Forbes, Apr. 9, 2018–Ely Razin Will new Deutsche Bank CEO Christian Sewing’s strategy leave the bank in place as a big player in U.S. commercial real estate, or will it bring a narrower approach that could shrink the lender’s role in U.S. real estate finance?
Category: Top National News
MGIC Cutting Mortgage Insurance Prices for Borrowers
HousingWire, Apr. 9, 2018–Kelsey RamírezMGIC announced Monday it is reducing its borrower-paid mortgage insurance premiums. The reduction will bring mortgage insurance premium rates on the most popular premium plans down by an average 11 percent. PMI stocks are falling on the news.
New Penn Financial Acquiring Envoy Mortgage’s Correspondent Lending Division
Housing Wire, Apr. 9, 2018–Ben LaneNew Penn is owned by Shellpoint Partners, which is also the parent company of Shellpoint Mortgage Servicing, Avenue 365, a title and settlement services provider, and eStreet, an appraisal management company.
More Consumers Report It’s a Good Time for home Purchases
National Mortgage News, Apr. 9, 2018–Elina Tarkazikis (subscription)Housing sentiment remained volatile in March as consumers reporting that now is a good time to buy a home rose from the previous month, according to Fannie Mae’s Home Purchase Sentiment Index.
How Did Refis Impact the 2008 Financial Crisis?
DS News, Apr. 10, 2018–David WhartonWhile there is still debate about the various factors that contributed to the 2008 financial crisis and the collapse of the housing market, a new paper by the Urban Institute suggests that the poor performance of cash-out refinances, and refinances in general, were important contributing factors.
Big Banks Find a Back Door to Finance Subprime Loans
Wall Street Journal, Apr. 10, 2018–Peter Rudegeair, Rachel Louise Ensign, Coulter Jones (subscription)Lending to nonbank financial firms surges to record as banks avoid direct exposure.
A Miami Real-Estate Developer Readies for Flying Cars
Wall Street Journal, Apr. 9, 2018–Candace Taylor (subscription)In anticipation of air taxis from Uber and others, the builder of a 60-story condo tower in Miami is laying the groundwork for a ‘skyport’ on the roof.
Outstanding Mortgage Balances Nearing All-Time High
Mortgage Professional America, Apr. 6, 2018–Steve RandallOutstanding balances on first mortgages is getting close to the industry record high of $9.04 trillion reached in 2008, said Equifax.
Powell Says Fed’s Gradual Rate Increases Should Keep Economy Strong
Wall Street Journal, Apr. 6, 2018–David Harrison (subscription)Federal Reserve Chairman Jerome Powell said Friday the central bank’s slow and steady path of raising interest rates will keep the labor market strong, allow inflation to rise and guard against unexpected shocks.
Bank Regulatory Actions Under Trump Fall to Historic Lows
National Mortgage News, Apr. 6, 2018–Kate Berry (subscription)Issuance of financial regulations has dropped to a 50-year low, new data shows, a sign that the Trump administration is fulfilling its deregulatory agenda.