Wall Street Journal, Mar. 9, 2020–Colin Kellaher (subscription)Wells Fargo’s Chairman Elizabeth Duke and board member James Quigley have resigned from the board. They were among the executives scheduled to appear …
Category: Top National News
Fear Isn’t the Only Driver of the Treasury Rally: Banks Need to Hedge Their Mortgages
Wall Street Journal, Mar. 6, 2020–Julia-Ambra Verlaine (subscription)Banks need to buy around $1.2 trillion of 10-year Treasurys to offset risks on mortgages and bank deposits.https://www.wsj.com/articles/fear-isnt-the-only-driver-of-the-treasury-rally-banks-need-to-hedge-their-mortgages-11583470802
Record-Low Mortgage Rates Could Turn a 30-Year Loan into a 20-Year
Fox Business, Mar. 8, 2020–Suzanne O’HalloranQuicken Loans, coming off a record week of business, is seeing more customers refinance existing mortgages in exchange for a shorter duration but not necessarily …
The Receding American Dream
Axios, Mar. 7, 2020–Erica Pandey, Courtenay BrownThere are bright spots. Around 65% of American families own homes. That’s up from recession-era lows and mirrors the U.S. homeownership rate of much …
A $60 Billion Housing Grab by Wall Street
New York Times, March 5, 2020–Francesca MariHundreds of thousands of single-family homes are now in the hands of giant companies — squeezing renters for revenue and putting the American dream …
Transformation and Exit Costs Lead to Large 4Q Loss for Altisource
National Mortage News, Mar. 6, 2020–Brad Finkelstein (subscription)https://www.nationalmortgagenews.com/news/transformation-and-exit-costs-lead-to-large-4q-loss-for-altisource
Fed’s Bullard Faults Markets For Coronavirus Pessimism
Wall Street Journal, Mar. 6, 2020–Michael S. Derby (subscription)St. Louis Fed leader James Bullard said Friday financial markets appear to be bracing for a much worse impact from the coronavirus …
Mortgage Hiring Wavers, But May Soon Spike as Virus Fears Lower Rates
National Mortgage News, Mar. 6, 2020–Bonnie Sinnock (subscription)Nonbank mortgage employment fell in January, but could subsequently surge as lenders seek to capture business while rates are low, the job outlook …
Record Number of Borrowers Can Now Save on a Mortgage Refinance as Rates Drop over Coronavirus Fears
CNBC, Mar. 6, 2020–Diana Olick That drop means that now nearly 13 million borrowers can save money by refinancing their home loans and lowering their current rates by at least …
NAR Joins MBA, Others in Canceling Upcoming Conferences Over Coronavirus
HousingWire, Mar. 6, 2020–Ben LaneFears over the spread of coronavirus have already caused the Mortgage Bankers Association and several federal regulators to cancel upcoming conferences, but they’re not the only …