Although the Terrorism Risk Insurance Act--which provides a valuable federal backstop to insurance claims involving terrorism acts--is not set to expire until December 2020, the Senate Banking Committee is bringing up its reauthorization well ahead of time, an action the Mortgage Bankers Association welcomes.
Administration Establishes Council on Affordable Housing
President Trump yesterday signed an Executive Order establishing the White House Council on Eliminating Barriers to Affordable Housing, and named HUD Secretary Ben Carson as its chair.
Searching for a Solution to Rental Affordability Challenges
The Harvard University Joint Center for Housing Studies' State of the Nation's Housing report said overall rents rose at a 3.6 percent annual rate in early 2019, twice the pace of overall inflation.
CFPB Extends Comment Period for HMDA Proposed Rulemakings
The Consumer Financial Protection Bureau yesterday extended the comment period on its Advance Notice of Proposed Rulemaking relating to the Home Mortgage Disclosure Act.
Black Knight: May ARM Prepayments Highest Since 2007
Black Knight, Jacksonville, Fla., said lower interest rates and the spring home buying seasons have led to overall prepayment activity more than doubling over the past four months to the highest level seen since late 2016.
Rapidly Growing Metros Losing Affordable Housing at Rapid Rate
The fastest-growing cities in the United States saw substantial declines in affordable housing units between 2010 and 2017, said Freddie Mac, McLean, Va.
Defect Risk Declines for 2nd Straight Month
First American Financial Corp., Santa Ana, Calif., said its May Loan Application Defect Index fell by 5.5 percent from April, the second consecutive monthly decline.
Fitch: Caution Despite Strong Alt-Doc Mortgage Performance
Fitch Ratings, New York, issued a report saying although alternative document residential mortgage loan products introduced in the US after the financial crisis have performed better than expectations, it maintain a cautious approach to these loans because of their limited history.
MBA Risk Management, QA and Fraud Prevention Forum in Chicago Sept. 15-17
The Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum takes place Sept. 15-17 at the Sheraton Grand Chicago.
MBA Condominium Lending Workshop in D.C. July 18
The Mortgage Bankers Association's annual Condominium Workshop takes place Thursday, July 18 at the Marriott Marquis in Washington, D.C.
Push to Overhaul Fannie, Freddie Nudges Up Mortgage Costs
Wall Street Journal, June 25, 2019--Andrew Ackerman, Ben Eisen (subscription)
How Much Mortgage Debt Does Your State Have? Two States Are Far and Away Above The Rest
USA Today, June 27, 2019--Grant Suneson
Mortgage industry Calls for Servicing Regulation Uniformity in New York
National Mortgage News, July 1, 2019--Elina Tarkazikis (subscription)
Bill Eliminating VA Loan Cap Signed Into Law
HousingWire, June 26, 2019--Jessica Guerin
Cerberus Sold the First Post-Crisis Mortgage Bond Backed by Home Equity Lines
Bloomberg, June 26, 2019--Adam Tempkin
FASB to Consider Delaying CECL Deadlines for Smaller Firms
American Banker, June 27, 2019--John Heltman, John Reosti (subscription)
Home Flipping's Shadowy Ties to Mortgage Fraud
Forbes, June 27, 2019--Francisco Alvarado
OCC: Borrowers Keep Getting Better at Paying Off Their Mortgages
HousingWire, June 27, 2019--Jessica Guerin
White House Considers Capital Gains Tax Break That Would Benefit Wealthy
Bloomberg, June 27, 2019--Saleha Mohsin
White House Predicts Deregulation Will Boost Household Incomes
Wall Street Journal, June 28--Josh Mitchell (subscription)
FASB Chair Defencs CECL: 'The Benefits Justify the Cost'
American Banker, June 30, 2019--John Heltman (subscription)
Your Phone Could Help Make Mortgage Bond Traders Miserable
Bloomberg, July 1, 2019--Chrisopher Maloney
Customers in Pa. Warns of Earnings Hit After Mortgage Client Shuts Down
American Banker, July 1, 2019--Ken McCarthy (subscription)