UExpress, Jan. 6, 2017–Sichelman, Lew
The foreclosure crisis that hurt so many homeowners may be waning, but now, more and more renters are facing eviction.
Category: Top National News
Credit Risk Transfer in a New World–The Waterfall of Risk Falls Squarely on Private Capital!
GoRion, Jan. 6, 2017–Schwartz, Faith
The call for a liquid safe and sound secondary mortgage market system should “Trump” any variations that do not ensure this is the case. And the GSE’s and FHFA have created the path forward on how to integrate CRT into the many variations of reform we may see in the upcoming administration.
Housing Advocates Praise Reduction of Mortgage Insurance Premiums
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.
Private M.I. Firms Unhappy With FHA Premium Cuts
Mortgage Daily, Jan. 9, 2017
Private mortgage insurance companies are annoyed at the Federal Housing Administration’s decision to lower mortgage insurance premiums.
OCC Terminates HSBC Mortgage Servicing Restrictions
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.
The War Around CFPB Director Richard Cordray
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.
New York Proposes New Rules for Reverse Mortgages
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.
The State of the Commercial Real Estate and CMBS Markets: Implications for Commercial Banks
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.
HAMP Tab Reaches $23 Billion
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.
CFPB’s Arbitration Plan is Likely Dead on Arrival
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.