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.
Category: Top National News
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.
Record Hirings, Lending Expected at Guaranteed Rate
Mortgage Daily, June 4, 2018Guaranteed Rate Inc., which has seen its headcount grow by more than a thousand people over the past three years, expects to hire a record number of new employees this year to handle expected record originations.
IndyMac’s Former Reverse Unit Sold
Mortgage Daily, June 4, 2018On Monday, CIT Group Inc. said it completed the sale of its Financial Freedom reverse mortgage unit.
Homebuyers Can Reap Bargains Thanks to Growing Lender Competition
Washington Post, June 4, 2018–Kenneth R. HarneyMichael Fratantoni, chief economist for the Mortgage Bankers Association, the industry’s largest trade group, says the “typical” lender in the U.S. may “not be profitable” when the books are closed on the first quarter.
How a CFPB Overhaul of the QM Rule will Remake Mortgages
National Mortgage News, June 4, 2018–Brad Finkelstein (subscription)With the Consumer Financial Protection Bureau in the midst of reviewing the qualified mortgage rule, mortgage lenders and the secondary market are closely watching to see if the more industry-friendly bureau will loosen some of the consumer protections established by the Dodd-Frank Act provision.
Banks Pay Out Some of the Biggest Settlements in Wage Disputes
Wall Street Journal, June 5, 2018–Lauren Weber (subscription)Financial-service companies occupy half the spots on a list of the 12 employers that paid the most in legal disputes over pay for workers since 2000, said Good Jobs First, an organization that tracks legal violations at large companies.
Black Knight Seeks AI Might with HeavyWater Deal
National Mortgage News, June 4, 2018–Bonnie Sinnock (subscription)Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup’s borrower data verification and other automation capabilities into its existing product suite.