Bloomberg, Feb. 4, 2018–Ros Krasny, Scott LanmanOutgoing Federal Reserve Chair Janet Yellen said U.S. stocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble.
Category: Top National News
Key to the Wells Fargo-Fed Deal: Holding Directors Accountable
New York Times, Feb. 4, 2018–Emily Flitter, Binyamin Applebaum, David EnrichAfter three weeks of frenzied negotiations, a deal was announced on Friday night that represented a milestone in the evolving relationship between regulators and banks. Wells Fargo, one of the country’s largest banks, was banned from getting bigger until it can convince regulators that it has cleaned up its act.
Mortgage Staffing Expands as U.S. Jobs Report Strong
Mortgage Daily, Feb. 2, 2018In the mortgage industry, which is reported on a one-month lag, there were 341,500 non-bank jobs as of December 2017. Home-lending jobs expanded from a downwardly revised 338,800 a month earlier and a downwardly revised 333,400 a year earlier.
Mortgage Biz Up, ARM Activity Soars to 3-Yr High
Mortgage Daily, Feb. 2, 2018As mortgage activity increased last week, a surge was recorded for adjustable-rate mortgage business — which leapt to the highest level in more than three years thanks to rising fixed rates.
Sometimes the Animals Come With the House
UExpress, Feb. 2, 2018–Lew SichelmanThe rule of conveyances is fairly simple: If it is attached to the house, it is considered a fixture and it stays for the next owner. If it isn’t attached, the sellers can take it with them when they move out. In other words, you can take the curtains, but not the rods. But what if the issue involves animals?
Mortgage Rates are Trending Higher
Washington Post, Feb. 1, 2018–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to its highest level since last March, rising to 4.22 percent with an average 0.5 point.
Best Mortgage Tips for February 2018
Bankrate.com, Feb. 1, 2018–Robin Saks FrankelMortgage Bankers Association Chief Economist Mike Fratantoni said recently at a conference that he predicts mortgage rates will rise to close to 5 percent in 2018 and will likely exceed that number in 2019 and beyond.
Housing Affordability Still High, Despite Increasing Home Prices
The Mortgage Reports, Feb. 1, 2018–Aly J. YaleDespite rising home prices, American housing is actually quite affordable. According to the latest Real House Price Index from First American, today’s home buyers have “historically high levels of house-purchasing power.”
Tax Reform Takes a Bite Out of Radian’s 4Q Earnings
National Mortgage News, Feb. 1, 2018–Brad Finkelstein (subscription)The changes to the tax code reduced Radian Group’s fourth-quarter net income as the company took an incremental provision of $102.6 million.
First American Completes Acquisition of BofA Lien Release Business
HousingWire, Feb. 1, 2018–Kelsey RamirezFirst American first announced the deal back in December, saying the transaction would be completed during the first quarter of this year. The deal makes Bank of America’s lien release business and its employees part of First American’s mortgage solutions division.