National Mortgage News - May 2018

Home prices, jobs and evolving consumer behaviors are restoring prerecession migration patterns.

As the American population migrates to the suburbs and midsize cities, mortgage lenders and real estate professionals must re-examine their customer relationship management and lead generation strategies to better serve potential borrowers.

TriStar Bank in Tennessee says a shortage of appraisers is slowing down its commercial real estate lending and raising the cost of appraisals. The claim has outraged appraisers, who argue that the bank is simply trying to avoid paying their fees.

The dominant player in manufactured housing lauded the Trump administration's review of construction standards, but other commenters worry the plan will undermine housing quality.

Fannie Mae and Freddie Mac had a 9% increase in total foreclosure prevention actions taken during 2017 as a result of three September hurricanes, according to the Federal Housing Finance Agency.

Cloudvirga, in collaboration with Freddie Mac, has created the capability for loan officers to submit mortgage loan data to both government-sponsored enterprises' automated underwriting systems simultaneously with a single click.

Despite soaring home prices, other factors needed to inflate a housing bubble are absent from the real estate market. But experts warn falling home values and rising mortgage defaults are inevitable, even if conditions naturally cool off.

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.

While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations.

First the House and now the Senate have included provisions in their regulatory relief bills that bankers say would go a long way toward clearing up confusion over how to treat high-volatility commercial real estate loans.

Investors are growing worried about lackluster loan growth this year at community banks.

News that the GSEs need an infusion from Treasury to cover quarterly losses underscores problems with the government’s 2012 decision to “sweep” the housing giants’ profits.

Mortgage industry hiring and new job appointments for the week ending May 4.