HousingWire, May 10, 2016–Lane, Ben
Homes in some stage of foreclosure and the number of seriously delinquent mortgages are now at levels not seen since late 2007, according to a new report from CoreLogic.
Category: Top National News
MBA: 30-Year Mortgage Rate Predicted to Hover Around 4%
Housing Wire, May 16, 2016
Mortgage rates are forecasted to hover around the 4% level for about another year as the market awaits future Federal Reserve interest rate hikes, Mike Fratantoni, chief economist for the Mortgage Bankers Association, said in a press conference at the MBA Secondary conference in New York City.
Selling Loans to Freddie Will Soon Get Faster, But There’s a Catch
National Mortgage News, May 16, 2016–Sinnock, Bonnie
The good news for mortgage lenders: Freddie Mac will soon roll out a suite of tools that should speed loan sales to the GSE. The catch: lenders will have to wait a little longer for a related change that will reduce their liability for buying back defective loans from Freddie.
Default and Loss Experience for Two- to Four-Unit Properties
The Urban Institute, May 16, 2016–Goodman, Laurie; Zhu, Jun
The authors said two-to-four-unit buildings disproportionately provide housing and income to low-income communities and minority owners and renters and suggests that overcorrection by policymakers caused why obtaining these loans has become more difficult.
Stevens: MBA Will Continue Fighting the Good Fight
Mortgage News Daily, May 16, 2016–Swanson, Jann
Despite a mortgage lending environment that is both the most conservative and safest we have ever seen, Mortgage Bankers Association President and CEO David Stevens said on Monday that most lenders feel like the mortgage industry is under attack
Freddie Mac Posts $354 Million Quarterly Loss
Scotsman Guide, May 3, 2016–Whitman, Victor
Freddie Mac reported a loss in the first quarter driven by lower interest rates and widening spreads on mortgage securities. Mortgage Bankers Association President David Stevens said Freddie’s loss underscored the need for Congress to embark on GSE reform.
Freddie Mac CEO: Mortgage Industry Running Better than Ever
HousingWire, May 3, 2016–Gaffney, Jacob
Right now, unlike in 2009, the mortgage finance world is at its best, says Freddie Mac CEO Donald Layton, and can only get better.
Former President of Ginnie Mae: Agency Should Split from HUD
HousingWire, May 3, 2016–Murin, Joseph
If Ginnie Mae were a privately held or publically traded corporation, it would likely be seeking massive capital investments today in preparation for a new level of growth, says former Ginnie Mae President Joseph Murin.
United Guaranty’s 1Q Income Up 12% Even as NIW Falls 16%
National Mortgage News, May 3, 2016–Finkelstein, Brad
United Guaranty’s pretax operating income of $163 million benefited from lower mortgage delinquency rates but a decline in refinance originations affected the amount of new insurance written.
Low Rates Push Walter Investment to 1Q Loss
National Mortgage News, May 3, 2016–Passy, Jacob
Walter Investment Management Corp. sank into a deeper $172.7 million net loss during the first quarter, as lower interest rates caused pressure on the company’s mortgage servicing rights valuation.