National Mortgage Professional, Aug. 4, 2017–Phil HallThe National Association of Home Builders’ 55+ Housing Market Index recorded a reading of 66 for the second quarter, up 11 points from the previous quarter.
Category: Top National News
Nonbank Mortgage Employment Soars on Brighter Origination Outlook
National Mortgage News, Aug. 4, 2017–Brad Finkelstein (subscription)Nonbank mortgage employment rose for the fourth consecutive month in June, as loan production during the second quarter was higher than expected at the start of the year.
Essent Posts Higher Net Income at Year’s Midpoint
National Mortgage News, Aug. 4, 2017–Elina Tarkazikis (subscription)Essent Group reported second-quarter net income of $72.1 million, an improvement from the $52.3 million for the same period last year.
Wells Fargo to Pay $108 Million for Allegedly Overcharging Veterans on Refis
HousingWire, Aug. 4, 2017–Ben LaneSpecifically, the issue relates to a lawsuit from 2006 that claimed some Department of Veterans Affairs Interest Rate Reduction Refinance Loans originated by Wells Fargo should not have been eligible for VA guarantees due to the bank allegedly collecting unauthorized fees with the loans.
House Republicans Build Case for Contempt Charges Agains Consumer Finance Director Cordray
Reuters, Aug. 4, 2017–Pete SchroederA report issued Friday by Republican staff on the House Financial Services Committee argued there was “ample evidence” that Consumer Financial Protection Bureau Director Richard Cordray could be held in contempt.
As Prices Rise, Mortgage Lenders are Making it Easier to Buy a House
Los Angeles Times, Aug. 6, 2017–Andrew KhouriBuying a home isn’t easy, especially in high-cost metropolitan areas such as Los Angeles County, where the median price of a home hit $569,000 in June. But changes in the mortgage industry are afoot, with the goal of loosening some of the strict standards established after the subprime crisis–rules some blame for impeding sales.
Looking For ‘City’ Living in the Suburbs? Some are Finding it in Aging Office Parks
Washington Post, Aug. 5, 2017–Katherine ShaverFrom the Washington and New York suburbs to North Carolina’s Research Triangle Park, traditional corporate campuses that have struggled since the Great Recession are trying to transform from sterile worksites into vibrant mini-towns. In addition to housing, they’re adding restaurants, grocery stores, playgrounds and outdoor concert spaces–anything to draw people in and make them want to stay.
Q1 Mortgage Daily Mortgage Employment Index Drops
Mortgage Daily, Aug. 7, 2017Compared to a year earlier, employment in the mortgage industry has expanded. But as quarter-over-quarter headcount was down, some signs point to an increase in layoffs for the sector.
Weekly Mortgage Refis Rev Up, Purchases Drop
Mortgage Daily, Aug. 7, 2017Weekly mortgage business maintained the pace of the previous seven-day period. Increased refinance activity was offset by lower demand for loans to finance a residential property purchase.
Mortgage Rates Were Flat This Week
Washington Post, Aug. 3, 2017–Kathy Orton”It was an up and down time for rates last week in response to mixed economic news coupled with the Fed’s FOMC statement,” said Joel Kan, an MBA economist. “The statement outlined a mostly healthy outlook, with a slight concern over inflation and the news that balance sheet reduction could begin ‘relatively soon.’ As a result, mortgage rates were flat to slightly higher last week.”