The Fiscal Times, Dec. 16, 2016–Scotti, Ciro
A tax-reform proposal by House Republicans that would make the mortgage-interest deduction moot for most Americans is starting to set off alarm bells across the housing, lending and real estate industries.
National Mortgage News, Dec. 16, 2016–Passy, Jacob
PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.
Wall Street Journal, Dec. 16, 2016–Taylor, Candace
Buyer Craig Ramsey said he paid a ‘very reasonable’ $13 million for the unit in the San Francisco building, which has been beset by reports that it is sinking and tilting.
CNBC, Dec. 19, 2016–Olick, Diana
ARMs are still around, and they can be the right product for a lot of borrowers. They can, in fact, be very low risk.
DS News, Dec. 19, 2016–Baer, Kendall
The Urban Institute December Housing Chartbook brought some welcome news for mortgage delinquency and foreclosure rates.
National Mortgage News, Dec. 19, 2016–Kellard, Joseph
Two former executives of the failed GulfSouth Private Bank in Destin, Fla., and another man have been indicted on federal charges of defrauding the Troubled Asset Relief Program of $7.5 million.
SFGate, Dec. 19, 2016–Egelko, Bob
Bay Area lawmakers are proposing to raise $300 million for low-cost housing in California by eliminating the state tax deduction for mortgage interest on second homes, a proposal that will test the strength of Democrats’ newly won two-thirds legislative majority.
National Mortgage News, Dec. 16, 2016–Collins, Brian
According to sources familiar with the situation, the Trump team is weighing Edward Brady, an Illinois home builder, and Debra Still, president and chief executive of Pulte Mortgage and a former chairman of the Mortgage Bankers Association, as FHA commissioner.
Mortgage Daily, Dec. 13, 2016
The amount of time it takes to liquidate a securitized defaulted mortgage appears to have peaked, and the timeline is starting to decline.
Roll Call, Dec. 6, 2016–Ota, Alan K.
Homebuilders and lenders are preparing to defend the mortgage interest deduction as the incoming Trump administration and Congress weigh potential adjustments to one of the most popular tax sweeteners. David Stevens, president of the 2,400-member Mortgage Bankers Association, said in an interview that his group has serious concerns about any potential changes, including any attempt to lower the loan principal cap.
