Wall Street Journal, Aug. 31, 2020–Nick Timiraos (subscription)Changes reflect reality that economic models ‘can be and have been wrong,’ says Vice Chairman Richard Clarida.https://www.wsj.com/articles/top-fed-official-says-new-framework-provides-more-humble-approach-to-setting-rates-11598879012?mod=hp_major_pos1#cxrecs_s
Category: Top National News
Rocket Analysts Mixed on Mortgage Lender’s Trajectory
The Street.com, Aug. 31, 2020–Dan WeilRocket shares rose after analysts issued reports on the mortgage lender, lauding its revenue growth while staying cautious on its valuation.https://www.thestreet.com/investing/rocket-mortgage-shares-get-mixed-reaction-from-analysts
Non-Agency Loans are in Need of Forbearance Assistance Too
Mortgage News Daily, Aug. 31, 2020–Jann SwansonAsurvey by the National Housing Resource Center found that 530,000 homeowners have become delinquent since the pandemic began despite being eligible for forbearance. About …
Black Knight Bolsters eNotes with DocVerify Acquisition
National Mortgage News, Aug. 28, 2020–Paul Centopani (subscription)As mortgage companies look to build out their offerings and provide customers with fully digital experiences, Black Knight announced its acquisition of DocVerify. …
The Fed Lays Out New Goals, but Its Tools Could Be Lacking
Wall Street Journal, Aug. 30, 2020–Nick Timiraos (subscription)Now that the Federal Reserve has formally codified changes to its policy framework to seek periods of higher inflation, the question is how …
Why Warren Bufffett Would Advise You to Refinance Your Mortgage
Yahoo! Finance, Aug. 30, 2020–Doug WhitemanInvesting sage Warren Buffett, who turned 90 on Sunday, would probably tell you to stop procrastinating. Rates on 30-year fixed-rate mortgages have been dirt-cheap in …
Investing in Northeast Ohio’s talent pipeline: Bill Cosgrove
Cleveland.com, Aug. 30, 2020–Bill CosgroveThe author, a past MBA Chairman and founder of Union Home Mortgage, Strongsville, Ohio, says community success lies with our young people and urges support for …
U.S. Consumer Spending Rises Strongly; Outlook Uncertain as Fiscal Stimulus Fades
Reuters, Aug. 28, 2020–Lucia MutikaniU.S. consumer spending increased more than expected in July, boosting expectations for a sharp rebound in economic growth in the third quarter, though momentum is likely …
Non-Qualified Mortgages are Coming Back, But with Tighter Guidelines
National Mortgage News, Aug. 28, 2020–Brad Finkelstein (subscription)Non-qualified mortgage originators are crawling back into the marketplace, but the lack of uniformity around forbearance policies is triggering concerns with securities purchasers …
MGM Resorts Lays off 18,000 Workers
Wall Street Journal, Aug. 28, 2020–Katherine Sayer (subscription)The job cuts, which start Monday, represent about one-fourth of the company’s pre-pandemic workforce of 68,000 U.S. employees.https://www.wsj.com/articles/mgm-resorts-lays-off-18-000-workers-11598626822?mod=hp_lead_pos2