CNBC, Aug. 6, 2020–Robert FrankThe number of signed contracts for co-ops and condos in Manhattan dropped 57% in July compared with a year ago, a report from Miller Samuel and …
Category: Top National News
NYSE Owner Agrees to Buy Mortgage-Software Firm Ellie Mae
Wall Street Journal, Aug. 7, 2020–Alexander OsipovichIntercontinental Exchange Inc., ICE 1.35% the owner of the New York Stock Exchange, said it would acquire mortgage-software firm Ellie Mae, a landmark bet …
The Rapid Adoption of Digital Closings During COVID-19 Shows What’s Possible in the Mortgage Industry
HousingWire, Aug. 6, 2020–Sarah WheelerSimplifile’s Nancy Alley discusses why lenders are unlikely to go back to more manual processes.https://www.housingwire.com/articles/the-rapid-adoption-of-digital-closings-during-covid-19-shows-whats-possible-in-the-mortgage-industry/
Survival For Some Mom-and-Pop Landlords Hangs in the Balance
Orange County (Calif.) Register, Aug. 6, 2020–Jeff LazersonIf Judicial Counsel lifts eviction ban on August 14, legislation will likely continue to put the burden of missed rent payments on landlords. …
Self-Employed Borrowers Now Face More Mortgage Scrutiny
Forbes, Aug. 6, 2020–Mark HenricksConIt’s always been a little tougher for self-employed borrowers to get home loans than it is for regular W-2 employees. Now mortgage lenders are hiking income …
Mortgage Credit Availability Up in July
Banker & Tradesman, Aug. 6, 2020Mortgage credit availability increased in July according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from Ellie …
Mortgage Rates Hit Another Record Low, But Homes Are Still Less Affordable
CNBC, Aug. 6, 2020–Diana OlickAbout 59.6% of new and existing homes sold in the second quarter of this year were considered affordable to families earning an adjust median income of …
Hospitality Industry Turns to Tech to Lure Guests Back
Wall Street Journal, Aug. 5, 2020–Sara CastellanosU.S. hotel companies are doubling down on automation and fast-tracking technologies such as digital room keys and voice-activated digital assistants to minimize contact between …
Mapping the New Lending Landscape
Commercial Property Executive, Aug. 05, 2020–Greg IsaacsonInsights from capital markets leaders on what to expect during the most challenging climate for real estate finance in recent memory. (MBA mention)https://www.cpexecutive.com/post/mapping-the-new-lending-landscape/
Fed Inflation Plan Could End Rock-Bottom Mortgage Rates
HousingWire, Aug. 5, 2020–Kathleen HowleyThe Federal Reserve is considering abandoning its longtime strategy of using its benchmark rate to pre-emptively prevent inflation from rising above its 2% target. That could …