National Mortgage News, Dec. 8, 2015–Collins, Brian
Fannie Mae has updated its underwriter servicing tool to make it easier for servicers to determine the eligibility of distressed homeowners for a loan modification.
Category: Top National News
Cheat Sheet: What to Expect from Regulators in 2016
National Mortgage News, Dec. 14, 2015–Collins, Brian
Mortgage lenders and servicers weary from a raft of regulatory changes in recent years may see some respite in 2016. Pete Mills, senior vice president with the Mortgage Bankers Associatoin, said the current good-faith compliance framework is “helpful,” but wants the Consumer Financial Protection Bureau to grant a formal safe harbor.
Royce Targets GSEs on FICO-Only Credit Scoring
National Mortgage Professional, Dec. 14, 2015–Hall, Phil
After successfully pushing through bipartisan legislation that capped the salaries of the government-sponsored enterprise (GSE) chief executives, Rep. Ed Royce (R-CA) is taking a new aim at Fannie Mae and Freddie Mac with a bill that would change the GSE credit scoring process.
Fannie and Freddie’s Propaganda War
Wall Street Journal, Dec. 11, 2015–Jenkins, Holman W. Jr.
The New York Times’ ‘investigation’ of the battle over the housing giants’ fate may be nonsensical but that’s OK by certain hedge funds.
Tax Break for Home Short Sellers at Risk
Wall Street Journal, Dec. 13, 2015–Kusisto, Laura
Last-minute negotiations in Washington have left real-estate agents and sellers nervous about the possibility that distressed homeowners could receive an unwelcome tax hit. “Borrowers need the certainty that they will not be faced with a large, unexpected tax bill,” said Bill Killmer, senior vice president for legislative and political affairs at the Mortgage Bankers Association.
‘Too Big to Care:’ Deteriorating Bank-Owned Homes Costing Taxpayers Millions Annually
Ann Arbor News (Mich.), Dec. 13, 2015–Perkins, Tom
Lending institutions leave houses to rot for a simple reason – there is no financial, legal or moral motivation to do otherwise, according to several industry officials.
We’ve Learned Nothing from the Subprime Mortgage Meltdown. Here’s Proof
Los Angeles Times, Dec. 15, 2015–Lazarus, David
“The Big Short,” which I saw over the weekend, is an entertaining movie. It’s also deeply disturbing because one take-away is that we learned nothing from the stupidity and greed of the subprime mortgage meltdown.
Delinquency Rates for Commercial Loans Fall in Third Quarter
Scotsman Guide, Dec. 1, 2015–Whitman, Victor
Delinquency rates for commercial and multifamily mortgages fell to new lows in the third quarter, the Mortgage Bankers Association reported on Tuesday.
Looming Rate Rise Weighs on REIT Shares
Wall Street Journal, Dec. 1, 2015–Pleven, Liam
For months, investors and executives have been waiting for shares of real-estate investment trusts to catch up to the broader stock market and reflect the value of the properties the companies own. They may have to wait at least a little while longer.
Mortgage Bankers Propose Swapping Risk Exposure for Lower Fees
Bloomberg, Dec. 2, 2015–Scully, Matt
Mortgage bankers are offering to take on increased default risk under a plan that would reduce the insurance fees they pay when their loans are bundled into Fannie Mae and Freddie Mac securities.