HousingWire, Oct. 22, 2019–Kathleen HowleyMark Calabria, director of the Federal Housing Finance Agency, said he’s willing to wipe out Fannie Mae and Freddie Mac shareholders if needed to protect taxpayers …
Category: Top National News
Study: One in Five Homeowners Feel House Rich, Cash Poor
National Mortgage Professional, Oct. 22, 2019–Phil HallIn a poll of 675 homeowners, 19.5 percent of homeowners felt “house rich, cash poor” most or all of the time while 73 percent …
Traders Now See Fed Cut Next Week as a Near-Certainty
HousingWire, Oct. 21, 2019–Kathleen HowleyFutures traders now see a rate cut as the near-certain outcome of next week’s Federal Reserve meeting as a stagnant manufacturing sector weighs on the economy.https://www.housingwire.com/articles/traders-now-see-fed-cut-next-week-as-a-near-certainty/
Existing Home Sales Drop in September
National Mortgage Professional, Oct. 22, 2019–Phil HallMike Fratantoni, senior VP and chief economist of the Mortgage Bankers Association noted existing home sales declined in September, but are running more than …
Opportunity-Zone Funds Are Off to a Slow Start, Lagging Behind Heady Expectations
Wall Street Journal, Oct. 22, 2019–Ruth Simon, Peter Grant (subscription)The program, part of the 2017 federal tax overhaul, allows investors to defer and reduce taxes if they reinvest capital gains …
Homebuilder Pulte Lifts Annual Home Sales Outlook on Lower Mortgage Rates
Reuters, Oct. 22, 2019–Sanjana Shivdas, Ashwini RajHomebuilder PulteGroup Inc. raised its full-year forecast for home sales on Tuesday, after it posted a better-than-expected quarterly profit as lower mortgage rates boosted …
OCC Lacks Legal Power to Create Fintech Charter, Court Rules
American Banker, Oct. 21, 2019–Brendan Pedersen (subscription)A federal judge dealt a blow to the Office of the Comptroller of Currency’s special purpose fintech charter on Monday, ruling that the agency …
Half the World’s Banks Are Too Weak to Survive a Downturn, McKinsey Says
Bloomberg, Oct. 21, 2019–Hannah LevittMore than half of the world’s banks are too weak to survive a downturn, according to a survey from consultancy McKinsey & Co. A majority of …
Will Supreme Court Decision Threaten CFPB Independence?
HousingWire, Oct. 21, 2019–Kelsey RamirezVarious groups are torn on the Supreme Court’s decisioni to hear the case, with some saying a committee to head the bureau will keep it more …
Nearly $42M in CMBS at Risk in GameStop Store Shutdown: Morningstar
National Mortgage News, Oct. 21, 2019–Bonnie Sinnock (subscription)GameStop’s plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost …