Charlotte Observer, Sept. 11, 2017–Deon RobertsWells Fargo has made more layoffs within its Fort Mill mortgage operation, according to a notice filed with the state of South Carolina. The layoffs stem from the closure of Wells’ reverse-mortgage servicing operating unit, a move impacting 120 jobs.
Category: Top National News
RMBS Exposure to Irma Could be High for a Single Storm
National Mortgage News, Sept. 11, 2017–Bonnie Sinnock (subscription)Private-label residential mortgage-backed securities could have more potential exposure to Hurricane Irma than any recent storm, and the hurricane also could have implications for agency and government markets.
In Harvey’s Wake, Houston Rethinks Real Estate Development
Wall Street Journal, Sept. 11, 2017–Douglas Belkin, Shibani Mahtani (subscription)Now, after Hurricane Harvey killed at least 50 people and caused roughly $180 billion in damage, a battle is shaping up over how best to oversee real-estate development in Houston.
Lima One Capital Buys RealtyShares’ Residential Invenstor Lending Business
HousingWire, Sept. 11, 2017–Ben LaneLate last week, Lima One Capital, a lender for residential real estate investors, announced that it acquired RealtyShares’ residential lending business.
London Retains Its Crown as World’s Top Financial Center
Bloomberg, Sept. 11, 2017–Gavin FinchLondon retained its crown as the world’s top financial center in a ranking that surveys industry professionals, extending its lead over New York and Hong Kong despite ongoing uncertainty about the implications of Brexit.
Demand for Student Housing Shows Signs of Slowing Down
National Real Estate Investor, Sept. 11, 2017–Bendix Anderson This summer–for the first time in several years–student housings beds were not leasing as quickly as the year before.
Chief Executive of Social Finance, an Online Lending Start-Up, to Step Down
New York Times, Sept. 11, 2017–Katie Benner, Nathaniel PopperSocial Finance, an online lender that is one of the more prominent financial technology start-ups, said on Monday that its co-founder and chief executive Mike Cagney planned to step down by the end of the year.
Home Purchase Lending Up Despite Decline in Units
Mortgage Daily, Sept. 11, 2017Although the dollar volume of quarterly purchase-money production has recently risen, the number of loans closed has fallen thanks to the lack of junior-lien use.
Womens’ Conference Among Dozens of Mortgage Events
Mortgage Daily, Sept. 11, 2017–Sam GarciaAmong dozens of upcoming events is an inaugural technology conference for women in the mortgage industry.
Florida Bankers Exhale After Irma Strikes
American Banker, Sept. 11, 2017–Jackie Stewart (free article)The Mortgage Bankers Association said it had received a lot of questions from homeowners who didn’t know how to start assessing damage from Harvey and Irma. The group encouraged customers to contact their loan servicers to find out about programs that could help them, along with their insurers and FEMA.