Bloomberg, May 26, 2016–Steverman, Ben
If you raise rates on the rich, will you lose them to other states? A study of 45 million IRS records suggests it doesn’t work that way.
Category: Top National News
U.S. Fed Buys $8.2 Billion of Mortgage Bonds, Sells None
Reuters, May 26, 2016
The Federal Reserve bought $8.172 billion of agency mortgage-backed securities in the week from May 19 to May 25, compared with $7.546 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
A Mortgage for Millennials with Big Student Debts
National Mortgage News, May 24, 2016–Sichelman, Lew
The extent to which student debt is keeping Millennials from buying homes is debatable. But for high-earning young professionals who are saddled with such loans, a Florida investment advisor says he has devised a path to homeownership.
Mortgage-Backed Securities: The Case for Safety and 2% Yields
Barron’s, May 20, 2016–Stone, Amey
There aren’t a lot of great fixed-income options now that the Fed is talking about hiking rates, Treasuries are selling off and the rally in corporate credit has stalled. One suggestion from the folks at LPL Financial is mortgage-backed securities, or bonds that are backed by pools of mortgages.
How Clinton Would Reform the Housing Finance System
National Mortgage News, May 20, 2016–McKendry, Ian
Presumptive Democratic nominee Hillary Clinton appears likely to embrace a recent plan to merge Fannie Mae and Freddie Mac into a single government corporation if she wins the White House.
Fed’s Tarullo Outlines Rules for Big U.S. Insurers
Wall Street Journal, May 20, 2016–Tracy, Ryan
Big U.S. insurers Prudential Financial Inc. and American International Group Inc. would face tougher capital requirements than their peers under new rules outlined for the first time Friday by the Federal Reserve’s point-man on regulation.
8 Trending Topics from MBA Secondary 2016
National Mortgage News, May 19. 2016
From the Common Security Platform and Freddie Mac loan sales to new accounting rules and what direction mortgage rates are headed, there was plenty to debate during this week’s MBA Secondary Conference in New York.
Fannie, Freddie Take Opposing Views on Mortgage Rate Outlook
National Mortgage News, May 19, 2016–Finkelstein, Brad
Fannie Mae is expecting a flat to declining interest rate environment for the next two years, while Freddie Mae believes rates will rise. Mike Fratantoni of the MBA predicted a 10-basis-point rise to 3.95%.
Lessons from TRID Help Portfolio Lenders with New Accounting Rule
National Mortgage News, May 19, 2016–Passy, Jacob
The experience of updating systems and overhauling workflows that mortgage lenders gleaned from implementing the TILA-RESPA integrated disclosures could prove useful to portfolio lenders as they implement a similarly complex accounting rule for reporting credit losses.
The Zombie Mortgage Apocalypse Recedes as Housing Regroups
MarketWatch, May 19, 2016–Riquier, Andrea
Here’s another sign the housing market is healing: even the undead are fading away. Zombie foreclosures–properties in the foreclosure process that have been left vacant–are down 30% in as of mid-May.