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Updated: 19 min 37 sec ago

Trump makes it official, taps Powell to head Federal Reserve

Tue, 11/07/2017 - 08:00
Fed Gov. Jerome Powell, who was first nominated to the central bank by former President Obama, is widely seen as a continuity choice.

Housing groups pan GOP swipe at mortgage deduction

Mon, 11/06/2017 - 16:36
Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries.

Fannie Mae keeping an eye on servicers' hurricane response

Mon, 11/06/2017 - 13:33
Fannie Mae servicers are facing pressure from the recent hurricanes, but so far are bearing up under the strain.

Nationstar profit blunted by MSR write-down

Mon, 11/06/2017 - 13:33
Nationstar Mortgage Holdings posted net income of $7 million for the third quarter, its first under the new Mr. Cooper consumer-facing brand.

Attacking the zombies across Western New York

Mon, 11/06/2017 - 10:29
As is the case with most communities across Western New York, Lockport has its share of "zombie" properties.

Connecticut lone state to see improvement in mortgage defects

Mon, 11/06/2017 - 10:29
Connecticut was the lone state in the nation in September to see a decline in borrowers misrepresenting facts on mortgage loan applications.

Mortgage rates hold steady as 10-year yield drops

Mon, 11/06/2017 - 10:29
Mortgage rates were unchanged or up slightly this week even as the 10-year Treasury yield retreated from its recent gains, according to Freddie Mac.

Ocwen earnings down on pretax origination losses

Mon, 11/06/2017 - 10:29
Ocwen Financial Corp. lost $6.1 million in the third quarter, as pretax losses from its origination business outweighed any profits generated from the servicing side.

Tax bill is said to cut mortgage deduction for new home sales

Mon, 11/06/2017 - 10:29
But the home mortgage deduction for existing mortgages would be preserved, according to a two-page outline of the House GOP tax reform bill. Meanwhile, homebuilder stocks initially plunged.

LoanDepot, OfferPad form joint venture for home buyer bridge loans

Mon, 11/06/2017 - 10:29
A joint venture between loanDepot and OfferPad will broker loans for consumers who need financing to bridge gaps between the sale of one property and the purchase of another.

Ocwen replacing embattled servicing system with Black Knight's MSP

Fri, 11/03/2017 - 14:36
Ocwen Financial Corp. will move its servicing portfolio to Black Knight's LoanSphere MSP system of record, following years of regulatory scrutiny of its existing technology provided by Altisource Portfolio Solutions.

Housing finance reform not happening soon: Trump official

Fri, 11/03/2017 - 14:36
Mark Calabria, the chief economic adviser to Vice President Mike Pence, said the administration is focused for now on more pressing issues than GSE reform, including addressing housing damage from recent hurricanes.

Trump signs resolution killing CFPB arbitration rule

Fri, 11/03/2017 - 14:36
With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

Success of CFPB data-sharing guidance relies on how it is enforced

Fri, 11/03/2017 - 14:36
Following the release of the nonbinding statement of policy, regulators still have an important role to play in making sure the industry achieves an effective data-sharing model.

Booting Detroit residents out of foreclosed homes must end

Fri, 11/03/2017 - 11:32
Aside from shutting off water to Detroit residents, no public policy draws so much criticism as the annual Wayne County auction of tax-foreclosed properties.

Fannie Mae clarifies recent payment exclusion for DTI

Fri, 11/03/2017 - 11:32
Fannie Mae is allowing in some situations where mortgage payments are made by someone other than the borrower for the full monthly housing expense to be excluded from debt-to-income calculations.

San Diego home price increases outpace nation, most U.S. cities

Fri, 11/03/2017 - 11:32
San Diego had the third highest annual home price increase in the nation in August, a distinction not reached since 2014.

Community bank small-business loans are undercounted: FDIC survey

Fri, 11/03/2017 - 11:32
Call-report data on commercial and industrial loans does not fully capture small-business lending by smaller institutions, a recent FDIC survey suggests.

Hurricanes make housing shortage worse in Central Florida

Fri, 11/03/2017 - 08:30
Orlando theme-park worker Daisy Hernandez was struggling to find an affordable rental even before Hurricane Irma squeezed Central Florida housing options and Hurricane Maria pushed Puerto Ricans to the mainland.

Invitation Homes refinancing pair of 2014 single-family rental deals

Fri, 11/03/2017 - 08:30
A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.