Category: Top National News

National Mortgage News, Dec. 1, 2016–Sinnock, Bonnie
President-elect Donald Trump’s tax overhaul may include capping the mortgage interest deduction, according to Treasury Secretary-designate Steve Mnuchin.

GoRion, Dec. 1, 2016–Sichelman, Lew
Dissident stockholders in Fannie Mae and Freddie Mac rolled out the heavy guns earlier this month to slow what appears to be a groundswell of support for the Federal Housing Finance Agency’s plan to reduce the government’s risk exposure by moving more private capital into the first-loss position ahead of the GSEs’ through expanded mortgage insurance.

National Mortgage News, Dec. 1, 2016–Passy, Jacob
Bank of America has conditionally completed 97% of the $7 billion in consumer relief it agreed to provide as part of its 2014 settlement with the Department of Justice and six states. 

HousingWire, Dec. 1, 2016–Swanson, Brena
The idea and desire for GSE reform isn’t an easy hurdle to clear, said Jeb Mason, a partner with The Cypress Group.

Mortgage Daily, Dec. 1, 2016
Issuance of agency mortgage-backed securities retreated to the lowest level in four months.

Washington Post, Dec. 5, 2016
“I am thrilled to nominate Dr. Ben Carson as our next Secretary of the U.S. Department of Housing and Urban Development. Ben Carson has a brilliant mind and is passionate about strengthening communities and families within those communities,” the president-elect said.

National Mortgage Professional, Dec. 2, 2016–Hall, Phil
The incoming Trump Administration’s decision to prioritize the long-stalled reform of the government-sponsored enterprises (GSEs) has been greeted with praise from the head of the nation’s major mortgage banking trade group.

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.

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.

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.