Mortgage Daily, Aug. 1, 2017Residential loan performance at Fannie Mae was the best it’s been in almost a decade. New business was also better.
Category: Top National News
Life Insurers Smell Opportunity in CRE, Multifamily Lending
American Banker, Aug. 1, 2017–Laura Alix (subscription)Life insurance companies are trying to chip away at banks’ dominant market share in commercial real estate lending, the Mortgage Bankers Association said.
New York Apartment Vacancies Projected to Soar
Wall Street Journal, Aug. 1, 2017–Josh Barbanel (subscription)A new report predicts New York City apartment vacancy rates will soar to more than 11% by the end of next year. The scenario, which some local housing analysts rejected, would mean a grim reckoning for landlords.
Goldman Sachs Reached $725 Million in Consumer Relief in $5 Billion Settlement
HousingWire, Aug. 1, 2017–Ben LaneGoldman Sachs recently moved past the 40% mark in its $1.8 billion consumer relief obligation that is part of the company’s $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement’s monitor said in a new report.
The Financial and Housing Market Rescue Left Many Americans Behind
MarketWatch, July 31, 2017–Andrea RiquierFederal policy meant to stabilize the financial system and housing market has worsened inequality, with particularly damaging implications for the housing market, a new report argues.
Fed’s Fischer: Weak Economy is Keeping Interest Rates Low
CNBC, July 31, 2017–Jeff CoxIn a speech Fed Vice Chair Stanley Fischer said low interest rates send “a powerful signal that the growth potential of the economy may be limited.”
Regulator Won’t Seek Delay of CFPB’s Arbitration Rule
Wall Street Journal, July 31, 2017–Yuka Hayashi (subscription)Acting Comptroller of the Currency Keith Noreika said Monday he wouldn’t seek to delay a new rule on arbitration agreements, skirting a showdown with another agency.
A Cautionary Note for Those Intent on Gutting GSEs
National Mortgage News, July 31, 2017–Thomas P. Vartanian (subscription)There can realistically be only muted hope that today’s Congress, nine years after the conservatorships started, will agree on a feasible strategy to unwind Fannie and Freddie and replace them with a viable alternative. Washington is too divided; the chances of a bipartisan bill are still in question.
Who Will Lead the CFPB if Director Cordray Leaves Top Spot?
HousingWire, July 31, 2017–Brena SwansonIndustry rumors are nearing a boiling point on whether or not Consumer Financial Protection Bureau Director Richard Cordray will leave the bureau to run for Ohio governor; be it through resignation or termination.
Los Angeles Reaches Deal With Olympic Leaders for 2028 Games
Associated Press, July 31, 2017–Rob HarrisLos Angeles has reached an agreement with international Olympic leaders that will open the way for the city to host the 2028 Summer Games.