Category: Top National News

Mortgage Daily, July 28, 2017–Rachel G. Packer, Joy Harmon Sperling (Day Pitney LLP)A New Jersey appellate division found mortgages outlive life estate.

Mortgage Daily, July 31, 2017Mortgage servicing continued to expand at Quicken, growing from $251.0 billion as of March 31 and $215.0 billion from a year ago. During the three months ended June 30, Quicken closed $19.6 billion in residential loans.

National Mortgage News, July 31, 2017–Ian McKendry (subscription)After a grueling defeat for their health care bill last week, Senate Republicans are expected to turn to other priorities, including attempting to repeal the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses.

HousingWire, July 31, 2017–Ben LaneAccording to details provided by the bank, the $444 million offering is backed by 668 jumbo prime (75%) and high-balance conforming (25%) mortgages.

National Mortgage News, July 31, 2017–Thomas P. Vartanian (subscription)There can realistically be only muted hope that today’s Congress, nine years after the conservatorships started, will agree on a feasible strategy to unwind Fannie and Freddie and replace them with a viable alternative. Washington is too divided; the chances of a bipartisan bill are still in question.

HousingWire, July 27, 2017–Ben Lane, Brena SwansonFreddie Mac announced this week that it is changing the requirements to its low down mortgage program and will no longer allow lenders to contribute gifts or grants to reach the 3% down payment requirement.

National Mortgage News, July 18, 2017–Brian Collins (subscription)House appropriators are trying to put the brakes on the Property Assessed Clean Energy program, which finances energy upgrades on homes through Federal Housing Administration-backed loans.

National Mortgage Professional, July 18, 2017–Phil HallWhile many people are ready to tuck the housing crash into the history books, its residue is still being felt by Gen X homeowners with minimal equity gains, said Zillow.

Mortgage Daily, July 18, 2017More than $600 million in loans are behind an offering of Ginnie Mae mortgage servicing rights. Nearly half of the loans are secured by properties in Texas.

Mortgage Daily, July 18, 2017Retail loan originators generated 116,882 refinances of single-family loans that are owned or backed by Fannie Mae and Freddie Mac during May. That was the lowest number of GSE refinances since May 2014.