Scotsman Guide, May 8, 2018–Victor WhitmanOverall mortgage credit availability held steady in April even as government loan programs tightened slightly, the Mortgage Bankers Association reported.
Category: Top National News
Forget Owning, Renting is Becoming the End Game for Many Millennials and Baby Boomers
Washington Post, May 8, 2018–Robert PinnegarInstead of viewing renting as a short-term phase, an increasing number of residents are choosing rental housing specifically because it offers a more flexible lifestyle than homeownership.
8 Mortgage Facts Revealed in the Latest HMDA Data
National Mortgage News, May 8, 2018–Elina Tarkazikis, Brad Finkelstein (subscription)There were one million fewer mortgages originated in 2017 compared to 2016, according to new Home Mortgage Disclosure Act data released by the Federal Financial Institution Examination Council and Consumer Financial Protection Bureau.
Companies With the Most Complaints in CFPB Database Were Mulvaney Donors
Public Citizen, May 8, 2018–Michael TanglisEight of the 10 financial institutions that are the subjects of the most complaints in the Consumer Financial Protection Bureau public database contributed to acting Director Mick Mulvaney while he was in Congress, according to an analysis published by Public Citizen.
Civil Rights Groups Challenge HUD’s Fair Housing Enforcement
New York Times, May 8, 2018–Glenn ThrushCivil rights advocates sued the Trump administration on Tuesday over enforcement of the 50-year-old Fair Housing Act, part of an effort to prevent discrimination in the allocation of funds for Gulf Coast hurricane housing and infrastructure reconstruction.
Mortgage Demand Down at Big Banks, Up at Small
Mortgage Daily, May 9, 2018Although demand for several single-family products has softened at larger financial institutions, smaller ones are seeing growing demand–especially on non-agency loans. It was similar for commercial real estate, the Federal Reserve said.
Massive Secondary Mortgage Sale
Mortgage Daily, May 8, 2018Capital One Financial Corp. is selling the loans to Credit Suisse AG-subsidiary DLJ Mortgage Capital Inc. The loan sale follows Capital One’s previously announced exit from the origination of residential and home-equity loans.
How Easy is it to Get a Mortgage?
Washington Post, May 9, 2018–Michele LernerThe rate of would-be borrowers getting turned down for a mortgage is almost half of what it was a decade ago, according to an analysis by real estate marketplace Zillow, but that doesn’t mean you’re guaranteed a loan approval.
Equifax Reveals How Much Information was Really Exposed in Data Breach
HousingWire, May 8, 2018–Caroline BasileIn a new filing with the Securities and Exchange Commission, the credit reporting agency broke down in detail the types of–and how much exactly–sensitive personal information was exposed to hackers in the breach.
U.S. Job Openings Hit Record High, More Workers Quitting
Reuters, May 8, 2018–Lucia MutikaniU.S. job openings surged to a record high in March, suggesting that a recent slowdown in hiring was probably the result of employers having difficulties finding qualified workers.