The new boss at the Consumer Financial Protection Bureau – Mick Mulvaney – wasted no time this week in beginning to steer a new course for the controversial agency.
Jumbo mortgage production was up 9.6 percent in the third quarter, a slightly faster growth rate than the 8.8 percent increase in first-lien originations during that period, according to a new ranking and analysis by Inside Mortgage Finance.
The conforming loan limit for one-unit properties in 2018 will be $453,100, according to an an-nouncement this week by the Federal Housing Finance Agency. The limit for mortgages eligible to be delivered to the government-sponsored enterprises increased by 6.8 percent from the current limit.
As the calendar winds down on 2017, staffers for Sens. Robert Corker, R-TN, and Mark Warner, D-VA, are busy working on housing-finance reform legislation, showing their progress, thus far, to a small group of industry insiders, Inside Mortgage Finance has learned.
In addition to controversial changes in the treatment of housing-related tax breaks, the fast-moving Senate tax reform bill includes provisions that could disrupt the mortgage servicing business. The Senate was scheduled to vote on the legislation by the end of the week.
Warehouse lenders ended the third quarter of 2017 with an estimated $67.0 billion of commit-ments on their books, a 4.7 percent sequential gain and a sign that nonbanks are continuing to search for liquidity – even if they’re not ready to tap it right away.
Service members and veterans who receive unsolicited offers to refinance their VA loans with promises that may sound too good to be true should either ignore the offer or investigate further, ac-cording to the Department of Veterans Affairs and the Consumer Financial Protection Bureau.
Mortgage lending to first-time homebuyers – and mortgage risk – increased slightly in August despite concerns about housing supply and rising housing prices, according to a new analysis by the American Enterprise Institute.
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