HousingWire, Aug. 7, 2020–Alex RohaIn today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share.https://www.housingwire.com/articles/with-20-market-share-independent-mortgage-brokers-are-competing-directly-with-retail-lenders/
Category: Top National News
Foreign Investment in U.S. Homes Drops for 2nd Straight Year
Mortgage Professional America, Aug. 7, 2020–Ryan SmithForeign buyers purchased $74 billion in existing US homes between April 2019 and March 2020, a 5% decrease from the previous 12-month period and …
Hiring for Mortgage Jobs Ramps Up as Loans Keep Streaming In
National Mortgage News, Aug. 7, 2020–Bonnie Sinnock (subscription)The rising number of positions appears to reflect an ongoing need to adjust capacity to address rate-driven demand.https://www.nationalmortgagenews.com/news/mortgage-jobs-increase-in-june-2020
Amazon and Mall Operator Look at Turning Sears, J.C. Penney Stores Into Fulfillment Centers
Wall Street Journal, Aug. 9, 2020–Esther Fung, Sebastian Herrera (subscription)Simon Property Group Inc., the largest mall owner in the U.S., has been in talks with Amazon.com Inc., the company many …
Millennials Slammed by Second Financial Crisis Fall Even Further Behind
Wall Street Journal, Aug. 9, 2020–Janet Adamy (subscription)The economic fallout of the Covid pandemic has been harder on millennials, who are already indebted and a step behind on the career …
Mortgage Rates Will Drop Further In Coming Weeks
Forbes, Aug. 8, 2020–Bill ConerlyMortgage interest rates are falling, but they’ll drop even more in the coming weeks, giving some 18 million homeowners an opportunity to save money by refinancing. …
Lowest Mortgage Rates Ever Spur Historic Jump in Bond Supply
Bloomberg, Aug. 7, 2020A deluge of supply has inundated the agency mortgage-bond market this year, as a plunge in lending rates triggered a wave of homeowner refinancings.https://www.bloomberg.com/news/articles/2020-08-07/structured-weekly-mortgage-supply-surge-reaches-historic-level
Mortgage Mogul Dan Gilbert Sees Net Worth Quicken to $34B
The Real Deal, Aug. 7, 2020In its first day of trading, shares of Rocket Co. rose more than 19 percent, pegging the net worth of Dan Gilbert, the company’s CEO, …
Fannie Mae Survey Confirms: It’s a Seller’s Market
HousingWire, Aug. 7, 2020–Alex RohaAfter two consecutive months of advances, Fannie Mae’s Home Purchase Sentiment Index fell 2.3 points in July to 74.2, but remained above April’s record low.https://www.housingwire.com/articles/fannie-mae-survey-confirms-its-a-sellers-market/
Beyond Coronavirus Stimulus Act Relief, Struggling Homeowners Have Mortgage Payment Options
Wall Street Journal, Aug. 7, 2020–Julie CarpenterAs part of the coronavirus relief effort, Congress passed a $2 trillion stimulus package in April with provisions for those struggling to make their …