HousingWire, Mar. 17, 2016–Swanson, Brena
The net gain on each loan originated by independent mortgage banks and mortgage bank subsidiaries plummeted 60 percent in fourth-quarter 2015 due to the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October, the Mortgage Bankers Association reported.
National Mortgage News, Mar. 17, 2016–Finkelstein, Brad
If the Federal Reserve raises short-term rates in June, market volatility will spur investors to buy long-term bonds, driving down the 30-year mortgage rate to around 3%, consultant Barry Habib argues.
Builder Magazine, Mar. 18, 2016–Croce, Brian
It’s been more than five months since the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure (TRID) went into effect with the main goal of simplifying the home closing process for consumers. The result–a lot of moving parts.
National Mortgage News, Mar. 18, 2016–Collins, Brian
As servicers downsize their loss mitigation units, housing counselors are finding the companies’ designated points of contact are less experienced, making it more difficult to get packages approved for troubled borrowers.
HousingWire, Mar. 18, 2016–Swanson, Brena
Fannie Mae announced its first Credit Insurance Risk Transfer transactions of 2016, shifting the credit risk on pools of single-family loans with a combined unpaid principal balance of approximately $19.5 billion to a group of insurers and reinsurers.
DSNews, Mar. 21, 2016–West, Xhevrije
The non-qualified mortgage loan market has originators a bit wary toward borrowers and questioning if the risk is really worth it.
National Mortgage News, Mar. 21, 2016–Sinnock, Bonnie
As a handful of new issuers enter the market and the implementation of a key regulation pave the way for subprime securitization’s comeback, the volume of new loans that are actually available to the market remains a question.
Bloomberg, Mar. 21, 2016–Chiglinsky, Katherine
Genworth Financial Inc. shares gained after bondholders agreed to changes sought by Chief Executive Officer Tom McInerney as he reshapes the insurer and seeks to rebound from losses on long-term care coverage.
Wall Street Journal, Mar. 21, 2016–Light, Joe
The plan approved by the Federal Housing Finance Agency marks the first time that Fannie and Freddie will reduce mortgage balances on a large scale for struggling homeowners since the housing crisis erupted. But it doesn’t go as far as some housing advocates wanted.
Suburban Times (Wash.), Mar. 21, 2016
Monday the House of Representatives passed S. 2393, the Foreclosure Relief and Extension for Servicemembers Act of 2015, to extend foreclosure protection for military homeowners.
