Category: Top National News

American Banker, Sept. 18, 2018–Joseph Otting (subscription)The Comptroller of the Currency says the OCC’s decision to begin accepting applications for special purpose national bank charters from fintech companies promotes innovation, gives consumers and businesses greater choice and creates economic growth and opportunity.

Wall Street Journal, Sept. 18, 2018–Josh Barbanel (subscription)A decade after the financial panic of 2008, housing prices in New York City have bounced back and recently edged above peak pre-crisis levels.

Mortgage Daily, Sept. 18, 2018Equifax said the nation’s latest book of first mortgages stands not far from the record established in 2008, when there were $9.04 trillion in first-lien loans in place.

Mortgage Daily, Sept. 18, 2018National Association of Home Builders Chairman Randy Noel warned the Trump administration’s tariffs on $200 billion in Chinese imports–including $10 billion in goods used by the residential construction sector–“could have major ramifications for the housing industry.”

Wall Street Journal, Sept. 19, 2018–Nick Timiraos (subscription)Mary Daly, director of research at the Federal Reserve Bank of San Francisco, was tapped last week to become the bank’s next president, effective Oct. 1. She will immediately have a vote on the Fed’s rate-setting committee, making her views of great interest to investors.

National Mortgage News, Sept. 18, 2018–Nathan DiCamillo (subscription)The bank pared down the application to 50 questions and made it possible for people who are already clients of the bank to have information prefilled.

HousingWire, Sept. 18, 2018–Ben LaneThe FTC claims that the Shayan brothers’ companies, Apartment Hunters, Real Estate Data Solutions, Rental Home Listings, and UAB Apartment Hunters, and their websites, WeTakeSection8.com, ApartmentHunterz.com, and FeaturedRentals.com, actually offered out-of-date listings, including many that did not accept Section 8 vouchers as promised.

National Mortgage News, Sept. 17, 2018–Bonnie Sinnock (subscription)Accessing a mortgage applicants’ data from a direct source goes a long ways toward shortening the origination process, according to 96% of mortgage underwriters responding to a recent CoreLogic survey.

MarketWatch, Sept. 17, 2018–Taylor White Owning a home, that time-honored life milestone, used to simply be what you did as an adult in America, and for many people home ownership was the ultimate indicator of life success and social status. But times have changed.

Wall Street Journal, Sept. 17, 2018–Nick Timiraos (subscription)Clarida will serve as the No. 2 to Fed Chairman Jerome Powell, who administered the oath of office. Mr. Clarida was nominated to a four-year term as vice chairman in April by President Trump, and the Senate confirmed his nomination in August on a 69-26 vote.