Wall Street Journal, May 4, 2017–Natalie Andrews (subscription)The Senate passed a $1.1 trillion bill to fund the government through Sept. 30, sending on Thursday the bill to the president’s desk and taking a major step to avoid a partial government shutdown this weekend.
Category: Top National News
Less Credit Available as Lenders Cut Conforming Offerings
National Mortgage News, May 4, 2017–Brad Finkelstein (subscription)Mortgage credit availability declined in April as lenders cut back on the number of conforming products they offered, the Mortgage Banker Association reported.
Loan Officers’ Online Presence is Often Flawed, Study Finds
National Mortgage News, May 4, 2017–Bonnie Sinnock (subscription)Many loan officers don’t have an online presence, and a lot of those who do have neglected to correct errors and inaccuracies in key information, technology vendor Yext said.
U.S. Productivity Falls by Most in a Year; Labor Costs Climb
Bloomberg, May 4, 2017–Sho ChandraU.S. worker productivity declined in the first quarter by the most in a year as growth in the world’s largest economy weakened, a Labor Department report showed Thursday.
Risk of Default Rises on New Originations
Mortgage Daily, May 4, 2017As quarterly home lending activity slowed late last year, the risk that the newly made loans would default moved higher, said Vantage Score LLC.
Industrial Properties, GSEs Lead CRE Lending Up
Mortgage Daily, May 4, 2017Commercial real estate loan originations tumbled from the final-three months of last year, when commercial mortgage production was estimated at $153 billion. But activity accelerated from an estimated $102 billion in CRE loan closings during the first-three months of last year, the Mortgage Bankers Association reported.
More Companies Willing to Take on the Consumer Financial Protection Bureau
Wall Street Journal, May 5, 2017–Yuka Hayashi (subscription)Companies targeted by the Consumer Financial Protection Bureau are more frequently choosing to fight enforcement actions rather than settle, as Republican control of the White House has put the agency’s future in doubt.
Situs buys The Collingwood Group
National Mortgage News, May 4,2017–Bonnie Sinnock (subscription)Real estate finance advisory services and technology provider Situs has purchased The Collingwood Group, a Washington advisory group staffed largely by former government mortgage agency officials.
CFPB Begins Process to Review the Mortgage Servicing Rule
HousingWire, May 4, 2017–Brena SwansonThe official request asks the public to comment on the CFPB’s plan, to suggest sources of data and generally to provide other information that would help with the assessment.
Zillow Revenue Hits Record Highs in First Quarter
HousingWire, May 4, 2017–Kelsey RamirezZillow Group reported an increase in earnings in the first quarter, surpassing its own expectations and seeing a record high unique users on its site in March.