Category: Top National News

World Property Journal, Oct. 17, 2018–Michael GerrityThe Mortgage Bankers Association expects to see $1.24 trillion in purchase mortgage originations in the U.S. during 2019 – a 4.2 percent increase from 2018. MBA anticipates refinance originations will continue to trend lower next year, decreasing by 12.4 percent to $395 billion.

Wall Street Journal, Oct. 17, 2018–Ryan Tracy, Leslie Scism, Allison Prang (subscription)The Financial Stability Oversight Council unanimously rescinded Prudential’s designation as a “systemically important financial institution,” a label that comes with tighter scrutiny from the Federal Reserve.

National Mortgage News, Oct. 17, 2018–Brad Finkelstein (subscription)MGIC Investment Corp.’s quarterly earnings were again driven by better-than-expected loss development, and those favorable results should be seen in the other private mortgage insurers’ results as well, an industry analyst said.

HousingWire, Oct. 17, 2018–Ben LaneRealPage will pay $3 million in a settlement with the Federal Trade Commission, which accused the real estate tech and data company of providing landlords and property managers with faulty tenant screening results over a five-year period.

Mortgage Daily, Oct. 17, 2018Ellie Mae said average credit scores increased on last month’s mortgage production, while averaged debt-to-income ratios declined.

Mortgage Daily, Oct. 17, 2018A TransUnion report predicts borrowing against home equity is poised for growth. Lenders can maximize this opportunity by personalizing marketing based on how individual consumers use these loans.

Wall Street Journal, Oct. 17, 2018–Nick Timiraos (subscription)Federal Reserve officials are debating whether they will need to raise interest rates to levels sufficient to slow down a fast-growing economy to prevent it from overheating, minutes of the central bank’s last policy meeting show.

National Real Estate Investor, Oct. 17, 2018–Bendix Anderson Apartment rentals have been luring residents away from other kinds of housing since the housing crash, and that is not likely to change in the foreseeable future as new housing preferences and low ownership affordability drive greater demand for apartment rentals.

Progress in Lending, Oct. 17, 2018–Tony GarritanoAccording to a recently published working paper by researchers at the Federal Reserve Bank of New York and New York University, fintech lenders have quickly expanded their market share since the Financial Crisis, and in the process have developed efficiencies that give them a significant advantage over more traditional lenders.

HousingWire, Oct. 16, 2018–Caroline BasileAcademy Award-winning actor Geena Davis discussed female representation in media and answered audience questions during her hour-long keynote speech at the Mortgage Bankers Association’s mPower luncheon at its annual conference.