Bloomberg, Jan. 17, 2018–Craig TorresAlmost all of the 12 Federal Reserve districts reported “modest to moderate gains” in economic activity at the start of 2018, a Federal Reserve survey showed.
Category: Top National News
Seven Predictions for the Multifamily Sector in 2018
National Real Estate Investor, Jan. 16, 2018–Mary DiduchStable is the one word that encapsulates the anticipated state of the multifamily sector this year analysts say.
Credit Scores in Reperforming Loan Securitizations Drifting Lower
National Mortgage News, Jan. 16, 2018–Bonnie Sinnock (subscription)The weighted average FICO credit scores of securitized reperforming loans are showing some deterioration, according to a DBRS study of bonds issued since 2015.
Goldman Sachs Begins Offering Home Improvement Loans
HousingWire, Jan. 16, 2018–Ben LaneGoldman Sachs announced Tuesday that it is now offering home improvement loans through Marcus, the company’s personal lending venture.
U.S. Consumers See Higher Wage Growth, Inflation in Fed Survey
Bloomberg, Jan. 16, 2018–Matthew BoeslerU.S. consumer expectations for wage growth rose in December to the highest level in three years, according to a Federal Reserve Bank of New York survey.
Citigroup Posts $18.3B Fourth-Quarter Loss, Its Earnings Erased by Federal Tax Overhaul
USA Today, Jan. 16, 2018–Kevin McCoyThe net loss, equivalent to $7.15 per share, stemmed from a one-time non-cash charge of $22 billion, or $8.43 per share, related to the Tax Cuts and Jobs Act finalized by Congress and the Trump administration in December.
9-Month Low for FHA Endorsements, Could Drop More
Mortgage Daily, Jan. 16, 2018New business at the Federal Housing Administration fell to a nine-month low, and a further drop is likely. Delinquency deteriorated. Meanwhile, the book of business continued to grow, HUD said.
2018’s Higher Federal Conforming Mortgage Loan Limits Signal Confidence In The Housing Market
Forbes, Jan. 17, 2018–Ellen ParisFor the first time since 2005, the Federal Housing Finance Agency significantly increased 2018 Conforming Mortgage Loan Limits by 6.8% to keep pace with home price appreciation. This signals confidence in the housing market.
GSE Refinance Volume Highest in 9 Months
Mortgage Daily, Jan. 16, 2018The number of government-sponsored enterprise mortgages refinanced climbed to the highest level in nine months. Government-backed refinances, though, continued to fade, the Federal Housing Finance Agency said.
Federal Reserve Fines Five Banks to Wrap Up Mortgage Servicing Charges
Reuters, Jan. 12, 2018–Pete SchroederThe Federal Reserve announced the fines against Goldman Sachs , Morgan Stanley, CIT Group, U.S. Bancorp , and PNC Financial as part of a broader effort to terminate enforcement actions begun in 2011 and 2012 against large banks for mortgage servicing shortcomings.