Category: Top National News

Green Building Elements, Oct. 25, 2015–Hanley, Stephen
Because the PACE loan is included in the taxes on the property, it has priority over the first mortgage in the event of default. “There is a general principle in mortgage banking: first in time, first in line,” said Pete Mills, senior vice president with the Washington-based Mortgage Bankers Association. “Taxing authorities are always a risk of jumping ahead, but that’s a far different matter than a private company selling energy improvements being able to jump ahead.”

National Mortgage News, Oct. 23, 2015–Collins, Brian
Legislation would require GAO to study the impact the Federal Housing Finance Agency membership rule would have on the Federal Home Loan Bank System and its members.

Albuquerque Journal (N. Mex.), Oct. 22, 2015–Ponder, Crissinda (Bankrate.com)
Mortgage credit availability has increased, meaning that lending standards have somewhat loosened for most of 2015, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index.

Mortgage News Daily, Oct. 22, 2015–Swanson, Jann
The timing of Freddie Mac CEO Donald Layton’s column indicates it was intended as a bit of a counterpoint White House officials’ remarks at the recent MBA Annual Convention.

National Mortgage News, Oct. 22, 2015–Finkelstein, Brad
A pair of title insurers expect to suffer from TRID implementation hangover in the fourth quarter as the slowdown in mortgage applications related to implementation will affect them as well.

National Mortgage News, Oct. 22, 2015–Berry, Kate
Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014 but is “beginning to show progress” in fixing its problems, said Joseph A. Smith Jr., the monitor of the $25 national mortgage settlement.

Mortgage Orb, Oct. 21, 2015–Barnard, Patrick
I just returned from the Mortgage Bankers Association’s 2015 Annual Convention and Expo held in San Diego and I must say this year’s conference was the best of the three I’ve attended.

Mortgage Orb, Oct. 22, 2015–Barnard, Patrick
In a speech during the Mortgage Bankers Association’s 2015 Annual Convention and Expo in San Diego, Consumer Financial Protection Bureau Director Richard Cordray said regulators should perhaps be paying more attention to the impact vendor errors can have on lender’s ability to comply with new regulations.

HousingWire, Oct. 21, 2015–Bell, Michael; Liss, Elliot
The run up to the Oct. 3 “live” date for TRID could be a case study in client-vendor relations in the mortgage industry.

National Mortgage News, Oct. 20, 2015–Berry, Kate
Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.