Reuters, Feb. 5, 2020–Lucia MutikaniThe U.S. trade deficit fell for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, …
Category: Top National News
Genworth’s U.S. Mortgage Insurance Business Nearly Doubles in 4Q
National Mortgage News, Feb. 5, 2020–Brad Finkelstein (subscription)The U.S. mortgage business remained a bright spot for Genworth Financial, whose fourth quarter adjusted operating income increased by 29 percent.https://www.nationalmortgagenews.com/news/genworths-u-s-mortgage-insurance-business-nearly-doubles-in-4q19
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Wall Street Journal, Feb. 5, 2020–Leslie Scism (subscription)Property-and-casualty insurance giants Chubb Ltd. and Allstate Corp. posted strong profit gains in the fourth quarter, thanks to fewer catastrophe claims and premium …
Coronavirus Could Push Mortgage Rates to All-Time Low
HousingWire, Feb. 5, 2020–Kathleen HowleyAn increase in competition for bonds means investors, including the people who buy mortgage-backed bonds, have to take lower yields. That translates into lower mortgage rates.https://www.housingwire.com/articles/coronavirus-could-push-mortgage-rates-to-all-time-lows/
JPMorgan Mulls Return to FHA-Backed Mortgages After Era of Fines
American Banker, Feb. 5, 2020FHA insured $215 billion in loans last year, representing more than 11% of mortgages issued in the U.S., according to HUD. Banks can use the loans …
Weekly Mortgage Refinance Applications Jump 15% as Interest Rates Plunge to Lowest Level in Nearly 4 Years
CNBC, Feb. 5, 2020–Diana OlickRefinance demand pushed mortgage application volume up 5% for the week to the highest level since 2013, according to the Mortgage Bankers Association’s seasonally adjusted index. …
Loan Marketplace LendEDU Accused of Selling Its Lender Rankings to the Highest Bidder
HousingWire, Feb. 4, 2020–Ben LaneLendEDU, a website that purportedly offers unbiased reviews, ratings and rankings of lenders and other financial services providers, was actually selling its ranking to the “highest …
FHFA Redefining Itself Ahead of GSE Overhaul
National Mortgage News, Feb. 4, 2020–Hannah Lang (subscription)For much of the past 12 years, the focus of theFederal Housing Finance Agency has been to manage the fallout from the collapse …
Survey Tracks Debt Burdens in the 2020s
National Mortgage Professional, Feb. 4, 2020–Phil HallWe might be traveling deeper into a new decade, but many Americans are carrying over too much debt from the previous 10-year stretch, according …
Growing the Role of Non-Bank Lenders
MReport, Feb. 4, 2020–Seth Welborn“It’s time to make the system reflect the market that it serves,” said Pete Mills, SVP of residential policy at the Mortgage Bankers Association.https://themreport.com/daily-dose/02-04-2020/growing-the-role-of-non-bank-lenders