Category: Top National News

National Mortgage News, Aug. 28, 2017–Ian McKendry (subscription)The massive flooding in Texas from Hurricane Harvey is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but observers say a short-term reauthorization of the program before a Sept. 30 deadline is still the most likely scenario.

Times-Picayune (New Orleans), Aug. 28, 2017–Drew BroachHurricane Harvey’s ghastly flooding in the Houston area is sure to focus political attention on the National Flood Insurance Program, a controversial government benefit that makes home ownership affordable to many in south Louisiana. It’s $24 billion in debt, and unless Congress acts in the next 34 days, it will expire.

Reuters, Aug. 28, 2017U.S. emergency management officials said on Monday they were expediting federal resources to Texas to help with rescue efforts after Hurricane Harvey swamped coastal areas of the state and forced 30,000 people to seek refuge in temporary shelters.

National Mortgage News, Aug. 28, 2017–Elina Tarkazikis (subscription)The high loan-to-value refinance programs replacing the Home Affordable Refinance Program will require a change to the structure of Fannie Mae and Freddie Mac’s credit-risk transfer deals.

HousingWire, Aug. 28, 2017–Ben LaneOver the past few months, New Residential Investment significantly increased its mortgage servicing rights portfolio through deals with PHH and Ocwen Financial.

Wall Street Journal, Aug. 28, 2017–Christopher Whittal, Mike Bird (subscription)A decade ago, investors’ bad bets on collateralized debt obligations helped fuel the crisis. Billed as safe, they turned out to be anything but. Now, more investors are returning to CDOs-and so are concerns that excess is seeping into the aging bull market.

HousingWire, Aug. 21, 2017–Caroline BasileIn a recent LinkedIn post, Mortgage Bankers Association President and CEO David Stevens called on mortgage and real estate professionals to voice their opinions to the House of Representatives on the upcoming expiration of the National Flood Insurance Program.

Chicago Tribune, Aug. 18, 2017–Jeff OstrowskiPresident Donald Trump’s recent decision to pay off a $1.2 million loan on a home he owns in Palm Beach raises an intriguing question: why would a billionaire bother with a relatively tiny mortgage?

National Mortgage News, Aug. 18, 2017–Chris Masten (subscription)Mortgage holders could see their security interest wiped out if a borrower in Texas or Nevada gets a property tax loan where the lien has priority over the first mortgage.

Mortgage Daily, Aug. 18, 2017Freddie Mac’s forecast for mortgage refinances during the second half of this year has been increased, though it was at the expense of the second-quarter estimate.