Banker and Tradesman, Nov. 25, 2015
The Mortgage Bankers Association and other groups have asked the Securities and Exchange Commission (SEC) to exempt multifamily transactions from a proposed rule that would require margin be posted on forward-settling agency securities.
Washington Post, Nov. 25, 2015–Harney, Kenneth R.
How are home closings going nearly two months after the new federal real-estate disclosure rules took effect? Are they being knocked off schedule and taking much longer from date of sale to final settlement, as some mortgage industry executives predicted? It depends on whom you ask.
New York Times, Nov. 27, 2015–Prevost, Lisa
A little-known program allows police officers, teachers, firefighters and emergency medical technicians to buy certain homes for half price. But financing comes with some strings attached.
Wall Street Journal, Nov. 30, 2015–Pfau, Wade
As the government continues to strengthen the rules and regulations for reverse mortgages, and as new research continues to pave the way with an agnostic approach about their role, we may be at a tipping point in which reverse mortgages become much more predominant in the years ahead.
HousingWire, Nov. 24, 2015–Lane, Ben
The data come from the Consumer Financia Protection Bureau’s latest snapshot report about its consumer complaint database, which showed that complaints about Ocwen in the last three months are down by 16% over the same time period last year.
New York Times, Nov. 24, 2015–Eavis, Peter
As an important deadline looms in Congress, the Obama administration signaled on Tuesday that it would push back hard against any legislation that substantially loosens the sweeping 2010 Dodd-Frank Act.
Bloomberg, Nov. 24, 2015–Kawa, Luke
Thanks to extensive monetary accommodation that has pushed returns on corporate bond in Europe to ultra-low levels, investors will have no choice but to search for yield across the Atlantic, Bank of America credit strategists contend.
National Mortgage News, Nov. 30, 2015–Sinnock, Bonnie
A plan by the government-sponsored enterprises to begin electronically collecting the new Closing Disclosure data is designed to promote Fannie Mae and Freddie Mac’s loan quality and risk management goals. But the initiative may also prompt broader use of electronic signatures and paperless processing in the mortgage industry. TRID implementation “was painful” and required the expansion of industry data standards by as many as 300 data points, said Tim Anderson, a director at mortgage software vendor DocMagic. The UCD, which is in testing now, adds a few dozen more data elements to the Mortgage Industry Standards Maintenance Organization guidelines and is “manageable,” he said.
Wall Street Journal, Nov. 30, 2015–Harrison, David
The Federal Reserve on Monday adopted a rule curtailing its flexibility to set up loan programs in a crisis, seeking to assuage Capitol Hill concerns about the central bank’s broad powers to pump money into the financial system.
Los Angeles Times, Nov. 30, 2015–Koren, James Rufus
PennyMac, AmeriHome Mortgage and Stearns Lending are all among the nation’s largest mortgage lenders and none of them is a bank. They’re part of a growing class of alternative lenders that now extend more than four in 10 home loans.
