HousingWire, Jan. 25, 2017–Swanson, BrenaThe implementation date of the Consumer Financial Protection Bureau’s final mortgage servicing rule lies in question after the Trump administration announced a freeze on federal regulations.
Category: Top National News
Why FHFA Is Seeking More Data on Chattel Loans
National Mortgage News, Jan. 25, 2017–Collins, BrianThe Federal Housing Finance Agency is seeking a significant amount of information from lenders that specialize in making chattel loans to manufactured homebuyers due to a lack of reliable data on the market.
Nonprime RMBS Issuance Expected to Accelerate
Mortgage Daily, Jan. 25, 2017Mortgage securitizations backed by nonprime loans are expected to see a substantial increase this year as lenders move away from prime refinances.
Senator Criticizes Fannie’s Spending on TX Office
Dallas Morning News, Jan. 25, 2017–Brown, SteveSen. Chuck Grassley, R-Iowa, said Fannie Mae’s planned regional headquarters in Plano, Texas are “$24.2 million in excessive costs.”
Alignment, Uncertainty Challenge GSE Single-Security Inititative
GoRion, Jan. 26, 2017–Wisniowski, Charles Fannie Mae and Freddie Mac have entered the New Year one “significant” step closer to their near half-decade old initiative to issue a common mortgage-backed security.
Freddie’s Book Tops $2 Tril, New Biz at 4-Yr High
Mortgage Daily, Jan. 26, 2017In addition to pushing its book of business past $2 trillion, Freddie Mac lifted secondary mortgage activity to a four-year high and cut delinquency to an eight-year low.
House Speaker Ryan Told Lawmakers Financial Deregulation a Top Priority
Wall Street Journal, Jan. 26, 2017–Tracy, Ryan; Witkowski, RachelHouse Speaker Paul Ryan, R-Wis., told Republican lawmakers at a retreat that legislation aimed at relieving the financial sector from regulations will be a top priority in 2017, according to congressional aides.
Pence, Hensarling: Dismantling Dodd-Frank Remains a High Priority
HousingWire, Jan. 26, 2017–Lane, BenBut executive orders are just the preamble to the big initiatives that Trump and the Republican majority in Congress are expected to push for shortly. Chief among those is the “dismantling” of the Dodd-Frank Act.
Urban Institute: Suspending the FHA Mortgage Insurance Premium Cut is a Good Idea
HousingWire, Jan. 26, 2017–Swanson, BrenaThe Urban Institute posted a blog on the recent HUD announcement, stating that not only is the suspension a good idea but it should continue until the FHA Mutual Mortgage Insurance Fund can build up more money.
Morningstar: Here’s the Impact of Rising Interest Rates on Mortgage-Backed Securities
HousingWire, Jan. 26, 2017–Lane, Ben Morningstar suggests that between the Fed’s decision to raise rates and the indication that more rate increases are to come, mortgage-backed securities prepayments will fall throughout 2017.