Category: Top National News

National Mortgage News, May 15, 2017–Kevin Wack (subscription)The Federal Deposit Insurance Corp. has so far managed to stay out of the growing battle over how the U.S. fintech sector should be regulated, but that appears likely to end as one of the nation’s largest online lenders announced plans to apply for a specialty banking charter soon.

HousingWire, May 15, 2017–Ben LaneFlagstar Bancorp announced Monday that it closed on its acquisition of “certain assets” of Opes Advisors, a full-service mortgage bank and financial advisory firm.

UExpress, May 12, 2016–Lew SichelmanRising mortgage rates might seem like nothing but bad news for those in the market to buy a home. But there may be a silver lining for consumers: When rates change in either direction, many lenders change their product lines.

Reuters, May 11, 2017–Dan FreedWells Fargo & Co., the largest U.S. mortgage lender, is hoping this year to sell bonds backed by mortgages without government guarantees for the first time since the 2008 financial crisis, the head of the bank’s consumer lending division said on Thursday.

National Mortgage Professional, May 12, 2017–Phil HallZillow reports two Florida markets, Orlando and Tampa, are the best markets for first-time buyers due to the availability of affordable homes and a somewhat higher inventory than other metro areas.

HousingWire, May 12, 2017–Brena SwansonThe industry needs to replace roughly 200,000 loan officers over the next decade as they head toward retirement, according to XINNIX, which helps train mortgage lending professionals.

HousingWire, May 12, 2017–Brena SwansonNew York Department of Financial Services announced it will be transitioning to the Nationwide Multistate Licensing System and Registry in order to manage the license application and ongoing regulation of all nondepository financial institutions doing business in New York.

Bloomberg, May 12, 2017–Sho ChandraData released Friday showed consumer retail purchases rose last month, albeit less than forecast, after a March gain that was revised from a decline, indicating the early-2017 slowdown was transitory. The consumer-price index stabilized in April following the first drop in a year, though a gauge excluding food and energy posted the smallest year-over-year increase since October 2015.

The Atlantic–Derek ThompsonIt might be one of the most important policies in the U.S. economy, but the mortgage-interest deduction sounds esoteric to most people. Perhaps that’s because, for most people, it’s completely irrelevant.

Wall Street Journal, May 14, 2017–Lev Borodovsky (subscription)Rising demand for luxury apartments has spurred an epic building boom that now threatens the health of this sector of the U.S. housing market.