Feed aggregator

People on the move: Dec. 15

National Mortgage News - 58 min 12 sec ago
Mortgage industry hiring and new job appointments for the week ending Dec. 15.

Flipping homes for big profits is getting harder in Tampa Bay

National Mortgage News - 58 min 12 sec ago
Tampa Bay has seen two booms in house flipping — one in the mid 2000s, when prices appeared on a steadily upward trajectory and again from 2011 to 2014, when the market was flooded with cheap foreclosures.

PHH is first servicer fined under New York's zombie property law

National Mortgage News - 58 min 12 sec ago
PHH Mortgage was the first mortgage servicer to be fined by the New York Department of Financial Services for failing to maintain a "zombie" property.

Philadelphia City Council tackles delinquent tax collection plan

National Mortgage News - 58 min 12 sec ago
The council is exploring legislation to collect around $492 million in delinquent real estate taxes that could aid the city’s school district.

Median down payment hits new high in third quarter

National Mortgage News - 58 min 12 sec ago
The median down payment for single-family homes purchased with financing has reached a new high in the third quarter, according to Attom Data Solutions.

San Francisco Mayor Ed Lee's unfinished business — housing

National Mortgage News - 58 min 12 sec ago
The tech boom that Mayor Ed Lee embraced ensured that the man who began his career fighting for poor tenants ended up presiding over a city known for some of the nation's most unaffordable housing and pervasive homelessness.

Investors propel post-Harvey housing rally

National Mortgage News - 58 min 12 sec ago
It was like a scene from the pre-oil-bust housing boom: A steady stream of prospective buyers trekked through an open house last Saturday in a family neighborhood in northwest Houston. Their cars were parked up and down the block.

Mortgage rates already priced in FOMC increase

National Mortgage News - 58 min 12 sec ago
The mortgage market had already priced the Federal Open Market Committee's 25-basis-point hike into its rates so there was little change, according to Freddie Mac.

Macerich taps CMBS to cash $79M out of Santa Monica mall

National Mortgage News - 58 min 12 sec ago
A $300 million, interest-only first mortgage that the REIT obtained from Wells Fargo this month is being used as collateral for a transaction called WFCM 2017-SMP.

Wildfires add to Southern California housing woes

National Mortgage News - 58 min 12 sec ago
The Southern California wildfires are causing additional inventory shortages in what is already a tight housing market, Redfin said.

Mortgage trade group asks CFPB to delay HMDA rule

National Mortgage News - 58 min 12 sec ago
The Community Home Lenders Association wants Mick Mulvaney, the acting director of the CFPB, to delay implementation of the Home Mortgage Disclosure Act that goes into effect on Jan. 1.

FHA condo loans slipped under Obama. Trump’s HUD eyes a comeback

National Mortgage News - 58 min 12 sec ago
The Obama administration had tried to ease restrictions on the Federal Housing Administration's condominium program, but the agency under President Trump is seen as moving more aggressively.

Heartland in Iowa to enter west Texas with First Bank acquisition

National Mortgage News - 58 min 12 sec ago
The company will pay $186 million for First Bank Lubbock in a deal that also includes mortgage unit PrimeWest Mortgage.

Refi application share reaches highest point since January

National Mortgage News - 58 min 12 sec ago
The share of new refinance mortgage applications reached its highest point since January, but overall activity fell compared with the previous week, according to the Mortgage Bankers Association.

Real estate market outlook up despite supply constraints

National Mortgage News - 58 min 12 sec ago
Supply constraints tempered real estate and title professionals' outlook for the home purchase market over the next year, according to First American Financial Corp.'s fourth quarter Real Estate Sentiment Index.

Shadow lending growing as Canadians chase housing dream

National Mortgage News - 58 min 12 sec ago
The risk to Canada's financial system from tapped-out borrowers is merely shifting — this time to a market where there's no oversight from the country's national bank regulator and new stress-test rules don't apply.

Freddie Mac offering new type of tax-exempt multifamily security

National Mortgage News - 58 min 12 sec ago
Freddie Mac is broadening its capital markets vehicles with its first offering of participation certificate securities backed by multifamily tax exempt loans.

House lawmakers move to ease loan officer licensing rules

National Mortgage News - 58 min 12 sec ago
The House Financial Services Committee, by a vote of 60-0, approved a bill amending key provisions of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

NYDFS Headquarters highlights $891M conduit from UBS

National Mortgage News - 58 min 12 sec ago
A lower Manhattan office building that serves as the headquarters of the New York Department of Financial Services is the largest loan in a $891 million CMBS from UBS.

UBS former CMBS strategist felt like damaged goods, jury told

National Mortgage News - 58 min 12 sec ago
A former UBS Group AG senior strategist for commercial mortgage-backed securities developed suicidal thoughts and felt like a "pariah" in the industry after his 2012 firing and later lawsuit against the Swiss bank, a psychiatrist told a jury.