CNBC, Oct. 29, 2019–Diana OlickPending home sales, which measure signed contracts to buy existing homes, rose 1.5% in September compared with August, according to the National Association of Realtors.https://www.cnbc.com/2019/10/29/pending-home-sales-rise-1point5percent-in-september-due-to-lower-mortgage-rates.html
Category: Top National News
Home Purchases to Remain Solid in 2020, Thanks to Low Interest Rates
Fox Business, Oct. 29, 2019–Megan HenneyThanks to historically low-interest rates–and cheap mortgage rates–home purchases are expected to continue to increase in 2020, according to a new forecast from the Mortgage …
FHA Lending Likely to Benefit after Agencies Strike Regulatory Deal
Scotsman Guide, Oct. 29, 2019–Arnie AurellanoWith HUD’s announcement, however, DOJ is set to ease enforcement of the False Claims Act, a move that could potentially entice banks to return to …
Powell Faces Tightrope Act Framing Potential Pause on Fed Rate Cuts
Wall Street Journal, Oct. 29, 2019–Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell will walk a tightrope this week over whether and how to signal a potential timeout in rate cuts …
California Fire Damage Already at $25.4 Billion, and Counting
Bloomberg, Oct. 28, 2019–Nic Querolo, Brian K. SullivanDamages from the fires ripping across California stand at $25.4 billion, and they’re bound to keep rising.https://www.bloomberg.com/news/articles/2019-10-28/california-fire-damages-already-at-25-4-billion-and-counting?srnd=premium
Ellie Mae Signs Agreement to Acquire Capsilon
HousingWire, Oct. 28, 2019–Kelsey RamirezEllie Mae, a cloud-based platform provider, announced Monday it signed a definitive agreement to acquire Capsilon, a provider of AI-powered mortgage automation software for lenders, investors …
Falling Rates Boost Mortgage Market to Precrisis Levels
Wall Street Journal, Oct. 28, 2019–Ben Eisen, Laura Kusisto (subscription)The mortgage market turned red hot over the summer, posting its biggest three months since the financial crisis.https://www.wsj.com/articles/falling-rates-boost-mortgage-market-to-precrisis-levels-11572267165?mod=hp_lead_pos8
Ginnie Mae Lays Out Its Plan for a Digital Mortgage Pilot
National Mortgage News, Oct. 28, 2019–Bonnie Sinnock (subscription)Ginnie Mae is looking for input on its proposed guidelines for electronic promissory notes and other mortgage documents that it plans to test …
FHFA Releases 2020 Scorecard for Fannie Mae and Freddie Mac
HousingWire, Oct. 28, 2019–Kathleen HowleyThe Federal Housing Finance Agency released its annual “Scorecard” for Fannie Mae and Freddie Mac outlining the goals its regulator will use for judging their performance …
Are Fannie, Freddie Ready for Compeitition? ‘Bring it on,’ CEOs Say
National Mortgage News, Oct. 28, 2019–Brad Finkelstein (subscription)When it comes to possible new competitors in the secondary market, the heads of the two current outlets said they more than welcomed …