Reuters, June 13, 2017–Lucia MutikaniU.S. producer prices were unchanged in May as energy costs recorded their biggest decline in more than a year, suggesting a moderation in inflation after a rise at the start of the year.
Category: Top National News
Fed Set to Raise Interest Rates, Give More Detail on Balance Sheet Wind-Down
Reuters, June 13, 2017–Lindsay DunsmuirThe U.S. Federal Reserve is widely expected to raise its benchmark interest rate this week due to a tightening labor market and may also provide more detail on its plans to shrink the mammoth bond portfolio it amassed to nurse the economic recovery.
Supreme Court Opinion Could Impact RESPA
Mortgage Daily, June 13, 2017An opinion issued by the nation’s highest court in a case involving a defaulted car loan could impact interpretation of the Real Estate Settlement Procedures Act.
Fannie Addresses Credit Report Changes
Mortgage Daily, June 13, 2017Changes next month by the credit reporting agencies aren’t expected to have a significant impact on Fannie Mae’s policies or requirements.
Morgan Stanley Developing Online Mortgage Applications Tool
Reuters, June 13, 2017–Elizabeth DiltsMorgan Stanley is developing a new digital mortgage application tool in a bid to get more of its existing clients to turn to it for home loans.
Top GOP Lawmaker Optimistic on Enacting Treasury’s Dodd-Frank Reforms
National Mortgage News, June 13, 2017–Ian McKendry (subscription)A key Republican lawmaker welcomed Treasury Department recommendations on how to reform financial regulations and expressed optimism that many of the suggestions could become law.
Survey Says It’s A Sellers’ Market
Banker & Tradesman, June 12, 2017–Jim Morrison (Subscription)The share of Americans who think now is a good time to buy fell 8 percent to a record-low 27 percent last month, the Fannie Mae Home Purchase Sentiment Index said.
RBS Nearing $4.5 Billion Settlement Over Mortgage-Backed Securities Sales
The Street, June 12, 2017–Kinsey GrantRoyal Bank of Scotland Group PLC is in advanced negotiations with the Federal Housing Finance Agency to cut a deal related to the 2008 sale of toxic mortgage bonds to U.S. government-backed loan firms Fannie Mae and Freddie Mac.
Supreme Court Sides with Banks in Debt Servicing Case
National Mortgage News, June 12, 2017–John Heltman (subscription)Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.
Do Lenders Really Need to Co-Market with Real Estate Agents?
National Mortgage News, June 12, 2017–Bonnie Sinnock (subscription)Co-marketing arrangements between mortgage companies and real estate brokerages have long been a staple of the housing industry. But mounting compliance risks and an evolving landscape for how consumers shop for homes and loans to pay for them has some lenders re-examining their relationships.