UEXpress, Oct. 27, 2017–Lew SichelmanMortgage help is free, so be particularly leery of anyone demanding payment or promising guaranteed results.
Category: Top National News
In a Mortgage-Crisis Settlement, Did a Bank Get Off Easy?
New York Times, Oct. 27, 2017–Gretchen MorgensenWhen they announced the $5.28 billion deal, prosecutors cited it as evidence that the United States government can and will ride herd on large financial institutions if they engage in misconduct. A little more than six months later, it’s worth asking: How tough, really, was the settlement on Credit Suisse?
Stuck in Place, U.S. Homeowners Hunker Down as Housing Supply Stays Tight
Wall Street Journal, Oct. 29, 2017–Laura Kusisto, Christina Rexrode (subscription)Despite rising home prices and a growing economy, U.S. homeowners’ mobility rate is stuck at a 30-year low as many opt to stay put rather than move to pursue job opportunities or trade up for more space.
Treasury Calls for HUD to ‘Reconsider’ Use of Disparate Impact Rule
HousingWire, Oct. 27, 2017–Ben LaneThe section of the report in question focuses on HUD’s potential application of the disparate impact rule to the insurance industry, specifically homeowners’ insurance.
Radian Loosens Jumbo, Downpayment Requirements
Mortgage Daily, Oct. 27, 2017Changes being made by Radian Guaranty Inc. will make it easier to qualify for jumbo mortgages, loans for medical professionals and transactions with alternative downpayment sources.
National Bank Charter First Since Financial Crisis
Mortgage Daily, Oct. 27, 2017The charter was approved for Winter Park National Bank of Florida by the Office of the Comptroller of the Currency, according to an announcement Friday.
States Push Equifax to Explain Why It Took 6 Weeks to Disclose Hack
Wall Street Journal, Oct. 28, 2017–Michael Rapoport, AnnaMaria Andriotis (subscription)Attorneys general in at least five states are looking into why credit-reporting firm Equifax Inc. didn’t tell the public for nearly six weeks about the massive data breach that potentially compromised the personal information of 145.5 million Americans.
Mall Owners Work to Reclaim Retail Wasteland With Public Money
Bloomberg, Oct. 30, 2017–Sarah MulhollandTo draw consumers with experiences they can’t find online, retail-property owners are slashing the amount of space dedicated to stores and are spending on everything from hotels and apartments to upscale restaurants and skating rinks.
U.S. GDP Beats Expectations, Growing At 3 Percent
NPR, Oct. 27, 2017–Bill ChappellThe U.S. economy grew faster than analysts had expected in the third quarter of 2017, with the Bureau of Economic Analysis saying America’s real gross domestic product increased at 3 percent–below the 3.1 percent rise in the previous quarter, but showing resilience in the face of debilitating hurricanes.
Mortgage Rates Rise to Highest Levels Since July
Washington Post, Oct. 26, 2017–Kathy Orton”Rates increased late last week as the market responded to news of a Senate budget plan which may positively impact tax reform progress and more speculation around the future leadership of the Federal Reserve,” said Joel Kan, an economist with the Mortgage Bankers Association.