The M Report, Feb. 24, 2020–Mike AlbaneseAltisource said 22 percent of people surveyed listed artificial intelligence as the most important factor in a competitive mortgage market. (MBA mention)https://themreport.com/daily-dose/02-24-2020/the-state-of-mortgage-originations-in-a-new-decade
Category: Top National News
Non-QM Lender Citadel Bought by Investment Partners
HousingWire, Feb. 24, 2020–Ben LaneCitadel Servicing, a growing lender that specializes in non-Prime and non-Qualified Mortgage lending, known as non-QM, now has a new owner.https://www.housingwire.com/articles/non-qm-lender-citadel-bought-by-hps-investment-partners/
FHFA to Take Closer Look at FHLB Membership Rules
National Mortgage News, Feb. 24, 2020–Hannah Lang (subscription)The agency plans to conduct a review of how it regulates the 11 Federal Home Loan banks amid concerns that some companies are …
Biden Releases $640 Billion Housing Plan
National Mortgage Professional, Feb. 24, 2020–Phil HallFormer Vice President Joe Biden is seeking to reanimate his struggling campaign for the Democratic presidential nomination with a new $640 billion housing plan …
Union Home Mortgage Plans Major Expansion in Strongsville
Cleveland.com, Feb. 24, 2020–Bob SandrickUnion Home Mortgage will add 450 workers to its Strongsville roster of 350 workers over the next three years.https://www.cleveland.com/business/2020/02/union-home-mortgage-to-more-than-double-its-number-of-workers-in-strongsville-add-third-building.html
JPMorgan Sees a Mortgage Revival After Years of Quiet Losses
Bloomberg, Feb. 24, 2020–Michelle F. DavisWith interest rates and unemployment at rock-bottom lows and home values rising, the part of JPMorgan’s retail business that sells home loans to consumers — …
Election 2020: Is Nightmare Scenario Closer to Reality For Banks?
National Mortgage News, Feb. 24, 2020–Neil HaggertyBernie Sanders’ rise to front-runner status for the Democratic nomination worries many bankers, but their opinions diverge on his electoral chances and whether a …
The Refinancing Process is Still Daunting, But a Little Less So Now
WTOP News, Feb. 24, 2020–Jeff Clabaugh If you are about to refinance a mortgage, be prepared to invest several hours on paperwork. But the process is not as difficult as …
Coronavirus Fears Could Push Mortgage Rates Past 4-Year Low
CNBC, Feb. 24, 2020–Diana OlickAs coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward a four-year low. They …
Wells Fargo CEO to Testify Before House Lawmakers in March
American Banker, Feb. 21, 2020–Brendan Pedersen (subscription)The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.https://www.americanbanker.com/news/wells-fargo-ceo-to-testify-before-house-lawmakers-in-march