It’s official: Steve Horne out as Wingspan CEO

It’s official: Steve Horne out as Wingspan CEO

Jason Spooner takes over; Horne becomes senior advisor

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
W S

Lending

Toll Brothers CEO calls new mortgage rules dumb

“3% down doesn’t make any sense”
Brena Swanson
Not every builder is on board with federal regulators’ move his week to open the credit box and ease mortgage-qualification standards. While other builders like PulteGroup and Ryland Group welcome the new rules, Luxury homebuilder Toll Brothers finds the rule dumb.
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HUD fines Cincinnati landlord for failure to disclose lead paint

Meyer Management fined, ordered to conduct lead abatement
Ben Lane
According to the federal government, Meyer Management violated the Federal Residential Lead-Based Paint Hazard Reduction Act by failing to inform tenants that their homes may contain “potentially dangerous” levels of lead.
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Meet the new guidelines for single-family rentals

National Rental Home Council releases operating guidelines
Ben Lane
The National Rental Home Council, the trade group for single-family rental homes created by the largest owner-operators in the space, has released operational guidelines for the entire single-family rental industry.
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Jennifer Lawrence buys Jessica Simpson’s former home

Purchases bachelorette pad for $8.225 million
Brena Swanson
This Hunger Games star just purchased a new bachelorette pad for $8.225 million, but she's not the first celebrity to walk the halls of this Beverly Hills mansion.
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Marriage ignites the desire to buy a home

...except people aren’t getting married
Brena Swanson
Marriage is no longer at the forefront of Americans' minds as more people choose to delay marriage, creating a ripple effect that pushes the prospect of homeownership further back.
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It's official: Risk retention rule approved

Federal Reserve gives last and final approval
Brena Swanson
The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary
Lynn Effinger
Several newsworthy events have occurred over the past several days that would seem to indicate that the housing “recovery” is picking up steam. While that would be welcome news for our country in general and our industry in particular, these reports are tempered by the potential unintended consequences of certain actions either taken or not taken.
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TILA-RESPA: Smart lenders are taking action today

Will impact disclosures, estimates, testing and reporting
Jonathan Corr

If you’re still filling out forms manually, or going back and forth between two or more different systems, you’re not going to survive — it’s just too time-consuming and costly.


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Freddie Mac: Mortgage rates continue to fall below 4%

Hit lowest level in over a year
Brena Swanson
Mortgage rates continued to fall after last week’s significant drop and dipped to the lowest level since the week of June 6, 2013, the latest Freddie Mac Primary Mortgage Market Survey said.
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PulteGroup 3Q net income drops to $141M

“We are encouraged by proposed changes at FHFA”
Brena Swanson
"By remaining disciplined in our construction and land investment practices, we continue to improve our returns on invested capital while positioning the Company to take advantage of market opportunities,” said Richard Dugas, Jr., chairman, president and CEO of PulteGroup.
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