Boston Agent Magazine, Jan. 4, 2016–McClister, James
Following the Oct. 3 implementation of the new disclosure rules, Richard Cordray, director of the Consumer Financial Protection Bureau, compared the fears surrounding TRID to those inspired by Y2K. But after receiving a letter from the Mortgage Bankers Association, the CFPB responded in a letter of its own (addressed to MBA President and CEO David Stevens) this time with a much more reassuring message.
National Mortgage News, Jan. 4, 2015–Peters, Andy
The delinquency rate on commercial mortgage-backed securities rose slightly in December, according to Trepp. The rate of U.S. commercial real estate loans embedded in CMBS that were delinquent rose 4 basis points in December to 5.17%, compared to November, Trepp said.
National Mortgage News, Dec. 18, 2015–Finkle, Victoria
Sen. Bob Corker, R-Tenn., championed a provision he added to the budget bill that would temporarily prevent the Treasury Department from recapitalizing Fannie Mae and Freddie Mac and discussed other banking priorities.
Mortgage Professional America, Dec. 18, 2015–da Rosa, Justin
It remains to be seen how refinance activity will react to the increase in rates; increases that have already been implemented by most big banks.
Daily Herald (Chicago), Dec. 18, 2015–Harney, Kenneth R.
Here’s some housing cheer for the end of the year: The stock market may have taken your 401(k) and other funds on scary rides in 2015, but new data from the Federal Reserve suggest that if you’ve owned a house, you’ve probably seen steady, if not spectacular, growth in your home equity.
World Property Journal, Dec. 16, 2015
The Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report said independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,238 on each loan they originated in the third quarter, down from a reported gain of $1,522 per loan in the second quarter.
HousingWire, Dec. 16, 2015–Gaffney, Jacob
The Federal Housing Finance Agency, conservator to Fannie Mae and Freddie Mac, released the third-quarter Foreclosure Prevention Report, showing an increase in foreclosure starts.
HousingWire, Dec. 16, 2015–Swanson, Brena
Now that over two months have passed since the TILA-RESPA Integrated Disclose rule went into effect, the initial impact is starting to show in the closing data, according to the latest Origination Insight Report by Ellie Mae.
Scotsman Guide, Dec. 15, 2015–Whitman, Victor
Commericial and multifamily debt rose in the third quarter with three out of the four investor classes increasing holdings, the Mortgage Bankers Association reported.
National Mortgage News, Dec. 15, 2015–Berry, Kate
Fannie Mae will retain some home loans that have defects but are still considered to be within their risk appetite. Fannie’s so-called repurchase alternative would give mortgage lenders an exit strategy for some defective loans that fall short of Fannie’s guidelines but are still expected to perform well over their lifetimes. In the past year, Fannie has been testing options for alternatives by working with lenders and asking for their input. Fannie also got input from a lender working group with the Mortgage Bankers Association.
