National Mortgage News, Feb. 10, 2017–Brian CollinsA regulatory proposal to allow banks and other mortgage lenders to accept private flood insurance on residential and commercial properties does not go far enough, according to industry groups.
Category: Top National News
Experts Say Reversal of Mortgage Insurance Reduction Could Impact First-Time Buyers
Meriden Record-Journal (Conn.), Feb. 13, 2017–Mary Ellen GodinThe premium reduction was made as former President Barack Obama left office but was reversed by the Trump administration so that the proposal’s impact on FHA’s mortgage insurance funds could be reviewed. But some real estate agents and mortgage originators say the fund is healthy enough to offer a reduction.
Ex-AIG CEO Greenberg Reaches $9.9M Settlment in NY Fraud Case
USA Today, Feb. 10, 2017–Kevin McCoyFormer AIG CEO and chairman Maurice “Hank” Greenberg agreed to a $9.9 million settlement Friday in a New York corporate fraud case, ending a nearly 12-year court battle by the prominent insurance industry executive.
Analysis: How Accurate is the CFPB Mortgage Complaint Data?
National Mortgage Professional, Feb. 10, 2017–Phil HallAn analysis of the new report would suggest that the CFPB is presenting an opaque view of how the mortgage industry deals with its customers.
Essent Closes Out 2016 with Improved Profits
National Mortgage News, Feb. 10, 2017–Jacob PassyMortgage insurer Essent Group reported higher net income for the fourth quarter, as premium growth offset a modest uptick in expenses.
It’s Confirmed: CFPB Doesn’t Need to Follow Trump’s Executive Order on Regulations
HousingWire, Feb. 13, 2017The Office of Information and Regulatory Affairs said independent regulatory agencies are not bound by President Trump’s Jan. 30 Executive Order.
Arch 4Q Income Includes $25M of UG Transaction Costs
National Mortgage News, Feb. 13, 2017–Brad FinkelsteinWhile Arch Capital had a slight increase in year-over-year net income to $64 million, the total was affected by $25 million of costs related to the purchase of United Guaranty.
The CMBS Wall of Maturities-Cracking the CMBS Code
National Real Estate Investor, Feb. 13, 2017–Debra JacksonThe commercial mortgage-backed securities resolution strategy that a lender will most likely accept is the one that, in its sole opinion, maximizes recovery to the bondholders.
Tips For Making Clean MSR Transfers
Servicing Management, Feb. 13, 2017–Pam ForresterAs high-yielding assets, mortgage servicing rights make for attractive investments, but also pose a challenge that can be best viewed as a game of risk and reward.
Mortgage Interest Tax Deductions May Get Extra Scrutiny This Year
Kiplinger, Feb. 8, 2017–Benway, CharlesA newly designed Form 1098 gives the IRS more information, so be prepared to defend the deduction.