Category: Top National News

Washington Post, Aug. 23, 2018–Kathy OrtonMortgage rates haven’t done much lately, but they are at least moving in the right direction for home buyers. (MBA mention)

The Hill, Aug. 23, 2018–Sylvan LaneAll 13 Republicans on the Senate Banking Committee voted to recommend the confirmation of Kathleen Kraninger to lead the polarizing financial regulator for a five-year term, while all 12 Democrats opposed her. The Committee also approved Michael Bright as President of Ginnie Mae by voice vote.

National Mortgage News, Aug. 23, 2018–Bonnie Sinnock (subscription)Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

HousingWire, Aug. 23, 2018–Jacob GaffneyThe war of words between Quicken Loans and United Wholesale Mortgage continues.

Mortgage Daily, Aug. 23, 2018As quarterly mortgage production moved higher at Homebridge Financial Services Inc., so did the company’s servicing portfolio.

Milwaukee Business Journal, Aug. 23, 2018–Sari LeskThe companies announced the move this week. Assured Mortgage has operated for nearly 30 years and has four offices that have written mortgages for more than 25,000 customers, according to a news release. Staff at Assured Mortgage will start to join the Bell Bank Mortgage team beginning in October.

HousingWire, Aug. 23, 2018–Ben LaneThe SEC took action against Equitybuild, Equitybuild Finance, and the company’s operators, the father and son team of Jerome and Shaun Cohen, for allegedly defrauding at least 900 investors by promising guaranteed returns on real estate investments.

Charlotte Observer, Aug. 23, 2018–Deon RobertsWells Fargo is laying off 101 employees in its Charlotte-area mortgage operation, part of a nationwide cut affecting 638 employees, the company said Thursday.

USA Today, Nathan Bomey, Charisse JonesThe parent company of the two chains, Sears Holdings, announced Thursday that it would close about 5 percent of its remaining stores, all of which it said were losing money, totaling 46 stores.

CNBC, Aug. 22, 2018–Diana OlickTotal mortgage application volume rose 4.2 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was still 15 percent lower compared with the same week one year ago.