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Industry News
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Featured Items
- MBA: Multifamily Lending Hit Record High in 2016
- The multifamily lending sector ended 2016 on an eight percent year-over-year increase, setting a new peak with nearly 3,000 different lenders originating $269.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association. learn more
- Mortgage Delinquencies Experience First Increase in Seven Years
- September saw a rise in mortgage delinquencies, mainly as a result of hurricane impact, to 4.40 percent according to Black Knight. learn more
- Mortgage Origination Outlook Boosted By $249 Bil
- Fannie Mae upped its forecast for overall residential loan production by $249 billion. learn more
- Dodd-Frank Reform Effort Grinds on Slowly
- The Trump administration appears committed to significantly unwinding many of the rules imposed on banks and Wall Street after the recession. learn more
- Mortgage Guidelines Could be Twice as Loose and it Still Wouldn't be 2007 Again
- Significant space remains to safely expand the credit box. learn more
- House Committee Passes Regulatory Relief Bills
- The House Financial Services Committee moved forward two bills on Thursday aimed at providing clarity and regulatory relief for real estate lenders. learn more
- Fed on Track to Raise Rates Despite Weak Inflation, Minutes Show
- Most Federal Reserve officials believed at their meeting last month that they likely would raise short-term interest rates again this year, though some said their decision would hinge on whether inflation picks up in coming months. learn more
- Bipartisan Push Begins in Congress to Change Parts of CFPB's Trid Rule
- Congressmen from opposite sides of the political aisle are partnering to push for a change to the Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosure rule. learn more
- Mortgage Rates Hold Steady But Are Trending Higher
- Mortgage rates barely budged this week as the impact of the recent hurricanes began weighing on the economy. learn more
- Weekly Mortgage Applications Stall Along with Rates and Home Sales
- Mortgage application volume slipped 0.4 percent last week, the Mortgage Bankers Association said. Volume now stands 24 percent lower than a year ago. learn more
- Do Regulations Really Increase New Home Prices by 25 Percent?
- The Internet, media reports and congressional testimony are always rife with rumors and tall tales. But what about the claim that government regulations increase the cost of new home construction by 25%? learn more
- House Passes Flood Insurance Bill, Senate Says No Thanks
- The House passed a bill Thursday to make it easier for homeowners to obtain private flood insurance policies not provided directly through the National Flood Insurance Program. learn more
- Janet Yellen Says Fed Plans to Keep Raising Rates
- Federal Reserve Chairwoman Janet Yellen said on Tuesday the Fed plans to continue raising its benchmark interest rate despite some uncertainty about the reasons that inflation had weakened in recent months. learn more
- Here's What the Housing Industry Expects from Trump's Tax Plan
- This week, President Donald Trump and Republican leaders plan to release their tax plan which could bring major changes to the housing industry, if acted upon. learn more
- Cordray Lied, Botched Wells Investigation: GOP Report
- National Mortgage News, Sept. 19, 2017--Kate Berry, Ian McKendry learn more
- Equifax Breach Sparks Congressional Free-for-All
- A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax's megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution. learn more
- Seven aftershocks of the Equifax breach: What bankers need to know
- One lawsuit has already been filed against Equifax in the wake of its massive security failure. learn more
- House to Consider Bill to Change TRID Rules
- The new bill is called the "TRID Improvement Act of 2017," and has yet to be officially introduced into the House, but the bill was discussed on Capitol Hill on Thursday during a meeting of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee. learn more
- Lower Mortgage Rates Push More Borrowers to Refinance, as Harvey Mucks up the Data
- Mortgage applications finally moved slightly higher last week, spurred by refinancers, as interest rates moved decisively lower. learn more
- At Least 100,000 Homes Were Affected By Harvey. Moving Back In Won't Be Easy
- The White House estimates about 100,000 houses were affected by Hurricane Harvey. learn more
- Mortgage Rates Continue their Four-Month Slide
- Rates remained low last week as tension between North Korea and the global community continued to mount, fueling a flight to quality and keeping investors in safer U.S. Treasuries," said Joel Kan, MBA economist. learn more
- Harvey Hits Mortgages as Flood-Stricken Homeowners Are Unlikely to Pay
- Fannie Mae, Freddie Mac and the FHA announced they will offer forbearance for at least 90 days to borrowers in the Houston area. learn more
- Harvey Flooding Focuses Attention on Troubled Flood Insurance Program
- Hurricane Harvey's ghastly flooding in the Houston area is sure to focus political attention on the National Flood Insurance Program, a controversial government benefit that makes home ownership affordable to many in south Louisiana. learn more
- The Housing Industry Still Hasn't Realized It's Building Too Many Homes for Rich People
- There are only so many people in the country with good credit and lots of cash sitting around. And this week, we got evidence that one of America's largest industries may be running into trouble because its products appeal only to the upper crust. learn more
- CFPB gives small banks, CUs a break on HMDA reporting
- Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs the preceding year, the bureau said. learn more
- Mortgage Bankers Predict 3 Quarters of Declines
- After peaking in the second quarter, the Mortgage Bankers Association predicted loan originations will decline each of the following three quarters. learn more
- MBA President Calls for Action on National Flood Insurance Program
- In a recent LinkedIn post, Mortgage Bankers Association President and CEO David Stevens called on mortgage and real estate professionals to voice their opinions to the House of Representatives on the upcoming expiration of the National Flood Insurance Program. learn more
- Fed Minutes: Central Bank Split Over Path of Rate Hikes
- A fissure appears to be developing at the Federal Reserve over when to raise interest rates. learn more
- U.S. Home Refinancing Applications Rise to a Near Two-Month High: MBA
- U.S. applications for home refinancing climbed to their highest level in nearly two months last week with their share of total housing loan requests reaching the biggest since February, as home borrowing costs fell, the Mortgage Bankers Association said on Wednesday. learn more
- S&P/Experian: Mortgage Default Rate at Lowest Level in a Decade
- Despite a slight increase in July, the default rate for first mortgage loans still sits at its lowest point in the last 10 years, according to the latest S&P/Experian Consumer Credit Default Indices. learn more
- Freddie Mac Economist: If Housing is Affordable, Why is Homeownership Out of Reach?
