Category: Top National News

HousingWire, Oct. 12, 2017–Kelsey RamirezJPMorgan Chase kicked off another earnings season on Thursday, as it reported third quarter earnings that surpassed experts’ expectations. But the news wasn’t all good, especially in the mortgage banking sector, where earnings fell by 17 percent.

MarketWatch, Oct. 12, 2017–Andrea RiquierThe bank had revenue of $18.2 billion in the quarter, vs. $17.8 billion a year ago. Analysts surveyed by FactSet had forecast $17.9 billion.

Bloomberg, Oct. 12, 2017–Prashant GopalDuring hurricanes Harvey and Irma, wind and water damaged almost 1.8 million homes, causing uninsured flood losses of as much as $57 billion, according to CoreLogic Inc., a real estate data firm. Homeowners without federal flood insurance are most likely to be desperate. Those with policies don’t yet know how much they’ll get for their losses, which is key to deciding whether it makes sense to sell.

Mortgage Daily, oct. 12, 2017–Sam GarciaFreddie Mac reported in its Primary Mortgage Market Survey for the week ended Oct. 12 that fixed interest rates on 30-year mortgages averaged 3.91 percent.

Scotsman Guide, Oct. 12, 2017–Victor WhitmanThe House Financial Services Committee moved forward two bills on Thursday aimed at providing clarity and regulatory relief for real estate lenders. H.R. 2148, which was supported by major trade associations like the Mortgage Bankers Association, did not alter the capital standards.

Wall Street Journal, Oct. 12, 2017–Katherine Clarke (subscription)Developers are turning century-old New York office buildings into residential condos, hoping to dazzle buyers with a slice of history.

National Mortgage News, Oct. 12, 2017–Kate Berry (subscription)The bipartisan congressional response to the Equifax breach took another step forward Thursday when two key Republicans sharpened their focus on regulatory gaps in the oversight of credit bureaus.

HousingWire, Oct. 12, 2017–Ben LaneOcwen disclosed its plans in a filing with the Securities and Exchange Commission that was mostly focused on Ocwen settling with two more states to remove some of restrictions that were placed on their mortgage business as part of a multi-state regulatory action against the nonbank earlier this year.

Mortgage Daily, Oct. 12, 2017Investors hungry for servicing have an opportunity to buy mortgage servicing rights on nearly $200 million in government-sponsored enterprise loans with a Golden State concentration.

National Mortgage Professional, Oct. 11, 2017–Phil HallFewer people were seeking out mortgage applications, according to data from the Mortgage Bankers Association that covered the week ending Oct. 6.