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.
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.
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.
HousingWire, June 17, 2016–Swanson, Brena
Intercontinental Exchange, ICE, announced on Friday that it plans to acquire a majority equity position in MERSCORP Holdings, the owner of Mortgage Electronic Registrations Systems, collectively known MERS, sending a signal to the market that MERS is finally vindicated.
Bloomberg, June 17, 2016–Geiger, Keri; Farrell, Greg; Schoenberg, Tom
U.S. prosecutors have abandoned their case against Angelo Mozilo, a pioneer of the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring a civil suit against him.
Multi-Housing News, June 17, 2016–Fiorilla, Paul
For most of the last six months, the top concern of the CMBS market was the “risk-retention” rule mandated by the Dodd-Frank Act that was approved by a host of regulators, including the Federal Reserve and Securities and Exchange Commission. But now some of the concerns about risk-retention are taking a back seat to some of the other regulations dealing with trading and the process of building pools in terms of the impact on pricing and liquidity in the market.
Investor’s Business Daily, June 17, 2016 How large of an investment opportunity is being created by the upcoming Sept. 1 expansion of the familiar 10 major sectors with the debut of a new, 11th sector devoted to real estate, in benchmarks such as the S&P 500 and others run by S&P Dow Jones Indices and MSCI? The impact could be big.
World Property Journal, June 20, 206–Gerrity, Mike
According to the Mortgage Bankers Association, commercial and multifamily mortgage debt outstanding increased by $35.3 billion in the first quarter, as three of the four major investor groups increased their holdings. That is a 1.2 percent increase over the fourth quarter.
Bloomberg, June 20, 2016–Gittelsohn, John; Mulholland, Sarah
U.S. commercial real estate prices may fall as much as 5 percent in the next 12 months amid tightened regulations, a wall of debt maturities and property sales by publicly traded landlords, Pacific Investment Management Co. said in a report Monday.
HousingWire, June 20, 2016–Lane, Ben
According to the FTC, the California-based law firms bilked millions of dollars out of homeowners who were facing foreclosure by telling them that they could join a “mass joinder” lawsuit against their respective mortgage note holders that could discharge their mortgage entirely, provide monetary relief, or both.
