Mortgage Daily, Oct. 24, 2018Quarterly originations slowed at Guild Mortgage Co., though year-to-date volume ascended to a record high. The servicing portfolio also reached a new record, and staffing hasn’t changed much over the past year.
Category: Top National News
Stuck in Neutral: CMBS Issuance Stalls Amid Stiff Competition
National Real Estate Investor, Oct. 24, 2018–Beth Mattson-TeigCommercial mortgage-backed securities lenders are working harder to retain market share in a highly competitive sector where the overall pie for conduit lending doesn’t appear to be getting any bigger.
Two Channels Battle for the Purchase Mortgage Market
HousingWire, Oct.23, 2018–Clayton CollinsLast week, the mortgage industry gathered in Washington D.C. for three hard-charging days of meetings, demos and general sessions at MBA Annual. Speakers dug deep into forecasted growth in purchase market and GSE conservatorship. Anthony Hsieh and Bill Emerson shared perspectives on Amazon entering the mortgage industry and some viewpoints on the wholesale market.
New MBA Council Focuses on Commercial Real Estate
National Mortgage Professional, Oct. 23, 2018–Phil HallThe new body, which will replace the MBA’s Investor Council, is designed to formulate ideas about investment in commercial real estate debt. It will also present information on market trends and develop best practices and industry standards. Council members will include professionals from life insurance companies, banks, securitized lenders, debt funds and government-backed capital sources.
Flagstar’s Move to Diversify Beyond Mortgages Pays Off
National Mortgage News, Oct. 23, 2018–Brad Finkelstein (subscription)Despite an overall weak mortgage originations market, Flagstar Bancorp’s third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.
Boise and Reno Capitalize on the California Real Estate Exodus
Bloomberg Businessweek, Oct. 23, 2018–Prashant Ghopal, Noah BuhayarFor some Californians, the state’s punishing housing costs, high taxes, and constant threat of natural disaster have all become too much. They’re making their escape to areas such as Boise, Phoenix, and Reno, Nev., fueling some of the biggest home-price gains in the country.
Trump Steps Up Attacks on Fed Chairman Jerome Powell
Wall Street Journal, Oct. 23, 2018–Multiple Staff (subscription)President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell, saying the head of the nation’s central bank threatened U.S. economic growth and appeared to enjoy raising interest rates.
Mortgage Firms Spend Less than Others on Fraud, But Costs Still Add Up
National Mortgage News, Oct. 23, 2018–Bonnie Sinnock (subscription)Bigger digital mortgage firms are paying $3.27 for every $1 of fraud, while other digital creditors in the same size range are paying $3.47, according to LexisNexis Risk Solutions’ 2018 True Cost of Fraud report.
CoreLogic to Buy Out Symbility Solutions
HousingWire, Oct. 23, 2018–Jeremiah JensenCoreLogic is buying Symbility Solutions, a subscription and cloud-based property insurance claims workflow company.
Three Big States Account for Nearly a Third of Complaints to CFPB
American Banker, Oct. 23, 2018–Hannah Lang (subscription)More than 30% of the customer complaints lodged about a financial institution and submitted to the Consumer Financial Protection Bureau January 2017 through June 2018 originated in one of three states: California, Florida and Texas.