Mortgage Daily, Feb. 27, 2018Freddie Mac said U.S. mortgage production is expected to decrease from $478 billion during fourth-quarter 2017 to $335 billion during this first quarter.
Category: Top National News
Mick Mulvaney Promises Accounting for Business Costs in Rule-Making
Wall Street Journal, Feb. 27, 2018–Yuka Hayashi (subscription)The business cost of complying with rules will receive increased attention at a consumer-finance regulator, the agency’s acting director said, faulting the Obama administration for not giving enough consideration to such factors.
Mapping the Black Homeownership Gap
Urban Institute, Feb. 27, 2018–Alanna McCargo, Sarah StrochakOwning a home can increase a family’s financial security, but black people and other minorities significantly lag behind white people in homeownership rates, a major factor contributing to the racial wealth gap.
Hispanic Homeownership Undeterred by Immigration, Inventory Frets
National Mortgage News, Feb. 27, 2018–Brad Finkelstein (subscription)Despite concerns about U.S. immigration policy and housing inventory shortages, the Hispanic homeownership rate increased for the third consecutive year in 2017.
Senate Reg Relief Vote Could Come Next Week: Banking Committee Chair
National Mortgage News, Feb. 27, 2018–Ian McKendry (subscription)Senate Banking Committee Chairman Mike Crapo, R-Idaho, said Tuesday that he is hopeful that a bipartisan deal to roll back Dodd-Frank Act regulations will be able to get a floor vote as soon as next week.
Title Soure Unveils Massive Rebranding, Becomes Amrock
HousingWire, Feb. 27, 2018–Ben LaneThe new name comes in part from Amrock’s parent company, Rock Holdings, which also owns Quicken Loans.
Ben Carson’s HUD, Planning Cuts, Spends $31,000 on Dining Set for His Office
New York Times, Feb. 27, 2018–Glenn ThrushThe purchase of the custom hardwood table, chairs and hutch came a month after a top agency staff member filed a whistle-blower complaint charging Carson’s wife, Candy Carson, with pressuring department officials to find money for the expensive redecoration of his offices, even if it meant circumventing the law.
Fed’s Powell Nods to Stronger Economy, Backs Gradual Rate Hike Path
Reuters, Feb. 27, 2018–Howard Schneider, Jason LangeFederal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates.
Rising Rates Aren’t All Bad News for Mortgage-Backed Investors
Bloomberg, Feb. 27, 2018–Christopher MaloneyWhile rising rates may cause duration extension headaches for mortgage-backed security investors, premium coupons’ relative performance may be helped by slowing prepayment speeds.
U.S. Consumer Confidence Rises to Highest Level Since November 2000
Associated Press, Feb. 27, 2018–Paul WisemanThe Conference Board says its consumer confidence index rose to 130.8 in February, highest since November 2000 and up from 124.3 in January.