Mortgage Daily, Aug. 29, 2016
July secondary activity off less than 1% from prior month.
Category: Top National News
Florida Court Upholds City’s Rights to Place Liens on Zombie Homes
HousingWire, Aug. 29, 2016–Lane, Ben
Court: cities’ liens on foreclosed properties aren’t extinguished when home is sold.
Colony Starwood Homes Sells Off Massive Non-Performing Loan Portfolio
HousingWire, Aug. 29, 2016–Lane, Ben
Company basically closes book on its non-performing loan business.
Struggling Malls Pose Outsized Risk to CMBS
National Mortgage News, Aug. 29, 2016–Fest, Glen
For commercial mortgage bond investors, huge risks coming ahead.
Industry Delivers Mixed Response to New Fannie, Freddie Mortgage Application
HousingWire, Aug. 23, 2016–Ramirez, Kelsey
MBA President and CEO David Stevens, CMB, says each new form adds “greater complexity.”
MBA: The Most Important Factor for Lenders in the TRID Proposed Changes
HousingWire, Aug. 16, 2016–Swanson, Brena
MBA senior vice president Pete Mills says lenders must focus on how proposed changes could impact systems.
New CFPB Rule Gives Servicers Just Enough Rope to Hang Themselves
National Mortgage News, Aug. 16, 2016–Sinnock, Bonnie
Servicers got what they asked for when the Consumer Financial Protection Bureau limited the specificity of certain requirements in its final servicing rule. Now they may regret it.
Mortgage Risk Stellar Again With $3.4 Billion Wager on ‘New War’
Bloomberg, Aug. 16, 2016–Basak, Sonali; Philip, Agnel
Arch Capital Group CEO Dinos Iordanou said mortgage insurance is once again a “safe bet.”
Married Couples Miss a Tax-Code Break for Jumbo Mortgages
Chicago Tribune, Aug. 16, 2016–Harney, Kenneth R.
Federal tax code appears to now favor unmarried partners when it comes to deducting mortgage interest on jointly owned houses.
U.S. Consumer Agency Faces Heat on Financial Arbitration Rules
Reuters, Aug. 16, 2016–Lambert, Lisa
The Consumer Financial Protection Bureau gets criticism from industry and consumers on proposal to block companies from forcing them into arbitration.