Category: Top National News

HousingWire, Jan. 30, 2017–Brena SwansonA freeze on a final rule of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, TRID, could become an unfortunate side effect of Trump’s executive order on Monday.

National Mortgage News, Jan. 17, 2017–Collins, Brian
HUD’s proposed guidance has stirred up a debate on elevation standards as flooding occurs more frequently and in more unexpected places. The higher elevation requirements could impact affordability and “may limit the number of newly constructed homes available to many first-time and low-to-moderate income borrowers,” wrote Thomas Kim and Steve O’Connor of the Mortgage Bankers Association in a Dec. 21 comment letter.

MarketWatch, Jan. 17, 2017–Goldstein, Steve   
The Justice Department on Tuesday finalized its settlement with Deutsche Bank over allegations the German institution misled residential mortgage-backed securities investors in 2006 and 2007.

HousingWire, Jan. 17, 2017–Swanson, Brena
Senate Democrats dubbed President-elect Donald Trump’s nominee to lead the Department of the Treasury, Steven Mnuchin, the “foreclosure king,” but while this makes a nice soundbite, it simply isn’t true, according to Movement Mortgage CEO Casey Crawford.

Wall Street Journal, Jan. 17, 2017–Fung, Esther; Smith, Jennifer
Vacant space in malls is being filled by stores used for pickup and returns of goods bought online, and by online merchants looking to reach new customers.

CNBC, Jan. 18, 2017–Olick, Diana
Total mortgage application volume was basically flat, rising 0.8 percent on a seasonally adjusted basis compared with the previous week, according to the Mortgage Bankers Association.

HousingWire, Jan. 18, 2017–Lane, BenIn a unanimous opinion handed down Wednesday, the Supreme Court limited Fannie Mae’s ability to transfer cases to federal court, ruling that the government-sponsored enterprise’s charter does not grant it the right to move all state cases to the federal level.

Bloomberg, Jan. 18, 2017–Dexheimer, Elizabeth; Mohsin, SalehaSteven Mnuchin, nominated by President-elect Donald Trump for Treasury secretary, defended his record as an owner of a mortgage-lender that was accused of unfair lending and foreclosure practices during the financial crisis.

Mortgage Daily, Jan. 18, 2017Mortgage servicing rights are on the market for more than $4 billion in residential loans that are backed by Freddie Mac.

Wall Street Journal, Jan. 19, 2017–Andriotis, AnnamariaBonds backed by certain risky single-family mortgages topped $1 trillion for the first time in November, crossing that threshold amid rising warnings for one corner of the housing market.