- Despite housing affordability being near-record highs, homeownership still feels completely out of reach for many people, Freddie Mac Vice President and Chief Economist Sean Becketti said. learn more
- MBA President Stevens Defends Need for Multiple Guarantors in GSE Reform
- As the list of people commenting on how to execute GSE reform continues to grow, Mortgage Bankers Association President and CEO David Stevens, CMB, highlighted one of MBA's main points and defended the need for multiple guarantors in the new system. learn more
- Tighter Underwriting Drives Down Delinquencies in May
- The mortgage delinquency rate reached its lowest point in nearly a decade in May due to tighter underwriting, according to CoreLogic. learn more
- Trump Administration Weighs Slashing Mortgage Deduction
- Despite promises from the Trump administration in April that it would "protect the homeownership ... deductions," multiple sources tracking tax reform said that the cap on the mortgage interest deduction--currently set at the interest on up to $1 million of mortgage debt--could be lowered in tax reform. learn more
- Commercial Property Prices Expected to Moderate
- The Mortgage Bankers Association recently released its first-quarter data book, which charts trends in commercial real estate. learn more
- Lowest Mortgage Rates in a Month Barely Boost Weekly Applications...
- Total mortgage application volume rose just 0.4 percent seasonally adjusted compared with the previous week, according to the Mortgage Bankers Association. learn more
- House Revokes New CFPB Arbitration Rule
- The House passed a "resolution of disapproval" to revoke a controversial new rule by the Consumer Financial Protection Bureau that bans companies from using mandatory arbitration clauses. learn more
- CFPB Loses Court Battle over RESPA Violations
- A federal district court in Kentucky handed a victory to a Louisville, Kentucky law firm, Borders & Borders, after a long-standing legal battle with the Consumer Financial Protection Bureau over alleged Real Estate Settlement Procedures Act violations. learn more
- Fannie Mae DTI Increase Could Add 95,000 Borrowers Each Year
- As the GSEs seek to ease access to credit and allow more homebuyers into the market, Urban Institute pointed out one change that could allow nearly 100,000 new homebuyers to qualify for a mortgage each year. learn more
- Student Debt Is a Major Reason Millennials Aren't Buying Homes
- College tuition hikes and the resulting increase in student debt burdens in recent years have caused a significant drop in homeownership among young Americans, according to new research by the Federal Reserve Bank of New York. learn more
- Mortgage Lending Takes a Bite Out of Bank Earnings Despite Brisk Spring Buying Season
- Mortgage revenues fell 26% compared to a year ago at JPMorgan, 52% at Citigroup Inc. and was down 19% at Wells Fargo. learn more
- Mortgage Rates Soar to Highest Level Since Early May
- "Rates continued to increase last week given increasing evidence that the Fed and other central banks are more likely to raise rates given the pickup in economic growth in their respective economies," said Michael Fratantoni, Mortgage Bankers Association chief economist. learn more
- Ellie Mae: Homebuying Millennials Not Motivated by Starting Families
- Millennials are entering the housing market, many for the first time, and fighting over the limited housing inventory available, according to May's Millennial Tracker report from Ellie Mae. learn more
- Banks and Credit Card Companies Can't Try to Stop You From Joining a Class Action Lawsuit--For Now
- Consumers had good reason to celebrate Monday after the Consumer Financial Protection Bureau, after years of preparation, issued a rule blocking credit card companies, banks and other financial firms from putting roadblocks in the way of customers joining class-action lawsuits. learn more
- Treasury Quietly Looking at Revamping CRA
- The Treasury Department is embarking on an effort to revise the implementation of the Community Reinvestment Act, a law many community groups say is out of step with modern banking practices and that institutions say has devolved into a compliance exercise. learn more
- CFPB Finalizes TRID Updates
- The Consumer Financial Protection Bureau finalized updates to the TILA-RESPA Integrated Disclosure rule, also known as the "Know Before You Owe" rule, with amendments that the agency said were "intended to formalize guidance in the rule, and provide greater clarity and certainty." learn more
Legislative Issues Preview Guide- This publication provides a comprehensive summary of banking issues expected to be debated by the state legislature in its upcoming session. learn more
- Legislative Issues Preview Guide
- This publication provides a comprehensive summary of banking issues expected to be debated by the state legislature in its upcoming session. learn more
- Higher Mortgage Rates that Many Expected in Trump Era Haven't Materialized
- In the months after the election there was an expectation the Trump administration would be able to enact tax cuts and infrastructure spending," said Aaron Terrazas, senior economist at the real estate website Zillow. learn more
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