Mortgage Daily, Dec. 2, 2016
Growing defaults from a wave of securitized commercial real estate loans that are maturing are likely to be exacerbated by the upcoming implementation of the risk retention rule.
Category: Top National News
Credit Risk Transfer–Front and Back End Execution. Why Does It Matter?
GoRion, Dec. 2, 2016–Schwartz, Faith
There is firm interest in this new and growing execution for risk transfer by investors who have confidence in the underwriting and servicing of mortgage loans through new and improved GSE standards.
Donald Trump Picks Ben Carson to Head Housing Agency
MortgageOrb, Dec. 5, 2016–Hoffman, Debbie; Roque, Rick
There is no room for getting comfortable quite yet, as the mortgage industry must focus on new reporting requirements under the Home Mortgage Disclosure Act–which has been dubbed “TRID’s Daughter” by one of the industry’s leading service providers.
Higher Loan Limits Could Mean Increased Mortgage Volume
National Mortgage News, Nov. 23, 2016–Passy, Jacob
Federal Housing Finance Agency’s choice to raise conforming loan limits in 2017 is being met with enthusiasm. “[The increase] reflects the reality that we are in an improving housing market driven by an improving economy,” said Mortgage Bankers Association President and CEO David Stevens, CMB.
Fannie & Freddie’s Mortgage Backing Capacity Increases
Nasdaq.com, Nov. 25, 2016
The Federal Housing Finance Agency announced that the maximum limit for the mortgage loans backed by Fannie Mae and Freddie Mac will be $424,100 for most of the U.S. in 2017.
DOJ Gives Up in Fight Over Massive Bank of America, Countrywide ‘Hustle’ Fine
HousingWire, Nov. 23, 2016–Lane, Ben
Billion-dollar Settlement Now Dead.
Consumer Protection Bureau Chief Braces for a Reckoning
New York Times, Nov. 24, 2016–Cowley, Stacy
Mild-mannered, lawyerly and with a genius for trivia, Richard Cordray is not the sort of guy you picture at the center of Washington’s bitter partisan wars over regulation and consumer safeguards.
Congress Could Play Grinch this Christmas for Homeowners
Washington Post Writers Group, Nov. 26, 2016–Harney, Kenneth R.
Republicans controlling the tax-writing committees in the House and Senate say they have no plans to extend expiring tax code provisions such as mortgage debt forgiveness for financially troubled owners, mortgage insurance write-offs used by moderate-income first-time buyers, and deductions for purchases of energy-saving windows, insulation and other improvements. All three benefits terminate Dec. 31.
How to Kill the Volcker Rule? Don’t Enforce It
Wall Street Journal, nov. 28, 2016–Tracy, Ryan; Carney, John
Big banks hoping a Trump administration will defang one of Dodd-Frank’s most-controversial pieces.
Perils of Climate Change Could Swamp Coastal Real Estate
New York Times, Nov. 24, 2016–Urbina, Ian
Homeowners are slowly growing wary of buying property in the areas most at risk, setting up a potential economic time bomb in an industry that is struggling to adapt.