Category: Top National News

National Mortgage News, Jan. 19, 2017–Finkelstein, BradMGIC Investment Corp. reported net income of $107.5 million for the fourth quarter, an increase of nearly 5% over the $102.4 million earned in the same period of 2015.

Wall Street Journal, Jan. 19, 2017–Fung, Esther; Maher, KrisSears and Macy’s closings are a one-two punch for communities already battling retail flight and a changing economy.

Bloomberg, Jan. 20, 2017–Light, JoeHUD on Friday said the agency is canceling a reduction announced last week while President Barack Obama was still in office. The Federal Housing Administration had planned to cut its annual fee for most borrowers by a quarter of a percentage point to 0.60 percent, effective on Jan. 27.

National Mortgage Professional, Jan. 20, 2017–Hall, PhilThe battle over whether Richard Cordray should remain as director of the Consumer Financial Protection Bureau (CFPB) or whether he should be fired by the new Trump Administration has intensified, with Cordray’s supporters and detractors taking bold new steps to solidify their respective positions.

HousingWire, Jan. 20, 2017–Swanson, BrenaThe highs Fannie Mae’s and Freddie Mac’s stocks experienced toward the end last year didn’t stay long after Trump’s Treasury Secretary nominee Steven Mnuchin retreated from his original stance on privatizing the government-sponsored entities during his confirmation hearing.

Chicago Tribune, Jan. 23, 2017–Andrew KhouriOn Friday, the Trump administration suspended a pending rate cut to FHA mortgage insurance that the outgoing Obama administration announced just a week earlier.

Mortgage Daily, Jan. 23, 2017For the third month in a row, the nation’s mortgage bankers have reduced the volume of refinance production they expect to generate this year.

Mortgage Daily, Jan. 23, 2017–Sam GarciaAs he prepared to leave his post along with the rest of the Obama administration, the former president of Ginnie Mae talked about his wild ride over the past seven years.

Reuters, Jan. 23, 2017–Jonathan StempelA U.S. judge on Monday narrowed but refused to dismiss a lawsuit seeking to hold Deutsche Bank AG liable to investors, including dozens of portfolios from BlackRock Inc and Pacific Investment Management Co, for losses on poorly underwritten residential mortgage-backed securities.

National Mortgage News, Jan. 12, 2017–Jacob PassyThe foreclosure presale inventory rate fell year over year by 30% in December, signaling the most improvement of any year on record, according to Black Knight Financial Services.