TheMReport — News and strategies for the evolving mortgage marketplace.
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Stand Out as Industry Leader and Present Your Company in the Premier Publication in Mortgage Banking. month in review On Confidence This past month saw many financial indicators lead to Americans feeling less than sure about how the country is doing economically. SEPTEMBER 4 Consumer Sentiment Drops in August Upcoming MReport Editorial November Feature: Online Lending in the Spotlight—A look at the boom of online originations. Special Section: Credit Reporting and Scoring Products Bonus Distribution: » Safeguard National Property Preservation Conference » NAR Realtors Conference and Expo theMReport.com The Index of Consumer Sentiment, released by Thomson Reuters and the University of Michigan, showed a drop in points indicating a stall in recent confidence gains. Americans are waiting to hear stable market indicators from the Fed and the White House, which may move the needle back toward a positive sentiment. SEPTEMBER 6 Analysts Question Taper Timeline Following Jobs Report A lot of industry-wide decisions hinged upon whether the Fed would signal a move to taper the bond-buying stimulus that has helped right the housing industry. However, after the most recent jobs numbers, some analysts are left wondering if the timeline to exit from the strategy is too soon. SEPTEMBER 10 Advertise now! WL Ross Vice Chair Talks Shop on GSEs and Housing Lessons Call 214.525.6700 or connect with us online at TheMReport.com. James B. Lockhart III addressed a large crowd at the 10th annual Five Star 14 | The M Report Conference and Expo, where he expressed concern at the rhetoric surrounding dissolving the GSEs and praised Fed Chair Ben Bernanke's leadership during the tumultuous onset of the financial crisis. SEPTEMBER 13 CFPB Finalizes Changes in Mortgage Rules The CFPB continued its work to clarify the qualified mortgage (QM) rules set to take effect on January 10, 2014. The agency released several finalized amendments and clarifications created to ease the process as the entire industry moves to get their shops into compliance. SEPTEMBER 19 Senators Say Bipartisan GSE Reform Bill Gaining Momentum Sen. Mark R. Warner (D-Virginia) saw an uptick in momentum surrounding his GSE reform in Congress. The bill proposes that Fannie Mae and Freddie Mac be wound down on a five-year timetable and that a Federal Mortgage Insurance Corporation (FMIC) be created to ensure securitized loans.