Reuters, May 21, 2018–Nikhil SubbaU.S. regional bank Fifth Third Bancorp on Monday said it would buy MB Financial Inc in a stock-and-cash deal valued at about $4.7 billion.
Category: Top National News
MBA Secondary: Leaders of Big Banks and IMBs Agree–A Shakeout is Coming
HousingWire, May 20, 2018–Sarah WheelerThe mood was upbeat as the Mortgage Bankers Association Secondary Market Conference and Expo kicked off in New York City on Sunday with a panel on executive perspectives, but the message from the first panel contained a warning.
Commercial Lending Posts Surprise Uptick in Q1
Scotsman Guide, May 17, 2018–Victor WhitmanThe Mortgage Bankers Association released the findings of its first-quarter survey of commercial/multifamily bankers on Thursday, and it showed that commercial mortgage origination volume unexpectedly rose, compared to last year’s first quarter.
Surging Mortgage Rates Set Off Scramble to Buy Homes
Bloomberg, May 17, 2018–Prashant GopalU.S. homebuyers, already contending with escalating prices, now are getting hit with the most-expensive mortgage rates in seven years. Funny thing: It’s only making them move faster.
Mortgage Rates Reach Levels Not Seen in Seven Years
Washington Post, May 17, 2018–Kathy OrtonAccording to data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.61 percent with an average 0.4 point. It was 4.55 percent a week ago and 4.02 percent a year ago. The 30-year fixed rate hasn’t been this high since May 2011. (MBA mention)
Are We Headed for a Housing Slowdown this Summer?
HousingWire, May 17, 2018–Ben LaneMortgage interest rates just hit the highest level in seven years, but those in the lending trenches already knew that, right? That news shouldn’t come as a surprise to those of you who live and breathe the mortgage business.
Mortgages Outstanding Up Despite Origination Drop
Mortgage Daily, May 17, 2018As of March 31, there were $8.94 trillion in U.S. residential loans that were outstanding, according to data reported Thursday by the Federal Reserve Bank of New York.
Mortgage Rates Climb to 7-Yr High, To Rise Further
Mortgage Daily, May 17, 2018–Sam GarciaEllie Mae Inc. reported in its Origination Insight Report that 30-year note rates averaged 4.79 percent on home loans closed during April.
QM Revamp Could Mean Separate Rules for Banks, Internet Lenders
National Mortgage News, May 17, 2018–Kate Berry (subscription)Should regulators treat traditional banks and credit unions exactly the same as technology-driven lenders when vetting their mortgage underwriting standards? That is the central question to emerge following recent comments by acting Consumer Financial Protection Bureau Director Mick Mulvaney that the bureau may ease its Qualified Mortgage rule.
MBA: Mortgage Delinquencies Down in Q1
HousingWire, May 17, 2018–Jeremiah JensenAccording to the Mortgage Bankers Association, foreclosures are up slightly despite delinquencies falling to pre-housing crisis lows and continuing to slide.