Mortgage Daily, Apr. 12, 2017Monthly loan performance significantly improved at the Federal Housing Administration. Endorsements, meanwhile, sank–though they could bounce back.
Category: Top National News
Mortgage Banking Profits Increased in 2016
Mortgage News Daily, Apr. 13, 2017–Jann SwansonDespite a terrible fourth quarter, independent mortgage banks and mortgage subsidiaries of chartered banks managed to have a slightly more profitable year in 2016 than they did in 2015, the Mortgage Bankers Association said.
Foreclosure Activity is at the Lowest Level in Over a Decade
National Mortgage News, Apr. 13, 2017–Brad Finkelstein (subscription)First-quarter foreclosure activity was down 19% from the same period last year to the lowest level since the third quarter of 2006, said ATTOM Data Solutions.
These Are the States Where Mortgage Debt Is Rising Fastest
Palm Beach Post (Fla.), Apr. 14, 2017–Bob SullivanMortgage debt is rising fast. Nationwide, the average balance owed on a mortgage is $196,014, up 2.5% from the year prior and 6.4% from nine years ago, said Experian.
On the House: Tax Break for Mortgage Interest Losing Support
Columbus (Ohio) Dispatch, Apr. 16, 2017–Jim WeikerWith President Donald Trump’s pledge for comprehensive tax reform, voices from across the political spectrum are saying it’s time to examine the mortgage interest deduction.
Fed Puts Together Plan to Unwind Securities Portfolio
Wall Street Journal, Apr. 16, 2017–Nick Timiraos (subscription)The Federal Reserve is moving quickly to fill in the details of how it will wind down its securities holdings in the years ahead, a process that could start this year and become the next big challenge for investors grown accustomed to easy money from the world’s most important central bank.
Cash-Out Refinancings on the Rise, Just Like in 2008
Washington Post, Apr. 14, 2017–Kenneth R. HarneyThey’re either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and contributed to the severity of the crash, are on the rise again.
Over $1.6 Billion in GSE Loans Auctioned Off
Mortgage Daily, Apr. 14, 2017An investment banking firm has won its bid to acquire more than $1.6 billion in reperforming government-sponsored enterprise mortgages.
Oops! What if Flood Insurance Lapses?
Mortgage Compliance Magazine, Apr. 17, 2017No matter how or why lenders have required flood insurance on a property, if the flood insurance lapses during the term of the covered loan, it’s a problem.
CFPB Sues Ohio Law Firm for Illegal Debt Collection Practices
National Mortgage News, Apr. 17, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Monday against Weltman, Weinberg & Reis for allegedly engaging in illegal debt collection practices after the firm said it refused to agree to a settlement.