HousingWire, Aug. 16, 2017–Kelsey RamirezMortgage delinquencies are continuing to fall, hitting a new low in the second quarter, a report from TransUnion–one of the three largest credit-reporting agencies in the U.S.–showed.
Category: Top National News
Mortgage Lender Loses Appeal in MA Foreclosure Case
Mortgage Daily, Aug. 16, 2017–Thomas O’Neill; Melissa Bruynell ManesseThe Massachusetts Supreme Judicial Court held that its ruling in Pinti v. Emigrant Mortgage Co.”applies in any case where the issue was timely and fairly asserted in the trial court or on appeal before July 17, 2015.”
WSJ’s Daily Shot: Are US Homes Overvalued?
Wall Street Journal, Aug. 17, 2017–Lev BorodovskyBased on the disposable income per capita (or per employee) metric, U.S. home prices are roughly in line with historical averages. But Other measures suggest that homes are already overvalued.
U.S. Mortgages Outstanding Grow, HELOCs Shrink
Mortgage Daily, Aug. 15, 2017On a quarterly basis, the nation’s book of mortgages expanded, though home-secured credit lines contracted. Mortgage delinquency improved.
Second-Mortgage Default Rate Gets a Hair Higher
National Mortgage News, Aug. 15, 2017 (subscription)Both first- and second-lien mortgage default rates last month were higher than in June, and second-lien defaults also edged up from where they were a year ago.
S&P/Experian: Mortgage Default Rate at Lowest Level in a Decade
HousingWire, Aug. 15, 2017–Brena SwansonDespite a slight increase in July, the default rate for first mortgage loans still sits at its lowest point in the last 10 years, according to the latest S&P/Experian Consumer Credit Default Indices.
Anchors Away! The Good News About Big-Box Closings
Commercial Property Executive, Aug. 15, 2017–Daniel HalprinThe departure of a department store or big-box retailer may actually represent an opportunity for landlords.
Deadline Looms on Flood Insurance Program
Scotsman Guide, Aug. 21, 2017–Victor WhitmanThe nation’s largest mortgage banking trade group, the Mortgage Bankers Association, recently urged its members to reach out to representatives in support of bills that would extend the program.
Mr. Cooper Launching Mortgage-Linked Credit Card
HousingWire, Aug. 21, 2017–Ben LaneMr. Cooper, the nonbank that officially left the name Nationstar behind on Monday, is already the most unique name in the mortgage business. When using the Mr. Cooper Home Rewards credit card, customers can earn cash back that will be applied to the principal balance on their mortgage.
Fannie to Allow Some Appraisal-Less Transactions
Mortgage Daily, Aug. 21, 2017Like its secondary cousin, Fannie Mae will begin allowing some home-purchase financing loans without appraisals.