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Sharp Differences in Denial Rates for Jumbos; Some Nonbanks Have Turn-Downs North of 40 Percent

October 30, 2017
Brandon Ivey
In 2016, the overall denial rate for applications for jumbo mortgages was 18.6 percent.
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FHFA Adds Language-Preference Question to New Loan Application Despite Industry Opposition

October 30, 2017
Carisa Chappell
The wording of the language-preference question first tells borrowers that their loan transaction is likely to be conducted in English but gives them the option of selecting one of six languages: English, Chinese, Korean, Spanish, Tagalog, and Vietnamese…
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New Fannie Mae Survey: Humans, Not Robots Preferred

October 30, 2017
Paul Muolo
Also, lender websites don’t seem to sway consumer choices very much…
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NAHB Turns Against GOP Tax Overhaul After Homeownership Credit is Nixed

October 30, 2017
Paul Muolo
NAHB said by sharply reducing the number of taxpayers who would itemize, “what’s left is a tax bill that essentially eviscerates the mortgage interest deduction…”
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Short Takes: No Retained Portfolio for the GSEs? / A 33 Percent Chance for a Bill / Have a Mortgage Question? Ask a Real Estate Agent First / MIAC Selling Whole Loans / PrimeLending Picks SoCal Manager

October 30, 2017
Paul Muolo
No GSE-retained portfolios in Treasury's plan?
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Nationstar May Hit the Auction Block Soon

October 30, 2017
Paul Muolo
In February, SoftBank agreed to buy Fortress for roughly $3.3 billion in cash.
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Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch and Dent’ Loans

October 27, 2017
With just over 4.5 million mortgage borrowers potentially affected by hurricanes Harvey and Irma, a secondary market is beginning to develop for mortgages that were originated and closed prior to the storm – but had not yet been placed into a security. According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines. But the mortgages cannot be securitized until the property (if damaged) can be brought up to code and re-inspected ...
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Momentum Building for Housing-Finance Reform? Yes, No, Maybe?

October 27, 2017
Brandon Ivey
Joshua Rosner, managing director of Graham Fisher & Co., said his discussions with Trump officials and members of Congress suggest that the administration’s reform principles won’t be released until early next year…
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CFPB Will Rely on Tech Tools for Regulatory Oversight

October 27, 2017
Thomas Ressler
The CFPB plans to develop and maintain technology solutions for coordinating supervisory information...
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What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

October 27, 2017
Paul Muolo
But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...
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