TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/211920
social Life Thoughtless Leadership Industry leaders and market watchers alike joined in the debate this month as the impact of the government shutdown raised major concerns in the industry. @fireflylegal Sad stats for the American Dream: Only 1/3 of Americans Likely to Qualify for a Mortgage. #themreport @compliancesys Washington Gridlock Spells Quiet Week for Mortgage Rates. #themreport @eddelgado When government leaders fail to lead, the entire system breaks. TRENDING The Story: The Story: The Story: The Story: Freddie Mac Completes First Multifamily Bulk Loan Sale Interest Rates Feel Effects of Government Shutdown Fannie Mae's Book Sees Another Drop in August CFPB Finalizes Changes to Mortgage Rules The Scoop: The Scoop: The Scoop: The Scoop: An affiliate of Colony Capital purchased the GSE's portfolio of 27 performing loans with an unpaid principal balance of $195 million. The portfolio included loans for multifamily, student housing, and assisted living facilities. Though the early days of the shutdown in Washington didn't have a major impact on the economy, concerns about what would come next drove mortgage rates down for another week. Home values are on track to reach more than $167,000 by the end of 2013, according to economists and real estate experts surveyed by Zillow and Pulsenomics. First handed down in January 2013, the QM guidelines include an "Ability-to-Repay" rule designed to ensure lenders "make a reasonable, good-faith determination that prospective borrowers have the ability to repay their loans." The bureau also introduced this year new loan officer compensation rules to remove incentivized "steering" toward certain products, servicing rules to establish protections for borrowers facing foreclosure, and strengthened consumer protections for high-cost mortgages. Blog: The Theatre of Politics at the Expense of the People, by Ed Delgado While many of us believe too much government is counterproductive to the overall well-being of the world, no government has a very detrimental effect as well. The debacle playing out in our nation's capitol, leading to the shutdown of our government, is a prime example of the lack of leadership by all parties and political posturing with no thought to the toll it takes on the people and economy of our country. The M Report | 7