Wall Street Journal, Apr. 4, 2018–Robyn A. Friedman (subscription)A recent uptick in mortgage interest rates is increasing costs for buyers already grappling with rising prices.
Category: Top National News
ADP: Construction Industry Leads March Employment Surge
HousingWire, Apr. 4, 2018–Kelsey RamirezAs job gains continue in the construction industry, employment is expected to surge in March, according to the ADP and Moody’s Analytics National Employment Report.
U.S. Is Restricting Lenders in Veterans’ Mortgage Crackdown
Bloomberg, Apr. 4, 2018–Joe LightNewDay USA and Nations Lending Corp. have been restricted effective this week from issuing Ginnie Mae bonds that are intermingled with loans from other lenders. The move follows an examination by Ginnie Mae, a government-owned corporation that guarantees about $2 trillion in mortgage-backed securities, including loans backed by the Department of Veterans Affairs.
Pioneer Working on Mortgage Blockchain
Mortgage Daily, Apr. 4, 2018Lew Ranieri, a pioneer in the private-label mortgage-backed securities market has turned his focus to applying blockchain principles to the home-lending industry.
Post-Crisis Low for Mortgage Refinance Share
Mortgage Daily, Apr. 4, 2018The last time that refinances accounted for this small of a share of mortgage applications, America was in the midst of a financial meltdown, the Mortgage Bankers Association said.
Credit Bureaus Aren’t Going Anywhere. For Now
National Mortgage News, Apr. 4, 2018–Penny Crosman (subscription)Until banks find that traditional credit reports and credit scores no longer provide decent performance and low-enough default, they’re unlikely to chuck them.
Growth in U.S. Service Industries Cools for a Second Month
Bloomberg, Apr. 4, 2018–Katia DmitrievaGrowth in U.S. service industries cooled in March for a second month as orders settled back from the fastest pace in more than 12 years, a survey from the Institute for Supply Management showed Wednesday.
Carrington to Start Offering Subprime Mortgages
National Mortgage News, Apr. 3, 2018–Brad Finkelstein (subscription)Carrington Mortgage Services’ decision to offer subprime mortgage loans was a natural progression from its decision four years ago to concentrate on borrowers with credit scores under 640.
New York Fed Picks John Williams as President
Wall Street Journal, Apr. 3, 2018–Michael S. Derby (subscription)The Federal Reserve Bank of New York said Tuesday that John Williams, who has helmed the San Francisco Fed since 2011, will become its next leader, assuming one of the top leadership positions at the U.S. central bank.
Home Prices Are Still Rising
National Mortgage Professional, Apr. 3, 2018–Phil HallHome prices in February rose by 6.7 percent from one year earlier and were up one percent from the previous month, according to new data from CoreLogic.