Category: Top National News

Bloomberg, Dec. 1, 2017–Steve MatthewsFederal Reserve Bank of St. Louis President James Bullard cautioned that short-term interest rates may exceed long-term rates by late 2018, creating a so-called inversion of the yield curve that would bode poorly for the U.S. economy.

Reuters, Dec. 1, 2017–Lisa LambertPennsylvania’s Attorney General is leading the charge among his Democratic peers preparing to shore up protections for borrowers and savers while President Donald Trump follows through on a pledge to defang a powerful consumer finance watchdog.

Reuters, Dec. 1, 2017–Jason LangeThe Institute for Supply Management Manufacturing Index fell more than expected in November as a gauge of employment cooled, but the index continued to point to strengthening manufacturing conditions.

CNBC, Dec. 2, 2017–Lorie KonishNow that the Senate passed a sweeping tax reform bill, proposed changes to state and local tax and mortgage deductions could be especially damaging to those residents in states with higher tax rates.

Chicago Tribune, Dec. 1, 2017–Ally MarottiMortgage lender Guaranteed Rate alleges that while still employed at the company, one of its “most highly compensated executives” planned and participated in an exodus of more than 20 employees to a newly formed rival, according to a lawsuit filed by the Chicago-based company.

Wall Street Journal, Dec. 3, 2017–Josh Barbanel (subscription)Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area, in a win for a grass-roots group that sought to block the project.

National Mortgage News, Dec. 1, 2017–Ian McKendry (subscription)The ill will generated between Democrats and Republicans in the controversy over appointing an acting chief for the Consumer Financial Protection Bureau adds a new wrinkle to congressional talks over a bipartisan regulatory relief deal.

HousingWire, Dec. 1, 2017–Ben LaneWhile Democrats vow that they’re not ready to hand the leadership of the Consumer Financial Protection Bureau over to Mick Mulvaney without a fight, the Trump administration is moving forward with helping Mulvaney staff up in his new position.

Mortgage Daily, Dec. 1, 2017Walter Investment Management Corp. has filed for bankruptcy as expected. The company hopes to wipe out nearly $1 billion in outstanding debt.

Mortgage Daily, Dec. 1, 2017New residential lending activity during the past seven days took a big leap from the holiday week. Leading the week-over-week improvement was surging refinance business.