National Real Estate Investor, Aug. 23, 2017–Ely RazinPension funds and insurance companies were significant players in Boston’s commercial real estate market in the first half of the year.
Category: Top National News
More High-End Deals Targeted by Revised Anti-Fraud Reporting Rule
National Mortgage News, Aug. 23, 2017–Brad Finkelstein (subscription)Reporting requirements for title insurers and agents were expanded to cover more types of high-end real estate transactions, the Financial Crimes Enforcement Network said.
American Homeowners Are Making Headway on Mortgage Debt, Report Finds
Washington Post, Aug. 23, 2017–Kenneth Harney ATTOM Data Solutions found that 34 percent of all American homeowners have 100 percent equity in their properties–they have either paid off their entire mortgage debt or they never had a mortgage.
Mortgages: Too Much Risk?
Mortgage Orb, Aug. 23, 2017–Peter G. MillerThere’s constant pressure in the mortgage marketplace to make financing quicker, easier and more broadly available. After all, with reduced lending requirements, we did sell more than 7 million existing homes in 2005, which was about 1.5 million more units than we expect to market this year. Surely it would make sense to ease credit standards now to pump up home sales, right?
Americans Haven’t Been This Good At Paying Their Mortgages Since 2000
HousingWire, Aug. 24, 2017–Ben LaneA new report from the Mortgage Bankers Association shows that the delinquency rate for mortgages on one-to-four-unit residential properties fell to a seasonally adjusted rate of 4.24% of all loans at the end of the second quarter.
CFPB Gives Small Banks, CUs a Break on HMDA Reporting
National Mortgage News, Aug. 24, 2017–Brian Collins (subscription)Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs in the preceding year, the bureau said Thursday.
American Pacific Mortgage Sues Insurer After Hacker Stole Funds from Lender
HousingWire, Aug. 24, 2017–Ben LaneAmerican Pacific Mortgage filed a lawsuit in federal court this week against Aspen Specialty Insurance Company, claiming that the insurance company is refusing to cover a claim filed after a hacker impersonated the mortgage company’s former CEO and stole more than $75,000 from the company.
Goldman and Pimco Are Loading Up on Mortgage Bonds
Bloomberg, Aug. 24, 2017–Claire BostonPacific Investment Management Co., Goldman Sachs Asset Management, Columbia Threadneedle and others are snatching up bonds tied to subprime mortgages and other home loans made before the housing crisis, while selling speculative-grade company debt.
CFPB Warns About Dangers of Taking Out a Reverse Mortgage to Delay Social Security
HousingWire, Aug. 24, 2017–Ben LaneAccording to the CFPB, some number of “financial professionals” are “increasingly promoting” a strategy involving seniors taking out a reverse mortgage as a way to bridge the financial gap until they are able to claim their full Social Security benefits.
Foreclosures at 10-Year Low, Delinquency Up
Mortgage Daily, Aug. 24, 2017Single-family mortgages that were at least 30 days past due or in the foreclosure process numbered 2.384 million as of the end of July, said Black Knight Financial Services.