The Mortgage Bankers, in a series of letters to federal agencies, offered recommendations to the Federal Housing Finance Agency on its proposed capital requirements for the government-sponsored enterprises (Fannie Mae and Freddie Mac); the FHFA proposed rule on the GSEs’ Uniform Mortgage-Backed Security; and the Office of the Comptroller of the Currency’s proposed rule to revamp the Community Reinvestment Act.
Category: News and Trends
CMBS Supply-Demand Fundamentals Stable
Commercial property market supply and demand fundamentals remained relatively stable in the second quarter, said Moody’s Investors Service, New York.
MBA, Trade Groups Press Congress on Flood Insurance Program Extension
More than two dozen industry trade groups joined the Mortgage Bankers Association in a letter to House and Senate leaders, urging them to extend the National Flood Insurance Program beyond its latest expiration date (Nov. 30).
UI Paper Makes Case for Uniform Mortgage Servicing Data Standards
A new paper from the Urban Institute, Washington, D.C., said uniform data standards for mortgage servicers would benefit consumers, increase data accuracy, lower risk of errors and offset “skyrocketing” servicing costs.
CoreLogic: Mortgage Delinquency, Foreclosure Rates at 12-Year Low
CoreLogic, Irvine, Calif., said 4 percent of mortgages nationally were in some stage of delinquency in August, the lowest rate since 2006.
TransUnion: Subprime Market Grows as Credit Market Strengthens
TransUnion, New York, said despite slowing mortgage originations, the U.S. home lending market is showing other signs of recovery, with delinquencies dropping every quarter since 2009.
Ripple Effects from Amazon’s HQ2 Decision
Amazon’s decision to select New York City and Arlington, Va. for its new headquarters properties will affect more than just those areas’ office sectors, analysts say.
Broeksmit: ‘Balance’ Key to GSE Reform Efforts
MBA President and CEO Robert D. Broeksmit, CMB said policymakers should take a balanced approach to GSE reform to avoid market disruptions and enable a smooth transition.
Why Cash-Out Refinancings Aren’t Raising Alarm Bells This Time
After the housing finance crisis of 2007, a great deal of industry hand-wringing took place. Unscrupulous subprime lenders got much of the blame; so did (now defunct) lenders who made cash-out refinance loans.
S&P: As Regulations In Residential Servicing Loosen, Challenges Will Still Remain
S&P Global Ratings, New York, said despite continuing scrutiny of residential servicers in the past decade, relief appears in sight.