Bloomberg, Aug. 17, 2020–Sara ClemenceThe new White Water hotel on California’s central coast has a lot going for it: a location on a moonstone-studded beach, generously sized rooms, and Scandinavian-inspired …
Category: Top National News
Home Depot Braced for Covid Pain—Then Americans Remodeled
Wall Street Journal, Aug. 16, 2020–Sarah Nassauer (subscription)After lobbying to be open, the big box scrambled to meet demand. Old benchmarks don’t apply, says CEO Craig Menear: ‘None of that …
California’s ‘Mini-CFPB’ is Back in Play. Banks Aren’t Happy
American Banker, Aug. 14, 2020–Kate Berry (subscription)A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the …
Lawmakers Want Inquiry into Report that OCC Halted Redlining Probes
National Mortgage News, Aug. 14, 2020–Neil Haggerty (subscription)Senate Democrats asked a watchdog to examine whether the bank regulator failed to investigate claims of discrimination against at least six banks.https://www.nationalmortgagenews.com/news/lawmakers-want-inquiry-into-report-that-occ-halted-redlining-probes
Want to Refinance Your Home Loan with Record-Low Rates? Get Ready for a Hefty Fee
NPR, Aug. 15, 2020–Chris ArnoldStarting next month, all home mortgages that are refinanced will have to pay half of 1% of the loan. In other words, $1,500 for a $300,000 …
Can U.S. Retail Sector’s ‘V-Shaped’ Rebound Jump the Fiscal Cliff?
Reuters, Aug. 14, 2020–Howard SchneiderEven with nearly a fifth of the labor force collecting unemployment benefits in July, Americans continued spending with relative gusto, driving retail sales back to pre-coronavirus …
New Rez Looking to Hire 750 Positions in Origination Division
HousingWire, Aug. 14, 2020–Alex RohaMortgage lender NewRez is currently hiring for over 750 positions in its origination division. The company is seeking to fill positions in all four of its …
Rocket’s 2Q Earnings at Higher End of Previous Guidance
National Mortgage News, Aug. 14, 2020–Brad Finkelstein (subscription)Rocket Cos. reported preliminary second-quarter earnings of $3.5 billion, a figure toward the upper end of the range it provided before the company …
U.S. Industrial Production Rises for Third Straight Month
Wall Street Journal, Aug. 14, 2020–David Harrison (subscription)Industrial production—a measure of output at factories, mines and utilities—rose a seasonally adjusted 3% in July from June, the Federal Reserve said Friday, …
Low Mortgage Rates Help Propel A Strong Housing Market
Forbes, Aug. 14, 2020–Natalie CampisiIt’s these ultra-low rates that are pushing up mortgage applications for both buyers and people who want to refinance existing mortgages, says Joel Kan, associate vice …