American Banker, June 21, 2017–Ian McKendry (subscription)”I think the stars may align–where you could actually see housing finance reform happen ahead of some of the Dodd-Frank reforms, because I think there is more consensus here,” Sen. Mark Warner, D-Va., said during a Mortgage Bankers Association conference this week.
Category: Top National News
Five Flood Insurance Bills Clear Financial Services Committee
National Mortgage News, June 21, 2017–Brian Collins (subscription)One bill (H.R. 2246) would allow commercial firms and small businesses to opt-out of buying policies from the National Flood Insurance Program.
Ditech Unloading Servicing on HELOCs
Mortgage Daily, June 21, 2017In all, the Fort Washington, Pa.-based firm is transferring servicing on 3,020 HELOCs that are part of three residential mortgage-backed securities.
No More Offshoring: Nationstar Moving All Customer Service Operations Back to U.S.
HousingWire, June 21, 2017–Ben LaneNationstar Mortgage announced Wednesday it is bringing its customer service operations back to the U.S. According to the company, the move is driven by its transition into becoming Mr. Cooper, which first began back in 2015.
Small Portfolio of Fannie Mae Loans Sold
Mortgage Daily, June 21, 2017The loan sale, which was initially marketed beginning on May 10, includes 123 mortgages that have a collective unpaid principal balance of $32 million.
Fewer Borrowers Late on their Loan Payments in May
National Mortgage News, June 22, 2017–Brad Finkelstein (subscription)Black Knight Financial Services reported 1.93 million properties where the borrower was at least 30 days late with their mortgage payment, down 145,000 from April.
9-Yr Low for Freddie’s Single-Family Delinquency
Mortgage Daily, June 22, 2017Residential loan delinquency again turned lower at Freddie Mac, this time to the lowest level in nearly a decade.
Mortgage Servicing, Staffing Expand at Caliber
Mortgage Daily, June 22, 2017Over at Caliber Home Loans Inc., staffing has expanded by more than 1,500 employees during the past 12 months.
Fed’s Stress Tests Bolster Case for Easing Bank Rules
Wall Street Journal, June 22, 2017–Ryan Tracy, Telis Demos (subscription)The largest U.S. banks survived a hypothetical “stress test” and could continue lending even during a deep recession, the Federal Reserve said, a strong report card that could bolster the industry’s case for cutting back regulation.
For Consumers, Less Debt but Lots of Bills
Wall Street Journal, June 23, 2017–Justin Lahart (subscription)Americans’ finances are in the best shape they have been in years. As a group, U.S. households’ debt-to-income and debt-to-asset ratios in the first quarter fell to their lowest levels since the early 2000s.