Mortgage Daily (St. Louis Post-Dispatch), Feb. 19, 2018USA Mortgage’s sole owner, president and chief executive officer, Douglas Schukar, transferred ownership of the company to employees through an Employee Stock Ownership Plan.
Category: Top National News
Rates Climb with Fewer Homes on the Market
CNBC, Feb. 16, 2016On Worldwide Exchange, MBA Chief Economist Mike Fratantoni explains how low housing inventories are impacting the market.
2-Year Outlook for Home Lending Cut
Mortgage Daily, Feb. 16, 2018Fannie Mae cut its expected volume for residential loan originations by $56 million for 2018, noting a slight boost in refinances.
Mortgage Bankers Display Increasing Agility in 2018
Multi-Housing News, Feb. 19, 2018–Sanyu KyeyuneAt $549 billion, the Mortgage Bankers Association’s projection of 2018 loan origination volume represents a 3 percent decline from 2017. Still, industry experts expressed their optimism toward the market at the organization’s CREF/Multifamily Housing Convention & Expo in San Diego last week.
MBA Boosts Commercial/Multifamily Team with Pair of Hires
HousingWire, Feb. 19, 2018–Ben LaneSharon Walker joined the MBA in late January as the associate vice president of multifamily. Also joining the MBA is Andrew Foster, who will serve as director, commercial/multifamily.
TransUnion: Mortgage Delinquencies Reach Lowest Level Since Recession
HousingWire, Feb. 20, 2018–Kelsey RamirezThe serious mortgage delinquency rate decreased in the final quarter of 2017 to the lowest point since the great recession, according to TransUnion’s Q4 2017 Industry Insights Report.
Odd Parcels: Immigrants, Love, Alexa
UExpress, Feb. 16, 2018–Lew SichelmanAccording to the Census Bureau, immigrants now account for almost 1 in 4 workers in the construction field. That’s the highest share ever recorded by the Bureau’s American Community Survey.
Mortgage Rates Climb to Their Highest Levels in Nearly Four Years
Washington Post, Feb. 15, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average shot up to 4.38 percent with an average 0.6 point.
Freddie Mac Reports $3.3B Q4 Loss
National Mortgage Professional, Feb. 15, 2018–Phil HallOne day after Fannie Mae reported a net loss of $6.5 billion in the fourth quarter of 2017 and the need for a $3.7 billion from the Treasury Department, Freddie Mac reported a $3.3 billion fourth quarter loss and the need for a $300 million Treasury draw.
U.S. Bancorp Charged Over Relationship With Race-Car Driver Scott Tucker
Wall Street Journal, Feb. 15, 2018–Christina Rexrode (subscription)U.S. Bancorp, the biggest regional bank in the country, was fined $613 million Thursday for what regulators and prosecutors said were shoddy anti-money-laundering controls.