The Federal Communications Commission yesterday approved a Declaratory Ruling affirming voice service providers may, as a default, block unwanted calls known as “robocalls.”
Category: News and Trends
Learning from CMBS Losses
One of the few positive implications of incurring losses on 12,000-plus loans is that one can extract some lessons about commercial real estate lending from the experience, said Brian Olasov, Executive Director with Carlton Fields, New York.
Senate Passes Bill Providing VA, Ginnie Mae Loan ‘Seasoning’ Fix
The Senate yesterday by unanimous consent approved a bill that would close a loophole refinanced loans must meet to be eligible for the VA guaranty and for Ginnie Mae pooling.
U.S. Home Flipping Rate at 9-Year High
ATTOM Data Solutions, Irvine, Calif., said even though overall home flipping activity fell in the first quarter, the rate of flipped home sales reached its highest rate since 2010.
House Appropriations Committee Approves Fiscal Year 2020 T-HUD Funding Bill
The House Appropriations Committee yesterday approved the Fiscal Year 2020 Transportation, Housing and Urban Development and Related Agencies bill, known as T-HUD, by a 29-21 vote.
House Committee to Vote Today on FY2020 T-HUD Bill; MBA Urges Support
The House Appropriations Committee is scheduled to meet this morning to consider a Fiscal Year 2020 appropriations bill that would provide FHA with Mortgage Bankers Association-supported staffing and systems upgrades.
Defect Risk Down for 1st Time in 8 Months
First American Financial Corp., Santa Ana, Calif., said frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased by 4.2 percent in April from March, marking the first monthly decline since last July.
‘Adverse Selection’ Drives Higher Losses for Legacy CMBS
Adverse selection in the commercial mortgage-backed securities 1.0 universe of pre-2009 loans drove loss severities higher last year, reported Fitch Ratings, New York.
Mortgage Action Alliance Call to Action Urgest Senate Support of Bill Limiting G-Fee Use
The Mortgage Action Alliance–the grassroots advocacy arm of the Mortgage Bankers Association–issued a Call to Action yesterday, urging its members to contact their senators in support of recently introduced legislation prohibiting Congress from using government-sponsored enterprise guaranty fees for unrelated spending.
MBA Raises Concerns over CECL Accounting Standard
The Mortgage Bankers Association, in a May 21 letter to the House Financial Services Committee, said new Current Expected Credit Loss accounting requirements to measure credit losses could adversely residential and commercial/multifamily lenders, particularly community lenders.