IMFnews

October 30, 2017

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

In 2016, the overall denial rate for applications for jumbo mortgages was 18.6 percent. Read More

FHFA Adds Language-Preference Question to New Loan Application Despite Industry Opposition

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… Read More

New Fannie Mae Survey: Humans, Not Robots Preferred

Also, lender websites don’t seem to sway consumer choices very much… Read More

FHA/VA Delinquencies Continue Climbing in 3Q17 While Servicing Grows

Some 6.03 percent of FHA loans were 30-to-60 days past due as of the end of the third quarter, up from 4.51 percent in June. Read More

NAHB Turns Against GOP Tax Overhaul After Homeownership Credit is Nixed

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…” Read More

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

No GSE-retained portfolios in Treasury's plan? Read More

Nationstar May Hit the Auction Block Soon

In February, SoftBank agreed to buy Fortress for roughly $3.3 billion in cash. Read More

Thanks to Legal Settlement, Freddie Mac has Blowout 3Q17: $7.19 Billion Profit (Pre-Tax); Almost $1B in Hurricane-Charges

In late December, Freddie will make its regular quarterly dividend payment to the U.S. Treasury, which holds its senior preferred shares. When it does, most of the $4.67 billion in net earnings will be swept into the general fund. Read More