National Mortgage News, June 14, 2016–Blair, Wesley
The author, with Brookline Bank in Boston, argues that condominium priority liens benefit everyone–condominium associations, condominium owners and the lenders financing their mortgages.
Category: Top National News
Fannie Mae: Almost No Lenders Plan to Ease Credit Standards
HousingWire, June 14, 2016–Lane, Ben
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is on the decline, with the Mortgage Credit Availability Index for May showing a decrease for the third straight month. And a new report from Fannie Mae suggests there’s no light at the end of the tunnel for those who hope to see credit standards relaxed any time soon.
Could the Tide Be Turning on Reverse Mortgages?
MarketWatch, June 15, 2016–Munnell, Alicia H.
It does seem, at long last, that reverse mortgages are entering mainstream consciousness. And it may be happening just in time to help millions of Americans who will retire with grossly inadequate 401(k) balances to have a decent standard of living when they stop working.
Servicing Values Impacting Borrowers and Lenders; RESPA/CFPB Training and Events
Mortgage News Daily, June 15, 2016–Chrisman, Rob
The Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance report stated that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $825 on each loan they originated in the first quarter.
Homeowners Can Finance Energy Improvements Through New Mortgage Programs
Washington Post, June 15, 2016–Harney, Kenneth
Want to put solar panels on your roof? A new program could help make that happen, and because it uses long-term mortgage money, the interest rates are similar to those on a regular home loan–currently less than 4 percent if you’ve got good credit.
MGIC CEO Questions the Role of the FHA
HousingWire, June 15, 2016–Swanson, Brena
As discussions around the future of the GSEs and possible reductions in mortgage insurance premiums at the Federal Housing Administration start to reach a boiling point, Patrick Sinks, president and CEO of private mortgage insurer MGIC, questioned what FHA’s role should be going forward.
Mortgage Servicing Rights’ Valuations Are Getting Hit
Market Realist, June 15, 2016–Nyitray, Brent
Ever since various state regulators and the Consumer Financial Protection Bureau started leaning on Ocwen Financial (OCN), the servicing industry has been under tremendous regulatory pressure.
Distressed Sales Continue to Decline
National Mortgage Professional, June 16, 2016–Hall, Phil
There is nothing distressing about the latest data regarding distressed home sales. According to CoreLogic, distressed sales accounted for 9.9 percent of total U.S. home sales in March, down 2.7 percent year-over-year drop and a 1.7 percent dip from February.
Lax FHFA Oversight Leads to Cost Overruns on Fannie’s New HQ: Watchdog
National Mortgage News, June 16, 2016–Finkelstein, Brad
Lax oversight may have played a part in rising costs to finish the space Fannie Mae will be renting for its new headquarters, a report from the Federal Housing Finance Agency Office of the Inspector claims.
MBA Petitions FCC Over Outbound Communications
National Mortgage Professional, June 17, 2016–Hall, Phil The Mortgage Bankers Association filed a petition with the Federal Communications Commission seeking to exempt mortgage servicing calls from the prior express consent requirements included in the Telephone Consumer Protection Act.