Wall Street Journal, May 9, 2017–Josh Zumbrun (subscription)The Labor Department’s main jobs report in March showed a small slump in hiring, but a secondary jobs report for that month, released Tuesday, showed little change in the labor market’s underlying momentum.
Category: Top National News
12 Cities Where Home Purchase Power is Plummeting
National Mortgage News, May 9, 2017–Glenn McCullom (subscription)National home prices are soaring, as tight inventory and high demand–not to mention higher interest rates–are making it harder for consumers to buy homes.
Ocwen and Radian Guaranty Showdown in Court for Alleged Breach of Contract
HousingWire, May 9, 2017–Kelsey RamirezIn short, Ocwen accuses Radian of not paying up on more than 9,000 defaulted mortgages; Radian is saying the claims are meritless.
Fed’s Rosengren Warns GSE Reform Could Threaten Property Market
Bloomberg, May 9, 2017–Christopher CondonPlans by Republican lawmakers and the Trump administration to reform government-backed mortgage companies could lead to a “significant shock” to the market for multi-family commercial real estate, said Federal Reserve Bank of Boston President Eric Rosengren.
Fed’s Kashkari: Blockchaing Has More Potential than Bitcoin Itself
Reuters, May 9, 2017–Lindsay DunsmuirBlockchain, a ledger of transactions maintained by a network of computers, first burst on to the scene as the technology underpinning bitcoin. It has gained traction all over the world for its ability to record and track the movement of assets.
Investors Baffled Over OCC’s Closure of WI Bank
Milwaukee Journal Sentinel, May 9, 2017–Paul GoresNew investors were on the verge of pumping $100 million into Guaranty Bank, a prospect that should have stopped federal regulators from shutting the Glendale-based institution last week, an investment banker who was working with the investors said Monday.
Mortgage Originations Sink to 16-Year Low
Mortgage Daily, May 9, 2017Preliminary volume of home loans closed in February was lower than any month in the past 16 years, said ATTOM Data Solutions.
Lending, Servicing Down as Fairway Staffing Grows
Mortgage Daily, May 9, 2017Loan originations and servicing contracted on a quarter-over-quarter basis at Fairway Independent Mortgage Corp. But headcount continued to expand.
The $9 Trillion Question: What Happens When Central Banks Stop Buying Bonds?
Wall Street Journal, May 10, 2017–Jon Sindreu (subscription)Central banks have been the world’s biggest buyers of government bonds and may soon turn into sellers-a tidal shift for global markets. Yet investors can’t agree on what that shift will mean.
CFPB Makes First Move Toward Small-Biz Data Requirements
National Mortgage News, May 10, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of small-business lending data.