FHA proposed new guidelines on Loan-Level and Annual Certifications, as well as a new Defect Taxonomy. The House Committees on Financial Services and Veterans' Affairs both passed the Protect Affordable Mortgages for Veterans Act of 2019, a technical correction to allow a specific cohort of VA "orphan" loans to be pooled into Ginnie Mae securities.
Tech in the CRE Space--a Talk with Bruce Oliver
Mortgage Media, May 10, 2019
HUD Says 55,000 Children Could Be Displaced Under Trump Plan to Evict Undocumented Immigrants
Washington Post, May 10, 2019--Tracy Jan
Fannie and Freddie Back More Mortgages of Those Deeply in Debt
Wall Street Journal, May 13, 2019--Ben Eisen (subscription)
As CFPB Mulls Privatizing Database, Consumer Complaints Mount
American Banker, May 12, 2019--Kate Berry (subscription)
Crapo, Brown Probe Facebook over Financial Data Collection
American Banker, May 10, 2019--Neil Haggerty (subscription)
Ginnie Mae's MBS Issuer Shift Creates 'Greater Risk of Loss:' GAO
National Mortgage News, May 10, 2019--Paul Centopani (subscription)
Home Inventory Was Flat in Q1 as Listings Lingered on Market
HousingWire, May 10, 2019--Kathleen Howley
Equifax Sets Aside Nearly $700 Million for Expected Data Breach Payouts
HousingWire, May 10, 2019--Ben Lane
Zillow Mortgage Unit Takes a Loss as Expenses Outweigh Strong Demand
National Mortgage News, May 10, 2019--Brad Finkelstein (subscription)
Today's New Buyers Want Smaller Houses, Closer In
UExpress, May 10, 2019--Lew Sichelman
MBA Chart of the Week: Mortgage Credit Availability Index
The supply of mortgage credit continues to grow, as measured by MBA's Mortgage Credit Availability Index, which is a measure of both the risk and quantity of loan programs that wholesale and broker investors are willing to purchase.
1Q Luxury Home Sales Down 16%
Sale prices for the top 5% of homes in the market fell nationwide for the first time in nearly three years, said Redfin, Seattle.
Opportunity Zone Activity Likely to Surge
The Treasury Department released its long-awaited Opportunity Zone program guidance last month, which JLL, Chicago, said will make it easier for fund managers to raise capital and for developers to begin construction.
Dealmaker: Greystone Provides $50M for Mixed-use, Multifamily
Greystone, New York, provided $49.9 million in HUD-insured construction financing for assets in Texas and Michigan.
MBA Document Custody Workshop June 20
The Mortgage Bankers Association's popular Document Custody Workshop takes place Thursday, June 20 at the Ritz-Carlton Tysons Corner in McLean, Va.
MAA Action Week May 13-17
The Mortgage Action Alliance, MBA's free grassroots lobbying network, will hold its fourth annual Action Week May 13-17.
MBA Education School of Mortgage Banking III in D.C. June 11-14
MBA Education presents its School of Mortgage Banking Course III June 11-14 at MBA headquarters in Washington, D.C.