MarketWatch, June 5, 2018–Andrea RiquierThe affected branches are in Indiana, Michigan, Ohio and Wisconsin. Nearly 500 Wells employees at those locations will receive job offers from Flagstar.
Category: Top National News
There are More Jobs than People Out of Work, Something the American Economy Has Never Experienced Before
CNBC, June 5, 2018–Jeff CoxThere are 6.7 million job openings and just 6.4 million available workers to fill them, according to the Bureau of Labor Statistics.
High Home Prices And Rising Mortgage Rates Aren’t Stopping Sales
Forbes, June 5, 2018–Aly YaleMortgage rates hit their highest point in seven years last month, and home prices have jumped 6.5 percent since mid-2017. But somehow, home buying isn’t slowing down.
Angel Oak Commercial Lending Buys Stake in Cherrywood Mortgage
National Mortgage News, June 5, 2018–Bonnie Sinnock (subscription)Angel Oak Commercial Lending has acquired a controlling interest in lender Cherrywood Mortgage in order to strengthen its focus on small-balance commercial lending.
U.S. House Prices to Rise Twice the Speed of Inflation and Pay
Reuters, June 6, 2018–Hari Kishan, Rahul KarunakarAn acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth.
Multifamily Investors Face a Cutback in Loan Size
National Real Estate Investor, June 5, 2018–Bendix Anderson Rising interest rates are already making a difference for apartment properties. Borrowers can no longer secure the large permanent loans that have become used to.
HousingWire to Be Presenting Sponsor at Ellie Mae Classic Golf Tournament
HousingWire, June 4, 2018–Ben LaneCharitable proceeds from the event will benefit the Mortgage Bankers Association’s Open Doors Foundation, which provides financial relief to families during a time of crisis.
Rising Risks: Hurricane Season and the Housing Market
CNBC, June 4, 2018–Diana OlickHurricane season has begun and it looks like it will weigh on the housing market.
Tech-Based Mortgage Lenders: Fast and Flourishing
Bankrate, June 4, 2018–Barry BridgesWhat factors contributed to online lenders quadrupling their market share in six years? Other findings in The Role of Technology in Mortgage Lending suggest that convenience and efficiency played significant roles.
First-Time U.S. Homebuyers Account for Almost Half of Mortgages
Bloomberg, June 4, 2018–Prasant Gopal (subscription)First-time buyers accounted for 46 percent of new mortgages (excluding refinancings) that Freddie Mac backed in the first quarter, their biggest quarterly share in data going back to 2012.