Category: Top National News

National Mortgage News, Nov. 29, 2016–Passy, Jacob
Freddie Mac has published a list of companies that meet its requirements regarding the creation, signing and storage of electronic promissory notes.

National Mortgage News, Nov. 30, 2016–Sinnock, Bonnie
Removing Fannie Mae and Freddie Mac from government control, as Treasury Secretary-designate Steven Mnuchin would like to, could mean the two entities will do more to compete for lenders’ loans. “Private companies can be more innovative and they can compete more for customer service, potentially, if we do this right,” said Mortgage Bankers Association CEO David Stevens.

The Street, Nov. 30, 2016–Ragusa, Gina
Rising mortgage rates and an uncertain financial future is prompting house hunters to seek a low down payment mortgage option as finding an affordably priced home remains arduous. MBA President and CEO David Stevens noted investor expectations are driving jump in mortgage rates.

Washington Post, Nov. 30, 2016–Harney, Kenneth R.
The two behemoths of the mortgage business–Fannie Mae and Freddie Mac–continue to use a credit-scoring model that even its developer, FICO, says is not as “predictive” as its much newer models. Michael Fratantoni, chief economist for the Mortgage Bankers Association, said “by sticking to old models we are disadvantaging” sizable numbers of consumers.

HousingWire, Nov. 30, 2016–Swanson, Brena
Genworth survey of attendees at MBA Annual Convention shows industry making progress in compliance and access to credit, but headwinds persist.

GoRion, Nov. 29, 2016–Bourgi, Sam
With Republicans controlling both houses of Congress, talks about ending the conservatorship are resurfacing. After all, it was never meant to last this long.

Washington Post, Nov. 30, 2016–O’Connell, Jonathan
Japanese home-building giant Sekisui House announced Wednesday that it is buying the main Fannie Mae headquarters building on Wisconsin Avenue NW in an $89 million deal for one of the largest development sites in the District.

Mortgage Daily, Nov. 30, 2016
Freddie Mac, which made the predictions in its November 2016 Economic & Housing Market Forecast, cut its first-quarter 2017 forecast from $340 billion projected last month.

Mortgage Daily, Nov. 30, 2016
Serious residential loan delinquency at Fannie Mae dropped to the lowest level since it fell into conservatorship.

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.