HousingWire, Jan. 29, 2020–Ben LaneBack in 2018, Fannie Mae issued a warning to lenders after identifying more than 30 apparently fake companies that were appearing on borrowers’ mortgage documentation as …
Category: Top National News
Powell Offers Thoughts on Balance Sheet Expansion, Level
Bond Buyer, Jan. 29, 2020–Gary Siegel“The market anticipates that the Fed is unlikely to move rates this year, and today’s communication is consistent with this expectation,” said Mike Fratantoni, Mortgage …
OCC’s Otting, House Democrats Spar over CRA Reform
American Banker, Jan. 29, 2020–Brendan Pedersen (subscription)Most stakeholders agree that the Community Reinvestment Act needs to be reformed, but a congressional hearing featuring the regulator leading the reform effort showed …
Mr. Cooper Shuttering Oregon Office, Laying Off 301 Employees
HousingWire, Jan. 2, 2020–Ben LaneMr. Cooper (the company formerly known as Nationstar) is shutting down a Beaverton, Oregon office location that was part of the Seterus acquisition and eliminating all …
Food Trucks and Dunk Tanks: How Pulte ‘Ignites the Spark’
National Mortgage News, Jan. 29, 2020–Paul Centopani (subscription)https://www.nationalmortgagenews.com/news/food-trucks-and-dunk-tanks-how-pulte-mortgage-ignites-the-spark
U.S. Goods Trade Deficit Widens; Pending Home Sales Slump
Reuters, Jan. 29, 2020–Lucia MutikaniThe U.S. goods trade deficit increased sharply in December as imports rebounded, and businesses turned more cautious on accumulating inventory, prompting some economists to lower their …
Five Facts about Our Housing Supply Explain High Rents and Home Prices
Urban Institute, Jan. 29, 2020The report notes since 2009, housing demand has outstripped supply in the United States—quite significantly in some areas. In 2018, the latest full year for comprehensive …
Weekly Mortgage Applications Surge Over 7% as Rates Fall on Coronavirus Fears
CNBC, Jan. 29, 2020–Diana OlickMortgage rates fell to their lowest level since November, and that sent current borrowers and potential homebuyers rushing to their lenders, according to the Mortgage Bankers …
Verdict Coming on OCC’s Supervision of Wells Fargo
American Banker, Jan. 28, 2020–Kevin Wack (subscription)Last week, the Office of the Comptroller of the Currency rendered judgment on eight former high-level Wells Fargo executives. Still to come is a …
Is the U.S. in a Housing Bubble?
HousingWire, Jan. 28, 2020–Logan MohtashammiSpoiler alert: no. Unlike the bubble years, purchase application data, existing home sales, new home sales, housing starts and the lack of cash-out refinancing all point …