Tribune Content Agency, Feb. 21, 2020Corporations that own California properties could soon be fined for keeping homes vacant for more than three months under a proposed law to give tenants, …
Category: Top National News
Quicken Loans Hits ‘Pause’ on One Reverse Mortgage, Moving All Employees to Rocket Mortgage
HousingWire, Feb. 21, 2020–Ben LaneOne Reverse Mortgage will cease originating new reverse mortgages and all of the company’s employees will move to Rocket Mortgage. The company said the decision comes …
White House Taps Dana Wade as Next FHA Chief
National Mortgage Professional, Feb. 21, 2020–Phil HallRobert D. Broeksmit, president and CEO of the Mortgage Bankers Association, welcomed the nomination, noting Wade’s “extensive knowledge gained in previous roles, including on …
Wells Fargo to Pay $3B Settlement for Violating Antifraud Rules, Resolving Fake Account Probes
USA Today, Feb. 21, 2020–Paul Davidson, Jessica MentonWells Fargo has agreed to pay $3 billion to settle claims related to its creation of millions of fake accounts to meet sales …
Fed’s Mester Calls for Greater Transparency after Policy Meetings
Reuters, Feb. 21, 2020–Jonnelle MarteFederal Reserve officials should be more transparent and release more information after monetary policy meetings to help shape market expectations, Cleveland Fed President Loretta Mester said …
Increasing Amount of Americans Getting Mortgages Before Marriage Licenses
HousingWire, Feb. 21, 2020–Julia FalconThe first-time homebuyer composition is now mirroring the change in marriage rates. In the 1960s, more than seven in 10 American homeowners were married. Two decades …
GSEs May be Freed with Treasury Backstop, Mnuchin Says
Bloomberg, Feb. 21, 2020–Elizaeth DexheimerFannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are freed from U.S. control, Treasury Secretary Steven Mnuchin said …
Brainard Says Rate Policy May Need to Be Accommodative for a Long Time
Wall Street Journal, Feb. 21, 2020–Nick Timiraos (subscription)Interest rates will need to remain at historically low levels for a lengthy period to return inflation to the Federal Reserve’s 2% inflation …
How Will Artificial Intelligence Change The Commercial Real Estate Industry?
Forbes, Feb. 21, 2020–Parag Goswami The ongoing adoption of AI and automation technologies will transform the way people work and disrupt industries including real estate.https://www.forbes.com/sites/forbesrealestatecouncil/2020/02/21/how-will-artificial-intelligence-change-the-commercial-real-estate-industry/#43d96c0b24f8
Here’s What Top Mortgage Originators Did in 2019 to Beat Rivals
Mortgage Professional America, Feb. 21, 2020–Candyd Mendoza The growing costs of loan production are driving mortgage originators to find new ways to rise above the competition.https://www.mpamag.com/news/non-prime/heres-what-top-mortgage-originators-did-in-2019-to-beat-rivals-214414.aspx