The Lede
News and Trends
CoreLogic: Foreclosure Rate Down to 1%
Data Show Foreclosures Remain High by Historic Comparison
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Equifax: Subprime Loans Hold Steady for 3rd Straight Year
Total Mortgage Volume Up; Subprime Volume Holds Steady
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Fitch: ‘Tough Times Ahead’ for Large U.S. Mortgage Servicers
Some Servicers Seeing Opportunity in Subservicing
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HOPE NOW: May Mortgage Mod Actions Top 105,000
HOPE NOW yesterday reported member mortgage lenders and servicers provided more than 105,000 mortgage modifications and other actions in May.
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MBA News
Top National News
Law Center Calls Seller-Financed Home Sales ‘Toxic Transactions’
New York Times, July 14, 2016--Stevenson, Alexandra; Goldstein, Matthew
More "skin in the game" makes homeowners more responsible, study says.
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Why Investors Own Private Mortgage-Backed Securities
U.S. News & World Report, July 18, 2016--Brown, Jeff
Analysts say they're safer and worthy of part of investment portfolio.
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CBRE Sees Tough Year for Commercial Mortgage Bonds With New Rule
Bloomberg, July 18, 2016--Evans, Rachel
CBRE says looming regulation weiging on new issuance.
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FHLB Jumbo Loan Limits Raised to $2.5M
National Mortgage News, July 18, 2016--Collins, Brian
Mortgage Partnership Finance Direct program to accept jumbos, hybrid ARMs.
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Race Strongly Influences Mortgage Lending in St. Louis, Study Finds
New York Times, July 19, 2016--Eavis, Peter
Study asserts federal data show mortgage lending reinforcing segregation in St. Louis neighborhoods.
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Risk Retention Rattles Commercial Mortgage Market
National Mortgage News, July 15, 2016--Collins, Brian
New requirements could disrup commercial mortgage-backed securities market.
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Study: Recent Changes to Reverse Mortgage Rules Cut Default Risk in Half
HousingWire, July 15, 2016--Lane, Ben
Center for Retirement Research study lauds new HECM rules.
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Tax Credit Certificates on the Rise
UExpress, July 15, 2016--Sichelman, Lew
The certificates help low-, moderate-income buyers offset interest.
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Senate Passes Bipartisan FHA Condo Reform Bill
National Mortgage News, July 15, 2016--Collins, Brian
Bill includes major reforms to FHA condo program, Rural Housing Service program.
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Neighbors Say ‘Zombie’ Condominiums Also a Drain
LoHud (N.Y.), July 15, 2016--Matsuda, Akiko (N.Y. MBA mention)
N.Y. Mortgage Bankers Association reiterates call for changes to state foreclosure procedures, longest in country.
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GSE Front-End Risk-Sharing Worries Small Lenders
Scotsman Guide, July 12, 2016--Whitman, Victor
MBA President/CEO Dave Stevens, CMB calls for consistency.
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Millennials with Student Debt Not Interested in Buying Homes
HousingWire, July 13, 2016--Ramirez, Kelsey
Millennials reluctant to take on more debt.
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Fight Over Reform Bill Turns into Fight Over Capital Worldviews
National Mortgage News, July 13, 2016--McKendry, Ian
Brexit, other factors widen debate.
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Will a CFPB Commission Ever Happen?
National Mortgage News, July 13, 2016--Berry, Kate
Republicans, industry support five-person commission based on SEC.
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Mortgage Refinances Surge 11%, as Rates Drop to Three-Year Low
CNBC, July 13, 2016--Olick, Diana
Rates at three-year lows.
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Language Question Draws House Scrutiny
Scotsman Guide, July 13, 2016--Whitman, Victor
MBA, House members voice oppopsition to controversial FHFA proposal.
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Foreclosures, Serious Delinquencies Nearing Decade Low
HousingWire, July 12, 2016--Lane, Ben
Problem mortgages nearing pre-crisis lows.
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CityPlace Defaults on $150 Million Mortgage
Palm Beach Post (Fla.), July 12, 2016--Ostrowski, Jeff
Largest default in years.
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Focus on Low-Mod Mortgages Proves Profitable for This Budding Bank
National Mortgage News, July 12, 2016--Sinnock, Bonnie
Bank finds profitability in niche product.
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FHFA’s Watt: Congress Needs to Handled Housing Finance Reform
HousingWire, July 12, 2016--Lane, Ben
FHFA Director responds to MBA/trade group letter, Congress concerns.
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