Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $285 on each loan they originated in the first quarter, up from a reported loss of $200 per loan in the fourth quarter, the Mortgage Bankers Association reported.
MBA Releases Lender Disclosure Template for ARM Borrowers Ahead of LIBOR Sunset
With discontinuation of the London Interbank Offered Rate likely ahead, the Mortgage Bankers Association yesterday released a disclosure template for residential mortgage lenders to share with consumers interested in applying for an adjustable-rate mortgage.
Commercial/Multifamily Mortgage Debt Outstanding Approaches $3.5 Trillion
Commercial/multifamily mortgage debt outstanding rose by 1.3 percent ($45.4 billion) in the first quarter, the Mortgage Bankers Association reported this morning.
1Q Commercial, Multifamily Mortgage Delinquencies At Record Lows
Commercial and multifamily mortgage delinquencies fell to near-record lows in the first quarter, the Mortgage Bankers Association reported.
FCC Votes to Allow Voice Service Providers to Block Robocalls
The Federal Communications Commission yesterday approved a Declaratory Ruling affirming voice service providers may, as a default, block unwanted calls known as "robocalls."
House Appropriations Committee Approves Fiscal Year 2020 T-HUD Funding Bill
The House Appropriations Committee yesterday approved the Fiscal Year 2020 Transportation, Housing and Urban Development and Related Agencies bill, known as T-HUD, by a 29-21 vote.
Senate Passes Bill Providing VA, Ginnie Mae Loan ‘Seasoning' Fix
The Senate yesterday by unanimous consent approved a bill that would close a loophole refinanced loans must meet to be eligible for the VA guaranty and for Ginnie Mae pooling.
Ginnie Mae Publishes 2020 Progress Update
Ginnie Mae, Washington, D.C. yesterday released a progress update to its Ginnie Mae 2020 white paper, detailing strides the agency has made toward modernizing its mortgage-backed securities platform, enhancing counterparty risk management and fostering improvements to its program.
1Q Negative Equity Share Falls to 4.1%
CoreLogic, Irvine, Calif., said 17,000 residential properties regained equity in the first quarter, bringing the total number of mortgaged homes in negative equity to 2.2 million, or 4.1 percent of all mortgage properties.
U.S. Home Flipping Rate at 9-Year High
ATTOM Data Solutions, Irvine, Calif., said even though overall home flipping activity fell in the first quarter, the rate of flipped home sales reached its highest rate since 2010.
Learning from CMBS Losses
One of the few positive implications of incurring losses on 12,000-plus loans is that one can extract some lessons about commercial real estate lending from the experience, said Brian Olasov, Executive Director with Carlton Fields, New York.
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.
IMBs Taste Q1 Profitability
National Mortgage Professional, June 6, 2019--Phil Hall
To Stop Robocalls, Parties Need to Understand Who Is a Robocaller
Wall Street Journal, June 9, 2019--Sara Krouse (subscription)
MBA Creates Libor Discontinuation Notice for Residential Lenders
National Mortgage News, June 6, 2019--Brad Finkelstein (subscription)
Duo on House Banking Panel Say GSE Reform Should Top Agenda
National Mortgage News, June 4, 2019--Hannah Lang (subscription)
Rewrite of Bank Rules Makes Little Progress, Frustrating Republicans
Wall Street Journal, June 10, 2019--Andrew Ackerman, Gabriel T. Rubin (subscription)
Mnuchin Dashes Investor Dreams of Quick Fannie-Freddie Windfall
Bloomberg, June 10, 2019--Saleha Mohsin, Austin Weinstein
Can Fannie, Freddie be Overhauled Without Congress?
National Mortgage News, June 7, 2019--Hannah Lang (subscription)
Freddie Mac Targeting ESG Investors With Green Mortgage Bonds
Bloomberg, June 10, 2019--Adam Tempkin
Why Consumers Just Can't Stop Complaining About Credit Bureaus
American Banker, June 4, 2019--Penny Crosman (subscription)
CMBS Delinquency Rate Continues to Plunge
National Mortgage Professional, June 5, 2019--Phil Hall
Ocwen All But Drops Ocwen Name, Will Operate as PHH Mortgage and Liberty Home Equity Solutions
HousingWire, June 10, 2019--Jessica Guerin
U.S. Home Values Reach a Record High of $26.1 Trillion in Q1, Fed Says
HousingWire, June 6, 2019--Kathleen Howley
FHA is Increasing Lending to Riskier Borrowers
HousingWire, June 7, 2019--Ben Lane
How Nonbanks' Rising Government Mortgage Market Share Helps Ginnie Mae
National Mortgage News, June 10, 2019--Bonnie Sinnock (subscription)