortgage News, Aug. 31, 2017–Elina Tarkazikis (free article)As Hurricane Harvey continues to wreak havoc in Texas and Louisiana, servicers and other mortgage industry resources stand at the ready to help displaced homeowners. (MBA mention)
Fannie’s Delinquency Drops to New Post-Crisis Low
Mortgage Daily, Sept. 1, 2017Serious delinquency at Fannie Mae fell to the lowest level in the past decade. New business maintained.
Senior Federal Home Loan Bank Execs Indicted
Mortgage Daily, Aug. 31, 2017Senior executives of the Federal Home Loan Bank of Dallas have been indicted for using funds from the organization to pay for personal expenses.
CMBS Delinquency Sinks, Industrial Leads Drop
Mortgage Daily, Sept. 1, 2017Past due payments on securitized commercial real estate loans turned lower as the wall of maturities subsided. The improvement was led by industrial loans, said Morningstar Credit Ratings LLC.