Category: Top National News

Wall Street Journal, July 9, 2018–Ryan Dezember, Laura Kusisto (subscription)Investors wager that high prices, higher mortgage rates and skimpy inventory are making homeownership harder for individuals and families.

CNN, July 6, 2018–Dona BorakLeandra English, a top Consumer Financial Protection Bureau official, is stepping down from the agency and ending a legal fight to become acting chief.

HousingWire, July 9, 2018–Jessica GuerinAmerican homeowners have record amounts of equity in their homes, but the percentage of tappable equity withdrawn fell in the first quarter of 2018, according to data released Monday by Black Knight.

American Banker, July 6, 2018–Andy Peters (subscription)JLL said in a recent report that this mass relocation to less-expensive space could save banks–all of which are trying to reduce overhead any way they can–an estimated $800 million a year in real estate costs.

Washington Post, July 6, 2018–Jonelle MarteIn many ways, African Americans have regained the ground lost during the financial crisis. Many are finding jobs and getting raises. But the holy grail of homeownership remains elusive. Forty-three percent of blacks owned homes in 2017, according to an annual report from the Joint Center for Housing Studies of Harvard University.

Mortgage Daily, July 6, 2018An indication of upcoming loan originations, the U.S. Mortgage Market Index from Mortgage Daily for the seven days ended July 6, was 98–the lowest level since it was 92 in the week ended Jan. 5.

Mortgage Daily, July 6, 2018The American Bankruptcy Institute reported a month-over-month and year-over-year reduction in the number of new consumer bankruptcy cases.

UExpress, July 6, 2018–Lew SichelmanThe main problem is that no matter what the buyer is willing to pay, it’s the appraisal on which the lender bases its decision about how much to lend.

National Mortgage News, July 5, 2018–Elina Tarkazikis (free article)The Consumer Financial Protection Bureau’s practice of “regulation by enforcement” and use of nonbinding guidance materials makes its regulatory efforts “unfair and ineffective” to lenders and servicers, claims the Mortgage Bankers Association.

Washington Post, July 5, 2018–V. Dion HaynesMortgage rates continued their month-long slide, according to data released Thursday, giving new–but temporary–hope to millennial buyers struggling to piece together a down payment amid soaring home prices and lackluster wage growth. (MBA mention)