Mortgage Daily, May 25, 2017MSRs are being offered on 2,316 Fannie Mae, Freddie Mac and Ginnie Mae loans with an aggregate unpaid principal balance of $439 million as of April 30.
Category: Top National News
CFPB Seen as Likely to Win Constitutional Case
American Banker, May 26, 2017–Kate Berry (subscription)A federal appeals court appears to be leaning toward a ruling in favor of the Consumer Financial Protection Bureau, with several judges arguing that a single director is more accountable to the president than a multimember commission.
Clock Running Out on Sandy Victims Seeking Mortgage Help
Asbury Park Press (N.J.), May 26, 2017–Jean Mikle, Russ ZimmerHomeowners have until 5 p.m. Wednesday to request a mortgage forbearance certification from the state, under a program that aims to give Sandy victims a measure of financial relief.
Maryland Governor Signs Bill to Fast-Track Vacant Home Foreclosures
National Mortgage News, May 26, 2017–Bonnie Sinnock (subscription)Maryland Gov. Larry Hogan (R) signed a bill that will put vacant home foreclosures on a faster track starting Oct. 1.
Homeowners Are Again Pocketing Cash as They Refinance Properties
Wall Street Journal, May 27, 2017–Christina Rexrode (subscription)Americans refinancing their mortgages are taking cash out in the process at levels not seen since the financial crisis.
U.S. Mortgages in Foreclosure Hit Decade-Low in First Quarter: MBA
Reuters, May 16, 2017–Richard LeongThe percentage of U.S. mortgages in the process of foreclosure at the end of the first quarter fell to its lowest level since the first quarter of 2007, the Mortgage Bankers Association said on Tuesday.
Hackers Reportedly Steal ‘Millions’ of Email Addresses from DocuSign
HousingWire, May 16, 2017–Brena SwansonDocuSign confirmed on Tuesday that a malicious third party had gained temporary access to a separate, non-core system to steal possibly more than 100 million email addresses.
You’ve Been Warned: CFPB Puts Realtors, Lenders on RESPA Violation Watch
HousingWire, May 16, 2017–Brena SwansonBetween the Consumer Financial Protection Bureau slapping Prospect Mortgage with a $3.5 million fine for violating RESPA earlier this year and beefing up its ongoing investigation into Zillow for possibly violating RESPA, the Realtor/Lender space is being sent a warning, says Daniella Casseres of Offit Kurman.
Serious Mortgage Delinquency Declines
Mortgage Daily, May 16, 2017First and second mortgages that are considered to be seriously delinquent made up a smaller share of overall loans last month, reported S&P and Experian.
25 Million Americans Could Find Mortgage Tax Break Useless Under Trump’s Plan
Bloomberg, May 16, 2017–Prashant Gopal, Joe LightPresident Donald Trump has proposed rewriting the tax code to raise the standard federal deduction to a level where about 25 million homeowners would no longer take advantage of the century-old mortgage interest tax deduction.