Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
According to the WSJ: The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policymakers debate ways to change the system.
Bloomberg report: "Fannie Mae and Freddie Mac’s new overseer said the mortgage giants can be freed from government control even if Congress doesn’t pass a housing-finance overhaul, while signaling that lawmakers will get 'more than sufficient time' to come up with a plan of their own."
It’s been a rough April for top mortgage loan officer Brian Decker. On April 10, LendingLife reported that Decker voluntarily surrendered his California MLO license. Now, loanDepot confirms: "Brian Decker no longer represents loanDepot as of April 16, 2019."
ICE is the parent company of the New York Stock Exchange and is also a provider of data and listings services, and the company bought MERS last year. And now, ICE is buying Simplifile, which operates one of the largest networks connecting the agents and jurisdictions that underpin residential mortgage records.
A popular solution favors converting failing retail space into multifamily, mixed-use developments. And it's finding big backers with even bigger pockets, with three deals emerging this week alone. For a recent example, look no further than right here.
Jim Stryker provided some of the rocket fuel behind the Loan Officer recruiting efforts at Guaranteed Rate, where he reportedly help run the retail mortgage giant's efforts in the West. And now, he's heading to Movement Mortgage.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.