HousingWire, Dec. 4, 2015–Lane, Ben
Despite the fact that the federal government’s Making Home Affordable program is currently set to expire at the end of next year, one Obama administration official says that the mortgage servicing rules that were adopted as part of the Home Affordable Modification Program may be sticking around–permanently.
Bloomberg, Dec. 3, 2015–Moore, Michael J.; Son, Hugh; Campbell, Dakin
The Federal Reserve, which has said it may toughen capital requirements in future stress tests of U.S. banks, is open to relaxing another aspect of the annual exams at the request of some of the firms.
Washington Post, Dec. 3, 2015–Geffner, Marcie; Orton, Kathy Experts say the key to avoiding such problems is for borrowers to understand the full ramifications of a reverse mortgage on their children and spouses. If they want their heirs to inherent the home, they need to put mechanisms in place beforehand.
Reuters, Dec. 3, 2015
The Federal Reserve bought $4.138 billion of agency mortgage-backed securities in the week from Nov. 26 to Dec. 2, compared with $5.974 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
National Mortgage News, Dec. 7, 2015–Berry, Kate
There are no easy fixes to Nationstar’s myriad problems–including a plunging stock price and increased regulatory scrutiny–but Chief Executive Jay Bray says the turnaround starts with a commitment to improving customer service.
Mortgage Professional America, Dec. 7, 2015–da Rosa, Justin
Independent mortgage professionals lack political sway the big banks enjoy, but that just means more unity is needed among the smaller players to improve their collective clout. “We are reaching a tipping point,” said Mortgage Bankers Association past chairman Bill Cosgrove, CMB.
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.
