MarketWatch, July 16, 2017–Andrea RiquierIn “Mortgage Market Credit Conditions and U.S. Presidential Elections,” Alexis Antoniades of Georgetown University and Charles W. Calomiris of Columbia University show that changes in the availability of mortgage credit affect voting patterns in presidential elections. In turn, that influences politicians’ behavior.
Category: Top National News
Monthly Issuance Rises at Ginnie Mae
Mortgage Daily, July 16, 2018Issuance of Ginnie Mae mortgage-backed securities amounted to $36.999 billion during June, according to data released Monday by the government-owned organization.
BofA Earnings, Mortgage Originations Up
Mortgage Daily, July 16, 2018Quarterly earnings were stronger at Bank of America Corp. as originations improved. The payroll expanded, and the residential and commercial mortgage portfolios grew.
Waters, Hensarling Put Forth Massive Bipartisan Economic Growth Bill
HousingWire, July 16, 2018–Kelsey RamirezThe enormous bipartisan push for the legislative package, known as the JOBS and Investor Confidence Act of 2018, is made up of 32 individual pieces of legislation that have passed the committee or House this congressional session with broad bipartisan and sometimes even unanimous support.
Fed’s Powell Has Some Explaining to Do on Stress Test Moves
American Banker, July 16, 2018–Victoria Finkle (subscription)When Federal Reserve Chairman Jerome Powell faces lawmakers this week, one big question will almost certainly be: Is the central bank playing favorites among the big banks?
The Business Case for Sustainability in Commercial Real Estate
National Real Estate Investor, July 16, 2018–Sofya Shuster The importance of sustainability in commercial real estate as a growth engine is now recognized by market participants both on the equity and on the debt side.
Slow Spring Home Buying Drags Big Bank Mortgage Results
National Mortgage News, July 13, 2018–Bonnie Sinnock (subscription)This year’s sluggish spring home buying season led to generally softer mortgage-related second quarter results at Wells Fargo, JPMorgan Chase, Citigroup and The PNC Financial Services Group, but First Republic Bank bucked the trend.
Senate Dems Urge CFPB to Reinstate Advisory Board
National Mortgage News, July 13, 2018–Kate Berry (subscription)Sen. Robert Menendez of New Jersey and 24 other Senate Democrats have urged acting Consumer Financial Protection Bureau Director Mick Mulvaney to reinstate members of the agency’s consumer advisory board, who were fired last month, and to provide details on the firings.
Online Lenders Struggle with Cost of Originations
HousingWire, July 13, 2018–Kelsey RamirezA new study from Deloitte Center for Financial Services and LendIt Fintech shows nonbank online lenders are also struggling with the cost of funding a loan. The survey shows a full 77% of respondents listed the cost of funding among their top three concerns, and 38% said it was their top concern.
Top Housing Trade Groups Urge Congress to Extend National Flood Insurance Program
HousingWire, July 13, 2018–Alcynna LloydMore than 20 of the top housing trade groups [including the Mortgage Bankers Association] urged Congress to extend the National Flood Insurance Program.