Category: Top National News

Mortgage Daily, Jan. 18, 2017Mortgage servicing rights are on the market for more than $4 billion in residential loans that are backed by Freddie Mac.

Wall Street Journal, Jan. 19, 2017–Andriotis, AnnamariaBonds backed by certain risky single-family mortgages topped $1 trillion for the first time in November, crossing that threshold amid rising warnings for one corner of the housing market.

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.