Wall Street Journal, Aug. 8, 2017–Esther Fung (subscription)Last week, the top mall operators delivered a blunt message to short sellers and naysayers who had expected more gloom for landlords in the bricks-and-mortar retail business: Don’t count us out just yet.
Category: Top National News
The Best Place for a New Warehouse? An Old Mall
Wall Street Journal, Aug. 8, 2017–Esther Fung (subscription)The pressure for speedy online package delivery is prompting companies to look for distribution facilities closer to residential areas or highways. Some of the best locations, it turns out, are dead malls.
Why Movement Mortgage CEO Casey Crawford Bought a Bank
Charlotte Business Journal, Aug 8, 2017–Hilary Burns (subscription) Movement Mortgage CEO Casey Crawford bought a bank. He spent the last nine years building his Charlotte-based mortgage bank, which currently employs over 4,000 people. Now he’s hoping to build a national online retail bank to give consumers–especially Millennials–another option.
Residents of an Exclusive San Francisco Street Didn’t Pay Their Taxes. So Someone Bought Their Street
Washington Post, Aug. 8, 2017–Alex HortonCan you buy a city street? Is that even possible?
Bill Would Give Departing Bank LOs Temp Licenses
Mortgage Daily, Aug. 8, 2017Legislation introduced in the Senate takes bank mortgage originators one step closer to being able to easily transition from a financial institution to a non-bank home lender.
Impac’s Year-Over-Year Lending, Earnings Tumble
Mortgage Daily, Aug. 8, 2017Impac Mortgage Holdings Inc.’s servicing portfolio has more than doubled over the past year. But year-over-year deterioration was reported for quarterly earnings and originations.
Aug. 9, 2007: The Day the Mortgage Crisis Went Global
Wall Street Journal, Aug. 9, 2017–Colin Barr (subscription)Ten years ago oday, the first glimpses of the global financial crisis came into view.
Mortgage Servicers Need Laser Focus on Oversight–Report
Mortgage Professional America, Aug. 7, 2017–Francis Monfort The mortgage servicing industry can poise itself for stability and growth by continuing to emphasize oversight practices as it continues to rectify its relationship with the public following the financial crisis, according to a report by S&P Global Ratings.
A Mortgage Mystery: What Happens to ARMs When Libor Goes Away?
Wall Street Journal, Aug. 7, 2017–Christina Rexrode (subscription)The Libor index is going away. For U.S. consumers, its demise is most likely to be felt in adjustable-rate mortgages.
Risk for Mortgage Fraud Increases Slightly–CoreLogic
Mortgage News Daily, Aug. 7 2017–Jann SwansonCoreLogic says conditions in the mortgage market are once again fertile ground for mortgage fraud. The company’s National Fraud Risk Index hit a new high of 132 in the first quarter of this year versus 113 in the first quarter of 2016 and 122 in the fourth quarter.