Reuters, Nov. 17, 2016
Minneapolis Federal Reserve Bank president Neel Kashkari unveiled a plan to end systemic risk posed by U.S. banks by forcing them to hold a massive amount of capital–as much as 38 percent.
Category: Top National News
Troubled FHA Reverse Mortgage Program May Prevent More Premium Cuts
National Mortgage News, Nov. 17, 2016–Collins, Brian
The Home Equity Conversion Program experienced a huge swing in its net worth during the fiscal 2016 year, plummeting from a value of $6.8 billion in fiscal 2015 to negative $7.7 billion.
3-Year High for GSE Refinances
Mortgage Daily, Nov. 17, 2016
An analysis of quarterly data by the Federal Housing Finance Agency indicates 250,534 Fannie Mae and Freddie Mac refinances in September.
Here’s the Updated CFPB List for Rural and Underserved Counties in 2017
HousingWire, Nov. 17, 2016–Swanson, Brena
The Consumer Financial Protection Bureau released the official “rural or underserved” and “rural” counties lists for the industry to go off of in 2017.
Major Trade Groups Urge Congress to Renew Two Major Homeowner Tax Provisions
HousingWire, Nov. 16, 2016–Swanson, Brena
This year two of the biggest tax provisions at the top of Congress’ pile to renew impact housing and homeowners, especially first-time homebuyers. MBA, NAHB and NAR urged Congress to keep these tax extensions.
How Big a Collateral Risk Are PACE Loans?
National Mortgage News, Nov. 16, 2016–Bisbey, Allison
Lenders often consent to borrowers taking on additional debt that is subordinate to theirs, since they are assured of being repaid first. But PACE loans create what is known as a super-senior lien.
Hensarling Targets GSE Reform, Dodd-Frank Rollback in Ambitious Agenda
National Mortgage News, Nov. 16, 2016–McKendry, Ian
House Financial Services Committee Chairman Jeb Hensarling recited a litany of priorities for his panel next year, touching on everything from the very broad, like housing finance reform, to the specific, including targeting a proposal to rein in payday lending.
Prime Jumbo Mortgage Bonds are Disappearing. Here’s Why
HousingWire, Nov. 16, 2016–Lane, Ben
Recent reports from Standard & Poor’s Global Ratings showed that rate at which new mortgage bonds enter the market is slowing considerably in 2016.
Nationstar Transfers All REO Auction Activity to Xome
HousingWire, Nov. 16, 2016–Swanson, Brena
The report noted that Nationstar uses Xome for field services and real estate owned asset management and closings.
Walter Capital Opportunity Corp. Selling $10 Billion MSR Portfolio to New Residential
HousingWire, Nov. 16, 2016–Lane, Ben
Sale expected to generate $90 million for Walter Investment Management Corp.