Mortgage Daily, Nov. 7, 2016
While there was a little upward movement in mortgage production at Navy Federal Credit Union, loan servicing and mortgage staffing jumped higher.
Category: Top National News
How to Profit With FHA 203(k) Refinance Mortgages
The Mortgage Reports, Nov. 6, 2016–Miller Peter G.
This unique mortgage lets you add financing for major home additions and improvements to your refinance loan amount.
Homeowners Facing Foreclosure Hit 9-Year Low
HousingWire, Oct. 25, 2016–Lane, Ben
Black Knight report shows only 1% of all mortgages in active foreclosure.
International Group Acquires Genworth Financial
DS News, Oct. 25, 2016–Baer, Kendall
China Oceanwide Holdings Group Co. Ltd., and Genworth Financial Inc. entered into a definitive agreement under which China Oceanwide will acquire all of Genworth’s outstanding shares for $2.7 billion in an all-cash transaction.
CFPB’s Cordray Puts Servicers on Notice Ahead of New Rules
National Mortgage News, Oct. 25, 2016–Kilgore, Austin
“In certain circumstances, we will require specific and credible plans on how their information technology systems will be upgraded,” Cordray said during a speech Tuesday at the Mortgage Bankers Association’s Annual Convention in Boston.
Fannie Provides Key Details on Relief from Loan Buybacks
National Mortgage News, Oct. 26, 2016–Sinnock, Bonnie
Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower’s income, assets and employment information have been validated through automated underwriting.
Watt Remains Mum on Capitalizing GSEs
Scotsman Guide, Oct. 25, 2016–Whitman, Victor
Federal Housing Finance Agency Director Mel Watt steered clear of a controversial proposal to recapitalize the government-sponsored enterprises Fannie Mae and Freddie Mac and also largely avoided other hot-button topics under review by the agency.
REIT Earnings to Diverge Along Sectors
Wall Street Journal, Oct. 25, 2016–Fung, Esther
Logistics space owners see surprisingly strong results; Aéropostale bankruptcy hits SL Green Realty.
Industry Experts Reveal Details of HAMP Replacement Program
HousingWire, Oct. 26, 2016–Ramirez, Kelsey
The Mortgage Bankers Association revealed its new program proposal at the end of September. While the Federal Housing Finance Agency already created a new program to replace the Home Affordable Refinance Program, nothing is in place to take over for HAMP.
Ocwen’s Earnings, Mortgage Originations Improve
Mortgage Daily, Oct. 26, 2016
The last time Ocwen earned a profit was in the second-quarter 2015.