Credit Union Times, Nov. 6, 2019–Jim DuPlessisCredit unions built their portfolios twice as fast in homes and other real estate than they did in car loans in September, a report …
Category: Top National News
Smaller Banks Take a Turn at Swinging the Ax
American Banker, Nov. 6, 2019–Jim Dobbs (subscription)Headcount at banks with $10 billion or less in assets fell by 2% in the first half of this year, with a net loss …
HomeStreet Fined for RESPA Violations
National Mortgage News, Nov. 6, 2019–Ken McCarthy (subscription)The Federal Deposit Insurance Corp. said in a press release Wednesday that the $7.2 billion-asset HomeStreet violated RESPA when it entered into agreements …
Legal Battle Erupts Between Black Knight, PennyMac over Allegations of Trade Secret Theft, Unfair Business Practices
HousingWire, Nov. 6, 2019–Ben LaneBlack Knight and PennyMac Financial Services each sued each other in separate federal courts, with each claiming that the other violated contract terms, federal and state …
Fed Adds $62.542 Billion To Markets Wednesday
Wall Street Journal, Nov. 6, 2019–Michael S. Derby (subscription)The intervention came via overnight purchase agreements in which eligible banks submitted $55.042 billion in Treasurys and $7.5 billion in mortgage-backed bonds …
Lawmakers Increase Criticism of ‘Opportunity Zone’ Tax Break
New York Times, Nov. 6, 2019–Eric Lipton, Jesse DruckerLawmakers are voicing mounting concerns about a federal tax incentive, known as an “opportunity zone,” that is supposed to encourage investors to …
NAHB: Construction Job Openings are Increasing
HousingWire, Nov. 6, 2019–Julia FalconEven though construction spending has been on the uptick in recent months, the number of construction job openings increased in September on a year-over-year basis as …
Study: Affordability Easier for Military Households
National Mortgage Professional, Nov. 6, 2019–Phil HallActive-duty military and veteran households are, on average, better able to afford housing than a civilian household, according to new data from Zillow.https://nationalmortgageprofessional.com/news/72857/study-affordability-easier-military-households
Weekly Mortgage Applications Flatline for The Second Straight Week
CNBC, Nov. 6, 2019–Diana OlickTotal mortgage application volume remained essentially unchanged, down 0.1 percent compared with the previous week, the Mortgage Bankers Association said. Mortgage applications to refinance a home …
How California Became America’s Housing Market Nightmare
Bloomberg, Nov. 6, 2019–Noah Buhayar, Christopher CannonFrom outdated zoning laws to a 40-year-old tax provision that benefits long-time homeowners at the expense of everyone else has created a severe shortage …