Washington Post, Nov. 21, 2019–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to its lowest level in six weeks, declining to 3.66 …
Category: Top National News
Three Takeaways from Regulators’ Approval of the BB&T-SunTrust Merger (subscription)
American Banker, Nov. 20, 2019–Jim DobbsThe moment BB&T and SunTrust announced their merger plans early in the year, the questions started: Will regulators approve the megadeal? What kind of hoops …
In America’s Most Unequal City, Top Households Rake In $663,000
Bloomberg, Nov. 21, 2019–Wei Lu, Alexandre TanziAtlanta is the capital of U.S. inequality for the second year in a row, according to a Bloomberg analysis of large American cities with …
In 2020, Home Sales to Rise But Refinancing to Dip, Mortgage Bankers Say
Washington Post, Nov. 20, 2019–Michele LernerGeopolitical uncertainty and a slowdown in the global economy influenced financial market fluctuations this year, which in turn led to lower mortgage rates, according to …
Expert: Humans Won’t Be Involved in Majority of Mortgage Originations Within 2 Years
HousingWire, Nov. 20, 2019–Kelsey RamirezAI Foundry President and Founder Steve Butler says within just two years, the majority of mortgage originations won’t need a human to touch them.https://www.housingwire.com/articles/expert-humans-wont-be-involved-in-majority-of-mortgage-originations-within-2-years/
Fed Won’t Move on CRA Reform this Year: Otting (subscription)
American Banker, Nov. 20, 2019–Brendan PedersenThe Federal Reserve will not move with other regulators this year to modernize the Community Reinvestment Act, according to Comptroller of the Currency Joseph Otting.https://www.americanbanker.com/news/federal-reserve-wont-move-on-cra-this-year-otting
‘We Fudged the Numbers’
Reuters, Nov. 20, 2019–M.B. PellA major military landlord doctored maintenance repair reports at multiple bases, allowing it to collect Defense Department-approved bonuses. Now, Balfour Beatty Communities faces escalating probes into …
Fed Officials Cut Rates Last Month Amid Worries on Trade, Global Growth (subscription)
Wall Street Journal, Nov. 20, 2019–Nick Timiraos Federal Reserve officials worried that weakness in manufacturing, trade and business investment could threaten the economic expansion by triggering cutbacks in hiring and …
The Death of The Mortgage Broker Has Been Greatly Exaggerated
Mortgage News Daily, Nov. 20, 2019–Jann SwansonMortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for …
Weekly Mortgage Applications Fall Despite Rates Crossing Back Below 4%
CNBC, Nov. 20, 2019–Diana OlickRefinance applications dropped 8% for the week, after jumping 13% the previous week, according to the Mortgage Bankers Association.https://www.cnbc.com/2019/11/20/weekly-mortgage-applications-fall-despite-rates-crossing-back-below-4percent.html