Reuters, Aug. 3, 2017–Lucia MutikaniThe number of Americans filing for unemployment benefits fell last week, pointing to a tightening labor market that likely keeps the Federal Reserve on course to announce plans next month to start reducing its massive bond portfolio.
Category: Top National News
Consumer Bankruptcies Down 2 Consecutive Months
Mortgage Daily, Aug. 3, 2017Total U.S. bankruptcies filed, including commercial and non-commercial filings, worked out to 61,366 during July, dropping from an upwardly revised 66,789 the prior month.
PennyMac Lending Rises, Launching Broker Channel
Mortgage Daily, Aug. 4, 2017PennyMac Financial Services Inc. sees opportunity in mortgage brokers and is about to launch a broker business. Quarterly originations increased as earnings declined.
MBA Announces Changes to Regulatory Counsel Staff
HousingWire, Aug. 3, 2017–Caroline BasileThe Mortgage Bankers Association has announced the promotion of two current staffers and the planned departure of vice president and regulatory counsel Ken Markison.
Amid Affordability Worries, Mortgage Industry Moves to Ease Home Lending
Los Angeles Times, Aug. 4, 2017–Andrew KhouriChanges 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.
Fannie to Keep Tinkering with Credit-Risk Transfer Formula
National Mortgage News, Aug. 3, 2017–Brad Finkelstein (subscription)Fannie Mae continues to experiment with various forms of credit risk transfers to strike a balance between offering a product that’s attractive to investors and a cost-effective way to reduce risk.
DOJ Will Be Allowed to Join Ocwen’s Challenge to Constitutionality of CFPB
HousingWire, Aug. 3, 2017–Ben LaneOcwen Financial could soon get a big boost in its fight against the Consumer Financial Protection Bureau from a once-unlikely source–the Department of Justice.
Higher Residential Starts Raise Optimism for Faster Recovery
GoRion, Aug. 2, 2017–Sam BourgiU.S. home sales hit a snag in June, as a dearth of available property pushed prices to new records. However, signs of life in the homebuilding sector allayed concerns of a more protracted drop in the months to come.
What Bank Of The Ozarks’ Stock Drop Has To Do With Commercial Real Estate
Forbes, Aug. 2, 2017–Ely RazinIn its commercial real estate financing, Bank of the Ozarks has shown particularly strong involvement in construction lending–which tends to be both riskier than standard CRE financing and offer higher returns–even as other banks by and large have been reducing construction lending.
Newark Dreams to Join Ranks of Destination Cities
Commercial Property Executive, Aug. 2, 2017–Paul FiorillaUrban redevelopment is a familiar story in metros across the country. Now Newark, N.J., wants to get into the revitalization game with $1 billion of projects underway and another $4 billion in the pipeline.