Category: Top National News

HousingWire, June 14, 2017–Kelsey RamirezFirst American Financial Corp. Chief Economist Mark Fleming said mortgage rates are benchmarked to 10-year Treasury bond, not federal funds rate.

National Mortgage News, June 14, 2017–John Reosti (subscription)Movement Mortgage in Charlotte, N.C., confirmed Wednesday it had recapitalized the $29 million-asset First State Bank for an undisclosed amount.

Reuters, June 14, 2017–Lucia MutikaniU.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve’s ability to continue raising interest rates this year.

Newsday, June 14, 2017–Maura McDermottFred and Theresa Tovar’s mortgage lender–originally Beneficial Homeowner Service Corp., and later U.S. Bank Trust N.A.–had until Friday to file a motion seeking permission to take the case to the state’s highest court, the Court of Appeals.

Mortgage Daily, June 14, 2017–Sam GarciaRecent enhancements to product eligibility and pricing engines include integrations with mortgage insurance companies and customer relationship management providers.

USA Today, June 14, 2017–Hal Bundrick”Even though the U.S. economy is really looking pretty strong right now, particularly in the job market, the rest of the world is lagging behind,” says Mike Fratantoni, chief economist for the Mortgage Bankers Association. “So central banks elsewhere are still aggressively stimulating their economies and keeping their rates low, and that’s acting as a bit of an anchor on longer-term rates.”

New York Times, June 14, 2017–Gretchen MorgensonA spokesman for Wells Fargo, Tom Goyda, said the bank strongly denied the claims made in the lawsuits and particularly disputed how the complaints characterized the bank’s actions.

HousingWire, June 14, 2017–Ben LaneAccording to details from the company, any of My LendingTree’s 5 million current users (or anyone else who signs up for the service) will now have the ability to get a valuation of their home within LendingTree’s system.

Wall Street Journal, June 13, 2017–Peter Grant; Richard Rubin (subscription)To finance a possible tax rate cut, some in Congress are eyeing the provision, which allows sellers to defer capital-gains taxes by reinvesting in other properties.

Reuters, June 13, 2017–Richard LeongU.S. commercial real estate loans outstanding topped $3 trillion for the first time ever at the end of the first quarter, the Mortgage Bankers Association said on Tuesday.