Boston.com, June 27, 2016–Van Voorhis, Scott
It’s true but a bit counterintuitive. Banks will give you a better interest rate if you buy a more expensive and presumably bigger home.
Category: Top National News
New Bill Seeks to Stop Zombie Foreclosures
National Mortgage Professional, June 27, 2016–Hall, Phil
Sen. Bob Menendez, D-N.J., is planning to introduce the Preventing Abandoned Foreclosures and Preserving Communities Act of 2016, which is designed to address the issue of so-called zombie foreclosures.
Fitch Now Reviewing RMBS Deal Agents with Clayton
National Mortgage News, June 27, 2016–Passy, Jacob
Fitch Ratings and Clayton Holdings have launched an initiative to review residential mortgage-backed securities deal agents as part of the ratings agency’s RMBS master criteria.
MBA’s Stevens: Recap and Release is Reckless
National Mortgage Professional, June 14, 2016–Hall, Phil
The head of the nation’s most prominent mortgage banking trade group is warning that proposals to rebuild the capital reserves of the government-sponsored enterprises and then terminating their federal conservatorship would result in unprecedented damage to the housing finance market.
Commercial Debt Rises in the First Quarter
Scotsman Guide, June 14, 2016–Whitman, Victor
Three of the four major investors in commercial mortgages increased their debt holdings in the first quarter, the Mortgage Bankers Association reported.
Ryan Proposes House Republican Plan to Ease U.S. Regulations
Bloomberg, June 14, 2016–House, Billy
House Speaker Paul Ryan on Tuesday unveiled a regulatory overhaul plan that includes scaling back the 2010 Dodd-Frank financial regulation law, expanding energy production on federal land and limiting lawsuits against businesses.
Some Banks Are Siding with Condos in the Battle Over Super Liens
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.
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.