By a significant margin, responses to our recent survey question about the merger between the Mortgage Bankers Association and the National Home Equity Mortgage Association said the merger will be good for the industry.The final tally was 140 saying the merger will be good, and 89 saying it won't. (The nay votes ballooned to more than 600 on Oct. 22, when 537 nays from a single computer were recorded in a matter of five minutes, according to NMN's webmaster. All but one of those nay votes were subtracted from the final tally.) Check out the latest survey question in the left column of the NMN home page.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
6h ago -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
7h ago -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
9h ago -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
10h ago -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
11h ago