The Hill, Jan. 9, 2017–Needham, Vicki
HUD Secretary Julián Castro said the FHA will reduce the premiums for most borrowers by a quarter of a percent, dropping them to 0.60 from 0.85 for most new mortgages with a closing date on or after Jan. 27. MBA President and CEO David Stevens said the reduction is a good move but more work needs to be done to improve the FHA program.
Mortgage Daily, Jan. 9, 2017
Private mortgage insurance companies are annoyed at the Federal Housing Administration’s decision to lower mortgage insurance premiums.
HousingWire, Jan. 9, 2017–Swanson, Brena
The Office of the Comptroller of the Currency terminated its mortgage servicing-related order against HSBC Bank USA, lifting restrictions placed on the bank over its failure to comply with requirements of the Independent Foreclosure Review.
HousingWire, Jan. 9, 2017–Swanson, Brena
The controversial position Consumer Financial Protection Bureau Director Richard Cordray sits in is only intensifying as government officials push to have him fired and policy groups urge consumers to defend him.
HousingWire, Jan. 9, 2017–Lane, Ben
In addition to unveiling new legislation that would grant the New York Department of Financial Services the authority to ban individuals from working in the financial services industry, New York Gov. Andrew Cuomo also announced on Monday a series of new laws that would add financial protections for the state’s senior citizens.
Commercial Real Estate Direct, Jan 9, 2017–Fink, Tom
The commercial mortgage-backed securities market appeared to recover in 2015 and 2016, but new-issue bond spreads, which determine prices, continued to fluctuate.
Mortgage Daily, Jan. 9, 2017
Government funds used to pay for the Home Affordable Modification Program have reached nearly $23 billion as the program neared its sunset.
National Mortgage News, Dec. 22, 2016-Berry, Kate
Opposition is lining up against the Consumer Financial Protection Bureau’s arbitration plan. A Republican-controlled Congress is expected to overturn a final rule even as industry groups file lawsuits to stop it from going into effect.
National Mortgage News, Dec. 28, 2016–Stevens, David
MBA President and CEO says the real risk is the uncertainty of continued, long-term conservatorship. Congressional reform before recapitalization is the proper path forward.
Politico, Dec. 31, 2016–Woellert, Lorraine
Comments from incoming administration officials spark a scramble to save the mortgage interest deduction.
