Dear Parents, don’t expect your homebuying Millennials to pay you back

Dear Parents, don’t expect your homebuying Millennials to pay you back

laonDepot graph shows they can barely save for retirement

Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate; homeownership's 50-year low, bank highs and more

Here's how to handle electronic delivery of mortgage disclosures

So many aren't even ready for TRID
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News

Fannie Mae extends foreclosure timelines in 33 states

Raises number of allowable days for foreclosure proceedings
Fannie Mae announced that it is increasing the maximum number of allowable days for “routine” foreclosure proceedings for much of the country. Click here to see where Fannie Mae just changed the foreclosure timelines.
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eMortgage Logic becomes Morningstar-rated asset valuation vendor

Receives ‘MOR RV1’ vendor ranking
eMortgage Logic, a provider of residential real property valuations, data and analytics, received a residential vendor ranking from Morningstar Credit Ratings. According to a release from Morningstar, the ratings agency assigned a ‘MOR RV1’ residential vendor ranking to eMortgage Logic as a residential vendor in the asset valuation market.
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Dear Parents, don’t expect your homebuying Millennials to pay you back

laonDepot graph shows they can barely save for retirement
More parents are helping their kids buy a home, but there is one catch for the parents: They probably won’t see that money ever again. After surveying parents and Millennials, loanDepot put together this infographic on what the financial arrangements are between parents and their kids.
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Blackstone acquires ‘significant equity stake’ in mortgage insurer PMI Group

Provides PMI Group with loan for right to take part in future equity offerings
Blackstone is increasing its already substantial position in housing again, as funds affiliated with Blackstone Tactical Opportunities are set to acquire a “significant equity stake” in The PMI Group, a provider of mortgage insurance. PMI said that in connection with the purchase of a significant equity stake in PMI, Blackstone will provide PMI with a loan to be used for working capital.
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Sources: loanDepot readies IPO filing

Latest game-changing move gets mortgage market buzzing
Industry sources close to the company said loanDepot is getting ready to file an initial public offering after making significant strides in the industry this year in an attempt to become the No. 1 nonbank consumer lender. Click the above headline to learn about their latest move.
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Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate; homeownership's 50-year low, bank highs and more
In a scathing essay in National Review, two Yale legal/business scholars issue a pretty damning indictment of the patina of legality smeared atop the taking of shareholder profits from Fannie and Freddie. Plus, homeownership hits a half-century low while apps grow. Here's everything that's happening.
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MBA: Mortgage credit ticks up in August

Jumbos the biggest gainers, but coventionals see small boost
Mortgage credit availability increased in August and has increased in eight of the last nine months, mainly on jumbo loan products but also on conforming conventional mortgage loans. Here's the scorecard.
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Friday’s job report doesn’t look promising

Employment still bedevils housing, could delay rate hikes
All the early indicators point to a weak August jobs report. Given the state of concerns over employment and the broader economy, including home sales, talk is going to move to a December rather than September rate hike by the Federal Open Market Committee. Read on.
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