Mortgage Orb, Nov. 9, 2016–Caley, Nora
When Fannie Mae and Freddie Mac reported their earnings for the third quarter, both reported strong returns, but this was not greeted as particularly good news among mortgage industry observers.
Category: Top National News
PHH Settles Alleged Servicing, Origination Abuses
Mortgage Daily, Nov. 9, 2016
Allegations that PHH Mortgage Corp. has been deficient in its mortgage origination and servicing practices in New York have been been settled.
Fannie, Freddie Shares Soar Even as Fate Remains Foggy
Wall Street Journal, Nov. 13, 2016–Carney, John
President-elect Donald Trump has said little of what might happen to them; MBA President and CEO David Stevens says “anyone who thinks they know what Trump thinks about Fannie and Freddie is making it up.”
Trump Has No Plans to Change the MID: Economic Adviser
National Mortgage News, Nov. 11, 2016–Sinnock, Bonnie; Passy, Jacob
Any plans President-elect Donald Trump may have for tax reform don’t include cutting the mortgage interest deduction, according to a member of Trump’s economic advisory council.
What’s Behind a Sudden Foreclosure Spike
CNBC, Nov. 10, 2016–Olick, Diana
Foreclosures had been falling steadily to the lowest levels in nine years, but a curious spike in October may be the first sign of a crack in the recovery.
TRID Behind Buyers Remorse With Mortgage Lenders
Mortgage Daily, Nov. 10, 2016
Although customers who took out a new mortgage are more satisfied this year, a significant share have experienced buyer’s remorse.
Nonprime RMBS Different Than Pre-Crisis Securitizations Because of ‘Skin in the Game’
GoRion, Nov. 11, 2016–Curry, Kerry
The concept of “skin in the game” for residential mortgage-backed securities took on new meaning in the wake of the nation’s financial crisis and has important implications in today’s secondary market as we begin to see a nascent return to private-label securitization.
How Trump Can Improve The FHA 203(k) Mortgage Program
OurBroker.com, Nov. 14, 2016–Miller, Peter G.
One of the most-useful financial options in real estate is the FHA 203(k) loan, a handy bit of mortgage magic that deserves a lot more attention than it gets.
Serious Delinquency Mortgages at Lowest Levels Since 2007
World Property Journal, Nov. 14, 2016
The Mortgage Bankers Association reports delinquency rates for first mortgages fell to 4.52 percent at the end of the third quarter.
Full Repeal of Dodd-Frank Unlikely
Philadelphia Inquirer, Nov. 14, 2016–Mondics, Chris
President-elect Trump made plain his dislike for the Dodd-Frank Wall Street Reform and Consumer Protection Act financial regulatory law during the campaign and now it appears his administration will move quickly toward making changes.