Category: Top National News

Forbes, May 30, 2018–Evan GentryDespite fears of trade wars and increased protectionism, foreign investment in the United States remains robust. A significant amount of this capital is flowing to commercial real estate, which continues to be the sector of choice for many foreign investors.

Wall Street Journal, May 30, 2018–Sarah Chaney, Sharon Nunn (subscription)Economic activity expanded at a moderate pace across most of the U.S. this spring, driven in part by a pickup in manufacturing activity despite trade tensions, according to a Federal Reserve report released Wednesday.

Washington Post, May 30, 2018–Kenneth HarneyThe two biggest sources of home-mortgage money in the country, investors Fannie Mae and Freddie Mac, are quietly working on ways to make qualifying for a home purchase easier for participants in the booming “gig” economy.

National Mortgage News, May 30, 2018–Brad Finkelstein (subscription)The ability-to-repay standard is responsible for the reduction in loan application defects over the past four-plus years, according to First American Financial Corp.

Wall Street Journal, May 30, 2018–Shayndi Rice (subscription)Austin Steinbach said he was “dead set” on moving to rural farming town Columbus, Neb., for a job that offered benefits, a $500 signing bonus and a higher wage. But the 25-year-old father of two had to turn it down after a week-long search with his wife for a home failed to turn up anything livable or in their price range.

HousingWire, May 30, 2018–Kelsey RamirezThe Federal Reserve explained it is seeking to reducing banks’ compliance costs while maintaining the rule’s effectiveness and consistency.

Mortgage Daily, May 30, 2018Among S. 2155’s provisions is a prohibition of Ginnie Mae guaranteeing mortgage-backed securities containing certain loans guaranteed by the Department of Veterans Affairs.

Mortgage Daily, May 30, 2018First California Mortgage Co. reportedly laid off all of its employees and ended lending operations.

Reuters, May 30, 2018–Lucia MutikaniU.S. economic growth slowed slightly more than initially thought in the first quarter as consumer spending rose at its weakest pace in nearly five years, but activity is already picking up against the backdrop of a tightening labor market and tax cuts.

MarketWatch, May 29, 2018–Peter MoriciThe spring home-buying season is in full swing, but the landscape has changed a lot from last year. Congress curtailed tax incentives to purchase a home, mortgage rates are up and homes are more expensive. Yet buying a home is still better than renting for many.