CNBC, Feb. 5, 2017–Trent GilliesMore than 6 percent of home sales last year were “flips”, according to a new report from Trulia. The real estate data website defines a flip as the selling of a home at least twice within a year. That’s the highest number in a decade.
Category: Top National News
The Mortgage-Bond Whale That Everyone Is Suddenly Worried About
Bloomberg, Feb. 6, 2017–Liz McCormick; Matt ScullyAlmost a decade after it all began, the Federal Reserve is finally talking about unwinding its grand experiment in monetary policy. And when it happens, the knock-on effects in the bond market could pose a threat to the U.S. housing recovery.
Flow MSR Offering Could Exceed $2 Bil in Loans
Mortgage Daily, Feb. 3, 2017A concurrent flow servicing offering could work out to mortgage servicing rights on as much as $2.250 billion in government-sponsored enterprise loans.
Mortgage-Backed Security Market to Make a Comeback in 2017
HousingWire, Feb. 6, 2017–Kelsey RamirezDBRS said the persistently low interest rate environment rendered securitization uneconomical for many issuers. However, as interest rates begin to rise, the RMBS market is beginning to change.
Growth in Guild Mortgage Servicing, Staff
Mortgage Daily, Feb. 6, 2017Despite slowing loan production at Guild Mortgage Co., the company experienced growth in its servicing portfolio and its staffing.
The Treasury Should Revive the Snow Plan for Limiting GSE Debt Issuance
Cato Institute, Feb. 6, 2017–Mark A. CalabriaAuthor says Treasury Secretary designate Steven Mnuchin should strongly consider reviving a plan developed by his predecessor, John Snow. That plan would take advantage of the Treasury’s authority to place limits on Fannie and Freddie’s debt issuance to reduce those agencies’ indebtedness. The reduction can and should be done in a controlled manner that could be easily reversed if necessary.
What to Expect from the Debt Markets in 2017
National Real Estate Investor, Feb. 6, 2017–Elaine MisonzhnikAll types of capital providers-banks, insurance companies, conduit lenders and private equity funds-are actively looking for deals, and loan terms continue to be attractive, even if loan-to-value ratios have not moved much above 65 percent.
Warren’s Regulatory Beast is Under Fire–And Rightfully So
The Hill, Feb. 3, 2017–John AgostinelliSen. Elizabeth Warren, D-Mass., who led the establishment of the Consumer Financial Protection Bureau, has vowed to fight any changes to the regulator. David Stevens, CEO and president of the Mortgage Bankers Association said, “We are now in an environment in which the pendulum has clearly swung too far and created the most extraordinary regulatory framework that has ever existed in the nation.
CFPB’s Cordray Signals He Has No Intention of Resigning
National Mortgage News, Jan. 24, 2017–Berry, KateConsumer Financial Protection Bureau Director Richard Cordray sent his strongest signal to date on Tuesday that he has no intention of resigning ahead of his term expiring next year even if asked to by President Donald Trump.
Blackstone Wins Fannie’s Backing for Rental Home Debt
Wall Street Journal, Jan, 24, 2017–Dezember, RyanFannie Mae agreed to backstop up to $1 billion in debt from the country’s largest owner of single-family rental homes, the first time the government-sponsored entity has agreed to guarantee the debt of an institutional owner of single-family houses.