Category: Top National News

Bloomberg, Mar. 21, 2018–Elizabeth DexheimerThe proposals approved by the House Financial Services Committee on Wednesday include a Volcker Rule tweak that would put the Federal Reserve solely in charge of enforcing the Dodd-Frank Act ban on proprietary trading instead of the five agencies now assigned to the task.

Star-Tribune (Minneapolis), Mar. 21, 2018–Nicole NorfleetWells Fargo & Co. wants to build a six-story parking ramp on its Wells Fargo Home Mortgage campus in south Minneapolis, allowing that office to accommodate 1,250 more workers.

Mortgage Daily, Mar. 21, 2018Ellie Mae reported conventional mortgages accounted for more than two thirds of all loans closed during February, widening from a 63 percent share in the same month last year.

HousingWire, Mar. 21, 2018–Ben LaneCagney helped found a new lending startup called Figure, which will apparently be specializing in home equity lending with blockchain serving as a key component of the company’s business plan.

GlobeSt.com, Mar. 21, 2018–Betsy Kim The public market is saying something bad is going to happen to private real estate pricing.

National Mortgage Professional, Mar. 20, 2018–Phil HallCommercial/multifamily mortgage debt outstanding reached $3.18 trillion at the end of 2017, a 6.7 percent increase from the $200.3 billion level reached one year earlier, according to the Mortgage Bankers Association.

National Mortgage News, Mar. 20, 2018–Bonnie Sinnock (subscription)The new Home Mortgage Disclosure Act reporting requirements have been in place since the beginning of the year, but lenders are still adjusting to how they work in practice.

Mortgage Daily, Mar. 20, 2018The Mortgage Bankers Association said refinance volume is projected to fall from $128 billion in the first quarter to $110 billion the following three-month period. MBA previously had second-quarter refinance production at $105 billion.

Wall Street Journal, Mar. 20, 2018–Andrew Ackerman (subscription)Senators are pressing House lawmakers not to jeopardize what they see as their best opportunity to ease postcrisis financial regulations, urging them to quickly pass bipartisan Senate legislation without making changes.

Bloomberg, Mar. 20, 2018–Joe LightHousing and Urban Development Secretary Ben Carson said he wasn’t trying to mislead the public when an agency spokesman initially denied that he and his family were involved in a controversial decision to buy a $31,000 dining room set for his office.