Category: Top National News

American Banker, May 5, 2017–Paul H. Kupiec (subscription)As Treasury Department officials review the Financial Stability Oversight Council’s designation process, they should also reexamine how the Dodd-Frank Act defines systemic risk.

Bloomberg, May 5, 2017–Matt Scully, Chris DolmetschIn the stock market, the tape never lies. In the bond market, sometimes traders do. That’s the message federal authorities have been sending for years as they’ve targeted dubious practices on Wall Street bond desks.

Reuters, May 5, 2017–Ann Saphir, Howard SchneiderThe Federal Reserve has interest rates right where they should be, but should start trimming its massive balance sheet in the second half of the year, St. Louis Federal Reserve Bank President James Bullard said on Friday.

National Mortgage News, May 5, 2017–Brad Finkelstein (subscription)Essent Group Ltd., the Hamilton, Bermuda-based parent of Essent Guaranty, reported first-quarter net income of $66.6 million. This was an increase of nearly 39% over the $48 million net income for the first quarter of 2016. Total revenue increased to $127.6 million from $102.5 million one year ago.

HousingWire, May 5, 2017–Pem GuerryNational organizations are increasingly endorsing e-notarizations and remote notarizations, and their uses are spreading. The Mortgage Bankers Association is hosting a series of webinars this summer on the opportunities and challenges in the e-mortgage space, which includes e-notarizations and remote notarizations.

HousingWire, May 5, 2017–Matt SlonakerBy all accounts, our industry is moving well into the recovery. For some players, including the nation’s banks and capital markets investors who have invested heavily in distressed loan portfolios, this is misleading.

Mortgage Daily, May 5, 2017A significant quarter-over-quarter decline in home lending at PennyMac Financial Services Inc. contributed to a sharp drop in earnings. Staffing also contracted.

Mortgage Daily, May 5, 2017While the market is still digesting mixed monthly data on employment among all industries, mortgage brokers pushed up jobs in home lending.

National Real Estate Investor, May 8, 2017–Gary BechtelAccording to new statistics from the Mortgage Bankers Association, real estate lending is slowing down. Lenders closed $491 billion in mortgage loans in 2016, down 3 percent from the previous year.

MarketWatch, May 4, 2017–Andrea RiquierWhat Kayak.com does for travel booking, online mortgage broker Morty aims to do for the mortgage process.