Wall Street Journal, June 20, 2016–Rexrode, Christina
The two banks have lagged behind Wells Fargo and J.P. Morgan on certain metrics, including dividends, share-price gains and valuation.
Category: Top National News
MBA: Commercial Loans Strong; Few Late-Pays
GlobeSt.com, June 9, 2016–Bubny, Paul
The Mortgage Bankers Association’s Jamie Woodwell cites “strong fundamentals and strong property prices, as well as still-low interest rates” underpinning commercial mortgages.
CFPB Clarity on Investors’ TRID Liability Could Thaw Secondary Market
National Mortgage News, June 9, 2016–Finkelstein, Brad
Secondary market loan purchaser liability is probably the juiciest topic that the Consumer Financial Protection Bureau will address in its expected clarifications of TILA/RESPA integrated disclosure rules in July.
If We Aren’t Careful with GSE Risk Transfer, Mortgage Rates Could Become Volatile
Urban Institute, June 9, 2016–Kaul, Karan
Today, the guarantee fees borrowers pay on mortgages backed by the GSEs are set by the Federal Housing Finance Agency. The fees do not change with market conditions, largely insulating borrowers from significant mortgage rate volatility. But in a future housing finance system, private capital (rather than the government) will bear most credit risk.
Trade Groups to Watt: Congress Needs to Lead on GSEs
National Mortgage Professional, June 8, 2016–Hall, Phil
Five industry trade groups expressed their concern to Federal Housing Finance Agency Director Mel Watt that any reforms to the secondary market should originate in Congress and not in his regulatory agency.
Ginnie Mae President: This is Why Independent Banks Need More Access to Credit
HousingWire, June 8, 2016–Tozer, Ted
The author, president of Ginnie Mae, warned a lack of access to capital could severely limit the servicing capacity of independent mortgage bankers, which could in turn limit overall servicing capacity.
Faulty Mortgage Practices Continue to Take Social Toll Long After Housing Crisis
MarketWatch, June 8, 2016–Riquier, Andrea
A lack of trust in institutions persists after the housing crisis, says book author David Dayen.
Here’s Why You Should Start Investing in Single-Family Rentals
HousingWire, June 8, 2016–Swanson, Brena
The single-family rental market comprises 13% of all occupied housing and 37% of the total rental market and is only poised for more growth from here, a white paper from the National Rental Home Council said.
Affordable Housing and Access to Credit: Critical Objectives for a New Secondary Mortgage Market
Urban Institute, June 7, 2016–Lopez, Rodrigo; Still, Debra
The authors–Lopez, chairman of the Mortgage Bankers Association; and Still, a past MBA chair–said MBA and its members believe that housing finance reform must address and support affordable rental housing, broad access to credit for qualified borrowers, and a commitment to supporting underserved markets.
Commercial Loan Delinquencies Stay Down
Scotsman Guide, June 7, 2016–Whitman, Victor
Delinquency rates for commercial loans held steady at low levels in the first quarter, while the number of troubled loans held in the much-watched category of commercial mortgage-backed securities fell steeply, the Mortgage Bankers Association reported.