The Lede
News and Trends
Fitch: U.S. Banks Trimming Mortgage Servicing Staff as Performance Improves
Full-Time Servicing Staff Half of 2014 Levels
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Q&A with Mark Damon of SWBC on Evolution of Mortgage Collections
'The mortgage collections industry is forced to evolve.'
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First American Acquires TD Service Financial Corp.
Longtime TD Co-Chairs Dale, Sandi Dykema Announces Retirement
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MBA News
MBA Education Ten Ratios Every Mortgage Banker Must Know Webinar Oct. 18
Learn Secrets of Top-Performing Mortgage Bankers
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MBA Stress Testing for Mid-Size Banks Workshop Oct. 12
Understand, Implement Stress-Testing Strategies for Your Company
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Top National News
Compliance, Security and Mobile Top Bank’s Tech Spending List
American Banker, Oct. 5, 2016--Barba, Robert
As chief information officers plot their budgets for 2017, they have a lot to consider.
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Servicers Face New Requirements on NY Vacant REOs
Mortgage Daily, Oct. 10, 2016--Marks, Alfred; Parlapiano, Christina; Neuner, Jennifer
The authors, with Day Pitney LLP, say new law in New York imposes new duties on mortgage servicers or their agents regarding abandoned foreclosed properties.
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Trulia: Homeowners Dropping Property Insurance as Prices Rise
HousingWire, Oct. 10, 2016--Ramirez, Kelsey
Southeast sees highest rates in the nation.
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CFPB Will Allow New Fannie, Freddie Mortgage Application
HousingWire, Oct. 10, 2016--Ramirez, Kelsey
Allows more race-based questions beginning 2017.
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These Government-Approved High-Interest Green Loans are Turning Mortgage Lending Upside Down
MarketWatch, Oct. 10, 2016--Riquier, Andrea
"This is not sound lending practice," said Pete Mills, who heads residential policy for the Mortgage Bankers Association, on the FHA Property Assessed Clean Energy program, or PACE.
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All Signs Point to FHFA Raising Conforming Loan Limits in 2017
HousingWire, Oct. 7, 2016--Swanson, Brena
According to the Mortgage Bankers Association, in the second quarter the FHFA's house price index was almost identical to the level of the index in third quarter 2007.
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Is It Now Time to Finally Raise Conforming Loan Limits?
HousingWire, Oct. 7, 2016--Swanson, Brena
Mat Ishbia of United Wholesale Mortgage suggests market could handle an increase of up to $12,000.
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Why Cutting the Mortgage Interest Deduction Is No Longer a Third Rail
National Mortgage News, Oct. 7, 2016--Finkelstein, Brad
Mortgage Bankers Association CEO David Stevens noted lower-income borrowers do not itemize on their taxes and can't take advantage of the deduction.
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A Simpler Path to Housing Reform?
National Mortgage News, Oct. 6, 2016--Collins, Brian
Former Federal Housing Finance Agency head Ed DeMarco favors abanondoning GSE common securitization platform to use Ginnie Mae platform instead; MBA President and CEO David Stevens said proposal "broadens the debate as new Congress, Administration comes on board in January.
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Court Orders U.S. to Release Documents on Mortgage Giants
New York Times, Oct. 4, 2016--Morgenson, Gretchen
Federal judge said goverment improperly withheld documents from investors who sued goverment over decision to seize profits of Fannie Mae, Freddie Mac.
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New Foreclosure Statutes in New York Threaten the Process
MortgageOrb, Oct. 5, 2016--Bergman, Bruce
Mortgage servicing in New York has always been a challenge. Now it will be worse--all as a result of a new omnibus foreclosure law effective as of Dec. 20.
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Nearly $1 Billion in Distressed GSE Mortgages Sold
Mortgage Daily, Oct. 5, 2016
The transaction, which was facilitated through the auction process, involves 5,364 mortgages that are deeply delinquent and non-performing.
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The Executive Behind Freddie Mac’s Mortgage Innovation
HousingWire, Oct. 5, 2016--Swanson, Brena
Freddie Mac Chief Information Officer Robert Lux took the company and transformed it to create a better housing and finance system through technology innovation.
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Run from PACE Loans…RUN
National Real Estate Post, Oct. 5, 2016
In video, former mortgage executive Frank Garay says Property Assessed Clean Energy loans are risky and disruptive to mortgage process.
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Old CMBS Bubble Is Resurfacing
National Mortgage News, Oct. 4, 2016--Fest, Glen; Bisby, Allison
More than $100 billion in securitized commercial mortgages come due soon, many of them still underwater.
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Sharp Drop in Annual Mortgage Refinances Predicted
Mortgage Daily, Oct. 4, 2016
iEmergent says total 2016 originations expected to be $1.8 trillion.
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Harlem Clergy Enter Mortgage-Reform Fray, Saying ‘Our Loans Matter’
Politico, Oct. 4, 2016--Woellert, Lorraine
Dozens of New York Baptist ministers have joined the fray over Fannie Mae and Freddie Mac, saying efforts to privatize the mortgage giants could deliver a financial blow to communities of color in a time of growing wealth inequality.
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