DS News, July 9, 2020–Mike AlbaneseThe U.S. Supreme Court on Thursday announced it will hear appeals in a case challenging the constitutionality of the Federal Housing Finance Agency’s single-director structure.Last …
Category: Top National News
Wells Fargo Tells New Clients They Need $1 Million in Balances for Certain Mortgage Refinancings
CNBC, July 9, 2020–Hugh SonThe move shows how Wells Fargo, the largest U.S. mortgage lender, is operating under the dual pressures of the coronavirus pandemic and a Federal Reserve cap …
How Soon will Fixed Mortgage Rates Fall Below 2%?
Orange County Register, July 9, 2020–Jeff LazersonWith such low interest rates, the mortgage industry is charging more points and fees to boost profits as seen in the Mortgage Bankers Association …
The Tanger Outlets CEO Thinks Online Shopping Is Overrated. Now He’s Betting on It.
Wall Street Journal, July 9, 2020–Sam Walker (subscription)For years, Steven Tanger staked his business on the idea that people want to buy clothing in person. When the pandemic hit, he …
Mortgage Rates Sink to Another Record Low
Washington Post, July 9, 2020–Kathy Orton (MBA mention)The 30-year fixed-rate average fell to 3.03 percent, its lowest level since Freddie Mac began tracking mortgage rates in 1971.https://www.washingtonpost.com/business/2020/07/09/mortgage-rates-sink-another-record-low/
Quicken Loans is Going Public: 5 Things to Know About the Mortgage Lender
MarketWatch, July 8, 2020–Jacob PassyQuicken Loans parent company Rocket Cos. has seen its net revenue double over the past year. The company brought in nearly $1.4 billion in the first …
Brooks Brothers Files for Bankruptcy as Athleisure Replaces Button-Down Shirts
Reuters, July 8, 2020–Nivedita BaluApparel brand Brooks Brothers filed for Chapter 11 bankruptcy on Wednesday, joining a list of decades-old American retailers that have crumbled under the impact of the …
NYC Rental Market Pushed to Breaking Point by Tenant Debts
Bloomberg, July 8, 2020–Prashant GopalStopgap measures are keeping renters in their apartments, even as their bills stack up.https://www.bloomberg.com/news/articles/2020-07-08/coronavirus-moves-nyc-affordable-housing-crisis-to-breaking-point?srnd=premium
Mortgage Earnings Coming in Hot, But Will They Stay that Way?
National Mortgage News, July 8, 2020–Bonnie Sinnock (subscription)Booming refinancing is expected to more than offset the tighter underwriting in second-quarter mortgage results.https://www.nationalmortgagenews.com/news/mortgage-earnings-coming-in-hot-but-will-they-stay-that-way
Mortgage Industry Took Full PPP Advantage
National Mortgage Professional, July 8, 2020There were at least 550 mortgage industry companies who received PPP loans.https://nationalmortgageprofessional.com/news/75442/mortgage-industry-took-full-advantage