DSNews, Mar. 1, 2017–Aly J. YaleThe volume of mortgage-related complaints received by the Consumer Financial Protection Bureau is holding steady, according to the agency’s Monthly Complaint Report.
Category: Top National News
What to Do When a Home-Equity Line of Credit Comes Due
Wall Street Journal, Mar. 1, 2017–Robyn A. Friedman (subscription)Many homeowners took out home-equity lines of credit during the housing boom, when property values soared. Now the typical 10-year term on these loans is expiring, and many people will be surprised that their monthly payments are about to go up-some, substantially.
Agency MBS Issuance Sinks to 12-Month Low
Mortgage Daily, Mar. 1, 2017Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae was $94.316 billion in February. That turned out to be the slowest month for securitizations of agency home loans since February 2016.
United States Flips Sides, Supports PHH in Case Against CFPB
HousingWire, Mar. 6, 2017–Brena SwansonThe United States revealed last Friday that it now supports PHH in its landmark case against the Consumer Financial Protection Bureau, switching sides from its original stance back in December.
Once-Skittish Investors Warming Up to Ginnie Mae Servicing Rights
National Mortgage News, Mar. 6, 2017–Bonnie Sinnock (subscription)Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.
How Liquidity Promotes Opportunity, Yield and a Greater Public Good
National Real Estate Investor, Mar. 6, 2017–Gary BechtelThese are still worrisome times for many in real estate, and while traditional bank lenders remain constrained by the regulations enacted by Dodd-Frank and Basel III, alternative lenders in large part have been filling the void and providing the liquidity this industry needs to stay afloat.
Consumer Bankruptcies Up But Off from Year Prior
Mortgage Daily, Mar. 6, 2017Including commercial and non-commercial activity, there were 58,336 debtors who filed a new case with U.S. Bankruptcy Courts in February.
More Homeowners Cashing in on Their New Housing Wealth
CNBC, Mar. 3, 2017–Diana Olick Homeowners are opening their favorite piggy bank again–their homes.
GOP Switches Tactics in ‘War’ Against CFPB
National Mortgage News, Mar. 3, 2017–Kate Berry; Ian McKendry (subscription)Republicans have opened multiple fronts against the agency, undertaking separate efforts through obscure legislative processes to cut its funding and roll back past and future rules, while also considering a larger bill that would effectively gut the agency entirely.
CFPB Director Richard Cordray Speaks Out About His Controversial Role
HousingWire, Mar. 2, 2017–Brena Swanson”The independence of a consumer watchdog is very much worth fighting for,” Cordray told CNBC.