HousingWire, Mar. 26, 2018–Kelsey RamirezAnalyzing U.S. Census Bureau data going back as far as 1974, a new study from RentCafé found that Millennials have been the hardest generation for those ages 22 to 30. And the future does not look bright for Generation Z.
Category: Top National News
Reverse Mortgage Lender Settles With HUD
Mortgage Daily, Mar. 26, 2018HUD reached a settlement with reverse mortgage lender MetLife Home Loans LLC, which allowed someone to sign loan documents even though he didn’t have the authority to do so.
Mortgage Profits Plummeted in Fourth Quarter
Mortgage News Daily, Mar. 23, 2018–Jann SwaonsonPer-loan profits of independent mortgage banks fell dramatically in the fourth quarter, the Mortgage Bankers Association reported.
MBA: Hot Job Market Bolsters Mortgage Outlook
Scotsman Guide, Mar. 23, 2018–Victor WhitmanMichael Fratantoni, chief economist for the Mortgage Bankers Association, discussed the potential impact of rising rates and why he remains optimistic about the mortgage market and broader economy.
Don’t Be Afraid to Shop Around for a Better Mortgage Deal
Washington Post, Mar. 23, 2018–Kenneth R. HarneyIt’s one of the weirder documented facts about homebuying in America: Surprising numbers of people don’t bother to shop for mortgage money, even though they could save tens of thousands of dollars through lower interest payments by doing so.
Wells Fargo’s Risk Shake-up Continues With Departure of Four Executives
Wall Street Journal, Mar. 23, 2018–Emily Glazer (subscription)Wells Fargo told employees earlier this week that four of its top risk-management executives are retiring and laid out a reorganization to manage risk, according to employees and an internal memo.
Ocwen Financial Gets Closer to Detente with the States
National Mortgage News, Mar. 23, 2018–Bonnie Sinnock (subscription)A new settlement with Massachusetts resolves all outstanding administrative actions against Ocwen Financial Corp. by a group of 30 states, but two states’ legal actions against the servicer remain outstanding.
Housing Industry Clashes Over Support of New Spending Bill
HousingWire, Mar. 23, 2018–Kelsey RamirezThe bill allots $4.6 billion in additional funding compared to fiscal year 2017 for the U.S. Department of Housing and Urban Development. This is up $12 billion from President Donald Trump’s proposed budget for the agency. But despite this increase in funding, some experts say the bill didn’t go far enough in meeting the needs of the housing industry.
The Manhattan Luxury-Home Market Is Screaming: I’m Overpriced!
Bloomberg, Mar. 23, 2018–Oshrat CarmielHomes priced at $4 million or more that went into contract in the first 12 weeks of the year had their asking prices cut by an average of 10 percent, the most in data going back to 2012, according to Olshan Realty Inc.
Homeowners Ditch Refinancings as Mortgage Rates Rise
Wall Street Journal, Mar. 26, 2018–Christina Rexrode (subscription)Refinancings make up a smaller portion of the mortgage business than at any time in the past two decades, posing a challenge for lenders who already fear higher interest rates and climbing house prices could eventually depress purchase activity.