Category: Top National News

National Mortgage News, June 11, 2018–Brad Finkelstein (subscription)Genworth Financial’s mortgage insurance business, which had slipped in market share, has more certainty about its future prospects after a federal government committee approved the holding company’s acquisition by China Oceanwide.

Reuters, June 11, 2018–David ShepardsonU.S. open internet rules expired on Monday, handing sweeping new powers to internet providers to block, throttle or offer paid “fast lanes” for web traffic, but a court battle remains ahead.

Mortgage Daily, June 11, 2018During the seven days that finished on June 8, the U.S. Mortgage Market Index from Mortgage Daily retreated nearly 3 percent compared to the preceding week, which included Memorial Day.

Mortgage Daily, June 11, 2018–Sam GarciaIncluded among dozens of upcoming mortgage-related events are a compliance workshop, a regulatory conference and a mortgage accounting software user event.

Wall Street Journal, June 11, 2018–Scott Calvert (subscription)Philadelphia’s City Council is weighing a proposed 1% tax on construction to raise millions of dollars for affordable-housing programs, marking the latest push by a U.S. city to address rising residential costs.

Bloomberg, June 12, 2018–Sarah Mulholland (subscription)As they battle the rise of e-commerce, U.S. mall owners are trying to clear their books of fading centers so they can focus on the most-profitable ones. That’s proving difficult, with just a shallow pool of investors who are willing to take on a declining mall and even fewer who would pay what the landlords want.

Forbes, June 8, 2018–Trefis TeamThe trend of a sequential decline in the total mortgage servicing portfolio for the five largest U.S. banks continued in the first quarter. U..S. Bancorp has bucked this trend over the years, though.

HousingWire, June 8, 2018–Kelsey RamirezTrepp, a provider of data, analytics and technology to the global securities and investment management industries, is predicting most, if not all, of the nation’s 38 largest banks will past this year’s test, despite the harsher test.

Bloomberg, June 8, 2018–Patrick Clark (subscription)Property investors have poured no small amount of money and concrete into U.S. rental apartments recently, concentrating on upscale projects in urban cores. The result is a glut of units affordable to affluent renters and far less supply for everyone else.

American Banker, June 8, 2018–Kate Berry (subscription)Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Friday that the agency fired more than 60 members of three advisory boards because the boards were simply too big. Mulvaney also said he wants some future advisory board meetings to be held in private because he fears information will be leaked to the media.