National Mortgage News, Sept. 20, 2018–Elina Tarkazikis (subscription)Fiserv Lending Solutions rebrand to Sagent Lending Technologies reflects the company’s focus on a more efficient process for mortgage and consumer lenders. The move comes after Fiserv agreed to sell a majority stake of its mortgage and consumer loan origination and servicing business to private-equity firm Warburg Pincus in February.
Category: Top National News
HousingJobs: Why the Job Market For Loan Officers is Promising
HousingWire, Sept. 20, 2018–Alyssa StringerEmployment of loan officers is expected to grow 11% from 2016 to 2026, faster than the average for all occupations.
Wells Fargo Plans to Cut Staffing Up to 10% in Three Years
Bloomberg, Sept. 20, 2018–Hannah LevittWells Fargo & Co. plans to trim its workforce by about 5 percent to 10 percent within the next three years as Chief Executive Officer Tim Sloan works to pull the bank clear of a series of customer-abuse scandals and prop up a lagging stock price.
In Deregulaory Era, Trump Picks a Throwback for Fed Board
American Banker, Sept. 20, 2018–Neil Haggerty (subscription)At a time when the Trump administration is mostly appointing regulators eager to roll back post-crisis regulations, the nomination of Nellie Liang to a seat on the Federal Reserve Board is something of a throwback.
Refi Declines Wipe Out Purchase Gains
Mortgage Daily, Sept. 21, 2018Mortgage originations are expected to sink to $370 billion in the fourth quarter then deescalate further, to $328 billion, during the first-three months of next year, the Mortgage Bankers Association said.
FHA Delinquency Tumbles, Endorsements Edge Up
Mortgage Daily, Sept. 20, 2018FHA reported a monthly up tick in new business, though a dip will likely follow. Single-family delinquency tumbled 48 basis points.
U.S. Household Net Worth Almost $10 Trillion in Second-Quarter 2018
Reuters, Sept. 20, 2018–Lindsay DunsmuirU.S. households added nearly $2.2 trillion to their wealth from April to June this year, the Federal Reserve said on Thursday.
And the Women in Housing Award Recipients Are…
DS News, Sept. 19, 2018Marcia Davies, COO of the Mortgage Bankers Association, received the Laurie A. Maggiano Legacy Award, which was named in honor of the late industry icon whose distinguished career left an indelible impact on housing.
Mortgage Fraud by Wannabe Home Buyers is on the Rise. And You Can Blame the Internet For It.
Washington Post, Sept. 19, 2018–Kenneth HarneyPrices are up, interest rates are rising and it’s tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.
Weekly Mortgage Applications Rise 1.6% as Interest Rates Hit a 7-Year High
CNBC, Sept. 19, 2018–Diana OlickTotal mortgage application volume increased 1.6 percent last week compared with the previous week, the Mortgage Bankers Association reported. Rising interest rates for home loans may be what’s getting borrowers back to their brokers.