Crain’s Detroit Business, Mar. 4, 2018–Bill SheaWholesale mortgage mogul Mat Ishbia wants some of the local public attention monopolized by Dan Gilbert and his Detroit business empire anchored by Quicken Loans Inc.
Category: Top National News
Mortgage Insurance Companies Push Back against 50% DTI
HousingWire, Mar. 2, 2018–Kelsey RamirezLast year, the GSEs announced they were increasing their debt-to-income ratio to 50%, a move that mortgage insurance companies are starting to fight back against.
Why New Jersey’s Soaring Foreclosures Are Good for the Housing Market
Wall Street Journal, Mar. 3, 2018–Melanie Grayce West (subscription)New Jersey’s foreclosure crisis is hitting a peak, and that could be a boon for the state’s housing market.
‘Fintech’ Firms Take Bigger Bite of Manhattan’s Office Market
Wall Street Journal, Mar. 4, 2018–Keiko Morris (subscription)Financial technology providers are gobbling up Manhattan office space as they expand operations and seek to tap the city’s growing tech labor force.
As Senate Nears Big Vote, Dodd-Frank Shows Its Staying Power
National Mortgage News, Mar. 2, 2018–Ian McKendry (subscription)The Senate is poised to pass the most substantial bank regulatory relief since the crisis, to many bankers’ delight and progressive Democrats’ alarm. But any disruption of the post-crisis regime is still eclipsed by how much the bill enshrines Dodd-Frank.
Nursing Home Chain HCR ManorCare to Sell Itself in Bankruptcy
Reuters, Mar. 2, 2018–Tracy Rucinski, Greg RoumeliotisThe second-largest U.S. nursing home operator, HCR ManorCare, will file for Chapter 11 protection in the coming days and transfer ownership to its landlord, Quality Care Properties Inc., the latest sign of distress in the senior housing industry.
Fixed Mortgage Rates Keep Rising–With No End in Sight
Washington Post, Mar. 1, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.43 percent with an average 0.5 point. It was 4.40 percent a week ago and 4.10 percent a year ago.
With Lumber in Short Supply, Record Wood Costs Are Set to Juice Home Prices
Wall Street Journal, Mar. 1, 2018–Benjamin Parkin (subscription)Builders say the higher lumber costs are making homes more expensive. Lumber prices started rising last year after fires destroyed prime forests and a trade dispute between the U.S. and Canada restricted supplies. Now a shortage of railcars and trucks is forcing builders to pay even more.
CFPB Should Take Back Seat to Bank Regulators on Supervision: Mulvaney
National Mortgage News, Mar. 1, 2018–Kate Berry (subscription)Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Thursday the agency may allow prudential regulators to take the lead on more supervisory matters to cut down on duplication and ease the burden of exams on financial firms.
Nationstar Banking on Servicing to Drive Future Profits
National Mortgage News, Mar. 1, 2018–Brad Finkelstein (subscription)The servicing business drove Nationstar Mortgage Holdings’ fourth-quarter profitability and will be a major factor going forward after the company is acquired by WMIH.