National Mortgage News, Mar. 13, 2017–Brian Collins (subscription)Banks are stepping up their efforts to win a key exception to the Consumer Financial Protection Bureau’s Qualified Mortgage rule.
Category: Top National News
Fund Investors Load Up on Property Debt
Wall Street Journal, Mar. 14, 2017–Peter Grant (subscription)Wary of a commercial real-estate rally losing steam, they decide it’s less riskier to be a lender than a buyer.
HSBC Fufills Consumer Relief Obligation under National Mortgage Settlement
HousingWire, Mar. 14, 2017–Brena SwansonHSBC is officially finished with its consumer relief requirement under the National Mortgage Settlement, providing more than $371 million in consumer relief, according to the latest update on the company from Joseph Smith, monitor of the NMS.
Non-Bank Issuer Growth Strains Ginnie Resources
Mortgage Daily, Mar. 13, 2017A watchdog report indicates that Ginnie Mae resources are being strained by the increase in non-bank issuers.
Wells Fargo’s 10-year Goal: $60B in Loans to Black Homeowners
National Mortgage News, Feb. 28, 2017–Andy Peters (subscription)Wells Fargo said it plans to hire scores of minority salespeople, step up lobbying for policies to boost homeownership and form community partnerships to accelerate mortgage lending to black consumers.
Radian: Here’s Where our Federal Mortgage Insurance Competition is Growing
HousingWire, Feb. 28, 2017–Jacob GaffneyIn a 10-K filing with the Securities and Exchange Commission yesterday, Radian reports that its federal mortgage insurance competition is growing.
Massive Single-Family Rental Merger: Tricon Capital to Acquire Silver Bay Realty Trust for $1.4 Billion
HousingWire, Feb. 28, 2017–Ben LaneIn a deal that will shake up the single-family rental industry, Tricon Capital Group announced this week that it plans to acquire Silver Bay Realty Trust in a $1.4 billion deal that will create one of the country’s largest operators of single-family rental homes.
No Change to Mortgage Interest Deduction in Trump Tax Plan: Mnuchin
Reuters, Mar. 1, 2017–Eric BeechU.S. Treasury Secretary Steven Mnuchin said on Wednesday the Trump administration’s tax reform plan will not change the deductibility of mortgage interest and charitable contributions.
Vote on GOP Dodd-Frank Reform Bill Likely Delayed Until Summer
National Mortgage News, Mar. 1, 2017–Ian McKendry (subscription)A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally anticipated due to limited floor time and other legislative priorities such as health care reform likely to take precedent.
Why Lessons from Wingspan’s Demise Still Matter Today
National Mortgage News, Mar. 1, 2017–Bonnie Sinnock (subscription)It’s been almost two years since Dallas-based Wingspan declared bankruptcy and the case has yet to be fully resolved. Now, with interest rates and home prices on the rise, the market is shifting yet again. What could be fixed at Wingspan–and what couldn’t–remain good object lessons about the opportunities and risks that surface when economic cycles turn.