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  • InvestmentsLending

    But mortgage lending creates a drag

    In the first half of 2018, Bank of America reported a record first half with its net income of $13.7 billion. But this increase is despite a drag from mortgage banking income, which partially offset gains in the bank’s noninterest income.
  • Real-mmcc
    Lending

    Monday Morning Cup of Coffee: LA celebrity real estate blogger identity revealed

    Congress gears up for Fed, CFPB director hearings

    For years, an anonymous blogger has written about nonpublic details surrounding celebrity home sales, their identity a mystery that plagued the Los Angeles area. But now, that mystery is solved. Plus, both houses of Congress are gearing up for a round of hearings this week.
  • House_money
    Lending

    Online lenders struggle with cost of originations

    But investors grow more comfortable as market matures

    The cost to originate a mortgage increased significantly in 2018, and that increase now threatens even nonbank online lenders. A new study of online lenders shows a full 77% listed the cost of funding among their top three concerns, and 38% said it was their top concern.
  • Homeless
    Real Estate

    HUD grants $43 million in effort to end youth homelessness

    Awards money to 11 local communities

    In an effort to end youth homelessness, HUD announced it is awarding $43 million to 11 local communities. These communities include five rural areas, and the funds will be dispersed through HUD’s Youth Homelessness Demonstration Program. Here’s where the funds will be awarded, and what each community will do with its share.
  • Wellsfargobankphoto
    InvestmentsLending

    Fake accounts scandal still curbing Wells Fargo earnings

    Mortgage banking revenue falls in Q2

    Wells Fargo’s latest earnings report shows the bank continues to struggle with its fake accounts scandal, which began back in 2016. And not only did the bank report a lower net income, but the latest earnings report shows it also continues to struggle with mortgage banking revenue, even as originations increase.
  • House_down_payment
    Lending

    FHA: Life of loan policy to remain, but agency considering options

    FHA commissioner says agency has discussed changes to life of loan policy

    It looks like there won’t be any significant changes to the FHA's mortgage insurance program this year. Earlier this week, new FHA Commissioner Brian Montgomery told a group of reporters that there likely won’t be a cut to the FHA’s mortgage insurance premiums this year. And it appears that there won’t be any changes to the life of loan policy either.
  • Congress
    Lending

    Senate looks to fix “broken” credit reporting system

    Here are some actions Congress can take

    The Senate Committee on Banking, Housing and Urban Affairs held a hearing Thursday morning on “An Overview of the Credit Bureaus and the Fair Credit Reporting Act,” where Senators on both sides of the aisle expressed their concern over the current “broken” credit reporting system. Here are some of their solutions to fix it.
  • Youngcouple_house_computer_tech
    Real Estate

    Here are 5 reasons the Millennial homeownership rate is low

    Urban Institute breaks down the data

    For years, several factors have been tossed around such as high home prices, fear over the last housing crisis, delays in family formation and even student loans as reasons why the younger generation is holding out. But now, the Urban Institute released a study that shows the actual data behind these factors, revealing what is really holding Millennials back from homeownership.
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This month in
HousingWire magazine

Cover Story
July 2018

Threat multiplier: states mobilize to defend consumer protections

In the days following the 2016 election, business leaders across many industries were hopeful that the new president would make good on his promise of widespread deregulation. Banks and other financial institutions were especially optimistic. Here at last was the relief they had been looking for. Or not.

Feature

Are we seeing the return of subprime?

Rick Sharga
Rick Sharga
Even Hollywood knows better than to produce a sequel when the original movie is truly, horrifically bad. That’s why, thankfully, we haven’t seen sequels to such all-time cinematic disasters as Howard the Duck, Gigli, The Last Airbender, Jack and Jill, Glitter, or Battlefield Earth. Which brings us, in an admittedly roundabout way, to the question of whether we’re about to see a sequel of sorts in the mortgage industry: The Return of the Subprime Loan.

Commentary

Housing finance's evolving policy landscape

Carol Bouchner
Carol Bouchner
With FHFA director Mel Watt’s term due to expire in January 2019, the question of whether to move ahead on some version of administrative reform may rest with his successor. In the meantime, policy makers would be well-served to work together to come to some agreement on options for administrative reform. At a minimum, agreeing on a common definition would be a good first step.