Mortgages

The Department of Banking and Insurance in New Jersey is warning that enforcement of a 2019 residential mortgage servicer licensing law will begin next year.

Now is not the time for the government to cut Federal Housing Administration premiums and enter new segments of the housing market.

A risk-based capital rule for Fannie Mae and Freddie Mac is expected to top the agenda in 2020 as the companies’ regulator executes plans for their release into the private sector.

A trade group is looking into why New York Gov. Andrew Cuomo felt foreclosure risks were too high to sign a bill that would have approved reverse mortgages for cooperative properties.

Mortgage rates ended the week little changed from the previous seven-day period and near historic lows for the year, according to Freddie Mac.

The owner of the MacArthur Center Mall in Norfolk, Va., has defaulted on a $750 million loan which includes the property as collateral.

With housing projected to grow hand-in-hand with the economy, Fannie Mae boosted its single-family mortgage origination outlook for 2019, 2020 and 2021.

The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight.

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.

If Fannie and Freddie are going to supply a government guarantee on mortgages, they might as well be part of the government.

More than half of the third quarter refinance activity was the cash-out variety, with borrowers removing the most total equity from their homes in nearly 12 years, according to Black Knight.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.

The latest deal, WFCM 2019-C54, involves 44 loans secured by 88 properties, with a heavy exposure to office (32%), multifamily (21.1%) and retail (17.9%) properties.

According to Moody's, Ally's latest auto-loan ABS will not require the issuer to repurchase loans with modified terms or maturities.

Loan defect risk in purchase applications stopped falling and plateaued in October, according to First American Financial Corp.

In a recent interview, Plaza Home Mortgage CEO Kevin Parra discussed why he likes certain underutilized loan products, thinks online lending will be limited, and is bullish on third-party originations.

Loan limits for most mortgages Fannie Mae and Freddie Mac buy will exceed $500,000 for the first time ever next year, and the maximum for most high-cost areas will be $765,000.

From product-specific variations in refinancing rates to pockets of depreciation in an otherwise healthy market, here are some details in housing-related data that highlight important underlying trends in the mortgage business.

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits.