Reuters, Jan. 17, 2019–Pete Schroeder, Suzanne Barlyn, Michelle PriceThe U.S. government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the U.S.- Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations.
Category: Top National News
A Breakdown of the Government Shutdown’s Impact on CRE
National Real Estate Investor, Jan. 16, 2019–Beth Mattson-TeigThe federal government shutdown that is now rapidly approaching the one-month mark is creating both direct and indirect ripple effects on the commercial and residential real estate sectors.
Mortgage Lenders May Need to Contend with Higher Default Rates
National Mortgage News, Jan. 15, 2019–Bonnie Sinnock (subscription)Consecutive-month default rates for home loans are increasing, and they could remain higher the next few months, according to data from Standard & Poor’s Dow Jones Indices and Experian.
Mr. Cooper Laying Off 109 Mortgage Employees in California
HousingWire, Jan. 15, 2019–Ben Lane”We recently restructured some of our departments within our originations organization and, while we regret a small number of positions were eliminated, we believe our changes will further our strategic goals and best position us for continued growth in the market,” the company said.
Fed’s George Turns Dovish, Makes Case for ‘Pause’ on Rate Hikes
Reuters, Jan. 15, 2019–Ann SaphirIn a remarkable shift by one of the U.S. central bank’s most hawkish policymakers, Esther George, president of the Federal Reserve Bank of Kansas City, on Tuesday made the case for patience and caution on interest rate hikes to avoid choking off growth.
Why Mortgage Lending at Wells Fargo, Chase and Citi Plunged
MarketWatch, Jan. 15, 2019–Andrea RiquierWith earnings from three of the four biggest banks in, one metric stands in sharp relief. Mortgage lending just keeps plunging.
MBA Names New MORPAC and MAA Chairmen
National Mortgage Professional, Jan. 15, 2019–Phil HallEduardo “Eddy” Perez, president of Equity Prime Mortgage LLC, will serve as MORPAC chairman and Jeffrey C. Taylor, Co-Founder and Managing Director of Digital Risk LLC, will chair the Mortgage Action Alliance.
Analyst Predicts Weak Year for HELOCs
HousingWire, Jan. 15, 2019–Jessica GuerinMany predict the Federal Reserve will raise interest rates in the year ahead, and this means HELOC borrowers can expect their loan payments to creep upward.
Thanks to Lower Mortgage Rates, 550K Homeowners Could Save by Refinancing
The Mortgage Reports, Jan. 14, 2019–Aly J. YaleAccording to the Mortgage Bankers Association, refinance application volume was up 35 percent at the start of the year. According to Joel Kan, associate vice president of economic and industry forecasting at MBA, homeowners with larger loan sizes are showing the most interest in refinancing.
Challenge of CFPB Falls Short as Supreme Court Passes on Case
National Mortgage News, Jan. 14, 2019 (subscription)The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation.