National Mortgage News, July 11, 2018–Bonnie Sinnock (subscription)Greater consumer access to credit could help mortgage bankers replenish originations eroded by higher rates, but they are reluctant to depart from the status quo to provide it.
Category: Top National News
Millennial Credit Scores Tell Very Different Story by City
National Mortgage News, July 11, 2018–Elina Tarkazikis (subscription)The average millennial borrower credit score remained unchanged in May, but values by city painted very different pictures, according to Ellie Mae.
Trump Administration Says Task Force Will Fight Consumer Fraud
Wall Street Journal, July 11, 2018–Yuka Hayashi (subscription)Trump administration officials on Wednesday promised to maintain a focus on fraud against consumers, particularly the elderly and service members, using the resources of several regulatory and law-enforcement agencies.
CoreLogic and The Columbia Institute to Launch Appraiser Training Program
HousingWire, July 11, 2018–Jeremiah JensenCoreLogic and its subsidiary The Columbia Institute are launching an appraiser training program. The impetus behind the program is to bolster the ranks of appraisers in the nation with tech-savvy talent from diverse backgrounds.
Banks Take Mortgage Market Share from Non-Banks
Mortgage Daily, July 11, 2018–Sam GarciaSingle-family loan originators generated $416 billion in mortgage production during the first quarter of this year, according to an estimate from Mortgage Daily, with banks taking market share from nonbanks.
FHA False Claims Actions Among Industry Concerns
Mortgage Daily, July 11, 2018Genworth Mortgage Insurance reported 44 percent of industry executives polled at the recent MBA National Secondary Market Conference believe removing legal uncertainty surrounding the origination of loans insured by the Federal Housing Administration is the best way to improve access to mortgage credit.
Quantum Leap: How Banks Can Get Most from Cutting-Edge Tech
American Banker, July 11, 2018–Penny Crossman (subscription)Quantum computing and to a lesser extent blockchain and artificial intelligence feel like far-off, futuristic technologies to many bankers. But in a panel discussion at In|Vest Wednesday, a bank executive and several startup leaders made the case for the practical use of these technologies in banking and wealth management.
U.S. Producer Inflation Rises on Strong Services Gains
Reuters, July 11, 2018–Lucia MutikaniU.S. producer prices increased more than expected in June amid gains in the cost of services and motor vehicles, leading to the biggest annual increase in 6-1/2 years.
Tax Reform’s Underrated Commercial Real Estate Impact Amid Residential Frenzy
Daily Business Review, July 9, 2018–Jaime Sturgis Following the approval of the federal tax reform bill, much of the discussion has centered on the legislation’s disproportionately negative impact on tax-heavy states and the anticipated influx of residents from those states relocating to tax-free states like Florida.
Mortgage Tech Enables Lenders to Close Without LO
Mortgage Daily, July 9, 2018An enhancement to a widely used loan origination platform can enable a home lender to close a loan without a mortgage originator–though some clients require a human touch.