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Radian: Here’s Where our Federal Mortgage Insurance Competition is Growing
HousingWire, Feb. 28, 2017--Jacob GaffneyIn a 10-K filing with the Securities and Exchange Commission yesterday, Radian reports that its federal mortgage insurance competition is growing.
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Consumer Bankruptcies Up But Off from Year Prior
Mortgage Daily, Mar. 6, 2017Including commercial and non-commercial activity, there were 58,336 debtors who filed a new case with U.S. Bankruptcy Courts in February.
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How Liquidity Promotes Opportunity, Yield and a Greater Public Good
National Real Estate Investor, Mar. 6, 2017--Gary BechtelThese are still worrisome times for many in real estate, and while traditional bank lenders remain constrained by the regulations enacted by Dodd-Frank and Basel III, alternative lenders in large part have been filling the void and providing the liquidity this industry needs to stay afloat.
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Once-Skittish Investors Warming Up to Ginnie Mae Servicing Rights
National Mortgage News, Mar. 6, 2017--Bonnie Sinnock (subscription)Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.
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United States Flips Sides, Supports PHH in Case Against CFPB
HousingWire, Mar. 6, 2017--Brena SwansonThe United States revealed last Friday that it now supports PHH in its landmark case against the Consumer Financial Protection Bureau, switching sides from its original stance back in December.
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Agency MBS Issuance Sinks to 12-Month Low
Mortgage Daily, Mar. 1, 2017Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae was $94.316 billion in February. That turned out to be the slowest month for securitizations of agency home loans since February 2016.
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What to Do When a Home-Equity Line of Credit Comes Due
Wall Street Journal, Mar. 1, 2017--Robyn A. Friedman (subscription)Many homeowners took out home-equity lines of credit during the housing boom, when property values soared. Now the typical 10-year term on these loans is expiring, and many people will be surprised that their monthly payments are about to go up-some, substantially.
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CFPB Mortgage Complaints Hold Steady
DSNews, Mar. 1, 2017--Aly J. YaleThe volume of mortgage-related complaints received by the Consumer Financial Protection Bureau is holding steady, according to the agency's Monthly Complaint Report.
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Why Lessons from Wingspan’s Demise Still Matter Today
National Mortgage News, Mar. 1, 2017--Bonnie Sinnock (subscription)It's been almost two years since Dallas-based Wingspan declared bankruptcy and the case has yet to be fully resolved. Now, with interest rates and home prices on the rise, the market is shifting yet again. What could be fixed at Wingspan--and what couldn't--remain good object lessons about the opportunities and risks that surface when economic cycles turn.
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Vote on GOP Dodd-Frank Reform Bill Likely Delayed Until Summer
National Mortgage News, Mar. 1, 2017--Ian McKendry (subscription)A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally anticipated due to limited floor time and other legislative priorities such as health care reform likely to take precedent.
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No Change to Mortgage Interest Deduction in Trump Tax Plan: Mnuchin
Reuters, Mar. 1, 2017--Eric BeechU.S. Treasury Secretary Steven Mnuchin said on Wednesday the Trump administration's tax reform plan will not change the deductibility of mortgage interest and charitable contributions.
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Massive Single-Family Rental Merger: Tricon Capital to Acquire Silver Bay Realty Trust for $1.4 Billion
HousingWire, Feb. 28, 2017--Ben LaneIn a deal that will shake up the single-family rental industry, Tricon Capital Group announced this week that it plans to acquire Silver Bay Realty Trust in a $1.4 billion deal that will create one of the country's largest operators of single-family rental homes.
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Wells Fargo’s 10-year Goal: $60B in Loans to Black Homeowners
National Mortgage News, Feb. 28, 2017--Andy Peters (subscription)Wells Fargo said it plans to hire scores of minority salespeople, step up lobbying for policies to boost homeownership and form community partnerships to accelerate mortgage lending to black consumers.
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More Homeowners Cashing in on Their New Housing Wealth
CNBC, Mar. 3, 2017--Diana Olick Homeowners are opening their favorite piggy bank again--their homes.
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GOP Switches Tactics in ‘War’ Against CFPB
National Mortgage News, Mar. 3, 2017--Kate Berry; Ian McKendry (subscription)Republicans have opened multiple fronts against the agency, undertaking separate efforts through obscure legislative processes to cut its funding and roll back past and future rules, while also considering a larger bill that would effectively gut the agency entirely.
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CFPB Director Richard Cordray Speaks Out About His Controversial Role
HousingWire, Mar. 2, 2017--Brena Swanson"The independence of a consumer watchdog is very much worth fighting for," Cordray told CNBC.
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CMBS Delinquency Rate on the Rise
National Mortgage Professional, Mar. 2, 2017--Phil HallThe delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities reached 5.31 percent in February, up 13 basis points from January, Trepp reported.
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Offices Drive CMBS Delinquency to 18-Month High
Mortgage Daily, Mar. 2, 2017Deterioration in office loan performance droved delinquency on securitized commercial real estate loans to an 18-month high.
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