Items Tagged with 'NAFCU'

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Housing industry's biggest trade groups push FHA to reconsider PACE rules

Concerned about energy improvement loans being given super priority status
Last month, the Department of Housing and Urban Development and the Federal Housing Administration announced that the FHA will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage. But the fine print of the new rules has the housing industry's largest trade groups concerned.
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Does jobs report mean Fed won't raise interest rates in June?

Layoffs in 2016 are the highest in seven years
The latest jobs report revealed a slow down in the labor market, causing some economists to question the likelihood of a June interest rate rise. As a refresher, the Fed chose not to raise rates in its most recent April meeting, but as many as three rate hikes are forecasted to happen this year. There are only five meetings left in 2016. You can do the math.
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FHFA principal reduction plan garners mixed reaction from housing industry

Some love it, others not so much
It’s only been a short time since the Federal Housing Finance Agency shook up the housing industry by announcing that it plans to begin offering principal reductions to certain borrowers, but reactions from both sides are beginning to trickle in. Some in the housing industry love it, some believe that the FHFA's plan doesn't go far enough, while others are concerned that the program sets a "dangerous precedent."
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White House absolutely wrong to threaten veto of TRID bill

A weakened administration looks to flex itself for no good reason
The White House is threatening to veto a wholly bipartisan House measure that would simply create a formal “hold-harmless” grace period for lenders and others in the industry operating under the new and incredibly complex TILA-RESPA Integrated Disclosure rule. Because reasons or something.
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House to vote on TRID grace period Wednesday

Would formally extend it until Feb. 1, 2016
Congressional sources tell HousingWire that the House will consider H.R. 3192, the Homebuyers Assistance Act, sponsored by Rep. French Hill, R-Ark., Wednesday afternoon. The industry says it's badly needed. Will it pass and will it be enough?
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Housing experts explain September's hot mess jobs report

There may be a few slivers of silver lining buried in the storm cloud
Earlier Friday the September employment situation report from the Census Bureau showed new job creation cratering to a weak 142,000, and while the whole report is a hot mess, there are a few buried bits of potentially good news in the data points. Want to know what they are?
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Mortgage industry to CFPB: Stop normalizing bad data

Fix the consumer complaint database, industry says
The mortgage finance industry is still not happy with the Consumer Financial Protection Bureau and its consumer complaint narrative database, which publishes unvetted and unverified anonymous complaints against specific companies. Want to know more? Of course you do.
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