Category: Top National News

National Mortgage Professional, June 30, 2017–Phil HallSen. Mark Warner, D-Va., told a Mortgage Bankers Association conference last week that he and Sen. Bob Corker, R-Tenn., had found consensus on several issues, including developing a system that maintains the 30-year mortgage.

Bloomberg, June 30, 2017–Alastair Marsh, Tracy AllowayThe bank said it invoked its right as trustee to hold back funds to cover legal costs. The 20 transactions had a principal balance of $540 million and are among more than 2,000 deals involved in a lawsuit brought by bondholders.

HousingWire, June 30, 2017–Ben LaneThe settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide $400 million in consumer relief for New York residents affected by the company’s alleged actions.

Scotsman Guide, July 3, 2017–Victor WhitmanThe Mortgage Bankers Association envisions turning Fannie and Freddie into utilities and chartering other companies to compete against them. MBA President and CEO David Stevens said the trade group’s plan was developed with input from its small lenders, and their proposal protects them.

Wall Street Journal, July 5, 2017–Nick Timiraos (subscription)Federal Reserve officials have indicated there is a strong chance they will announce in September a decision to start shrinking the central bank’s portfolio of bonds and other assets, while putting off until December any further interest-rate increase.

Dow Jones Newswire, July 4, 2017–Esther FungThe delinquency rate for securitized commercial real-estate loans jumped 28 basis points to 5.75% in June from May, the biggest month-over-month increase since March 2012 and up sharply from the 4.6% recorded in June last year, according to real estate provider Trepp Inc.

Mortgage Daily, June 20, 2017Nearly $300 million in re-performing and moderately delinquent single-family mortgages have been sold with a securitization to follow.

National Real Estate Investor, June 20, 2017–Bendix AndersonFreddie Mac issued hundreds of millions of dollars in bonds secured by loans to affordable housing properties, upping the ante on its securitization programs.

Wall Street Journal, June 20, 2017–Richard Rubin (subscription)House Speaker Paul Ryan, R-Wis., expressed confidence Tuesday that Republicans can “fix this nation’s tax code, once and for all” this year despite a long row of hurdles in front of them.

Washington Examiner, June 21, 2017–Joseph LawlerAppearing at a meeting of the Mortgage Bankers Association Wednesday morning in downtown Washington, the conservative chairman of the House Financial Services Committee said his 2013 bill “still represents the best vehicle for reform.”