Category: Top National News

Reuters, Sept. 21, 2017–Lucia MutikaniAmericans filing for unemployment benefits unexpectedly fell last week, but the near-term outlook for the labor market was muddied by the continuing impact of Hurricanes Harvey and Irma.

GoRion, Sept. 20, 2017–Sam BourgiAnalysts have rightly noted strong parallels between Canada’s current housing market and the one that precipitated the U.S. subprime mortgage crisis back in 2007. But there’s one saving grace that may help our northern neighbor avoid a similar fate. Canada’s mortgage standards have grown stricter as the market runs hotter, which is the opposite of what happened when U.S. housing prices approached their peak in 2007.

Wall Street Journal, Sept. 20, 2017–Christina Rexrode (subscription)The number of U.S. bank deals announced so far this year has dropped to 173 from 178 at the same time last year, according to investment-banking boutique FIG Partners. At the current pace, this year could have the fewest bank mergers since 2009.

CNBC, Sept. 20, 2017–Diana OlickIt was a menacing mix for mortgages last week. Back-to-back major hurricanes, a holiday weekend and higher interest rates combined to bring a 9.7 percent drop in total mortgage application volume last week from the previous week, the Mortgage Bankers Association said.

National Mortgage News, Sept. 20, 2017–Teri Sundh (subscription)If quality control isn’t part of your digital mortgage conversion strategy, it should be.

National Mortgage News, Sept. 20, 2017–Austin Kilgore (subscription)Lenders and technology developers have made considerable progress improving the customer experience of applying for a mortgage. And after years of regulatory and business uncertainty that’s depleted budgets and stifled innovation, momentum for widespread digital mortgages may finally be on their side.

Debtwire.com, September 2017–Al YoonMortgage servicers facing millions of dollars in hurricane-related losses are considering an appeal for relief from a U.S. government policy that leaves them on the hook when a property is irreparably damaged, according to two sources familiar with the effort.

Forbes, Sept. 20, 2017–Ely Razin Second quarter commercial real estate loan originations in New York City weren’t just big, they were really, really big. The size of those loans appears to be masking what would otherwise look like a decline in New York loan origination for the quarter.

Reuters, Sept. 20, 2017–Sruthi RamakrishnanEarly holiday sales forecasts are indicating a largely stronger season for retailers than last year, helped by higher online sales and increasing spending power due to a strong labor market.

Mortgage Daily, Sept. 20, 2017Compared to a year ago, home lenders took more risk on mortgages closed last month as government share has widened. Closing ratios and turnaround improved from a month earlier.