National Mortgage News, Apr. 18, 2017–Laura Alix (subscription)Regions Financial in Birmingham, Ala., reported an increase in its first-quarter profit, as higher market interest rates and investment securities balances offset lower average loan balances.
Category: Top National News
Expected Fed Pick on Collision Course With Current Members on Rates
Wall Street Journal, Apr. 18, 2017–Kate Davidson, Ryan Tracy (subscription)President Donald Trump’s expected choice to be vice chairman at the Federal Reserve, Randal Quarles, has called for setting interest rates using a formula, setting up a clash with current officials who have warned such an approach could undermine the central bank’s effectiveness.
Best Bet for Single-Family Construction Loans is Smaller Banks, Study Suggests
National Mortgage News, Apr. 18, 2017–Brian Collins (subscription)Homebuilders looking for single-family construction loans may have better luck with small and midsize banks than larger ones, according to a recent report by the National Association of Home Builders.
Tax Reform Before August is Unlikely, Mnuchin Says
Los Angeles Times, Apr. 18, 2017–Jim PuzzangheraThe Trump Administration is unlikely to meet its self-declared August deadline for enacting tax reform, Treasury Secretary Steven Mnuchin said, which will make it more difficult for companies to factor any changes into their spending decisions.
Goldman Sachs Posts Rare Miss in First-Quarter Earnings
HousingWire, Apr. 18, 2017–Brena SwansonThe megabank missed earnings expectations in both earnings per share and revenue, causing its stock to fall to its lowest level in nearly five months.
Mortgage Hippo Raises $2.25M in Seed Money Led by CMFG Ventures
HousingWire, Apr. 18, 2017–Brena SwansonMortgageHippo, a Chicago based mortgage technology company, raised $2.25 million in seed capital, led by CMFG Ventures, the venture capital entity of CUNA Mutual Group, triple what it originally expected.
BofA Posts Solid Growth Boosted by Trading, Rates
Reuters, Apr. 18, 2017–Dan Freed, Nikhil SubbaBank of America Corp’s quarterly profit rose 44 percent as its investment banking and trading units produced hefty gains, and higher long term interest rates also underpinned results for the second-largest U.S. bank.
2 Solid Quarters of Home Purchase Financing Ahead
Mortgage Daily, Apr. 18, 2017Secondary market giant Freddie Mac expects industry-wide mortgage production to come in at $443 billion in the second quarter then dip to $432 billion three months later.
Dozens Of Regions Hirings Planned for MS
Mortgage Daily, Apr. 18, 2017A new high-tech operations facility being built by Regions Bank in Mississippi is expected to create dozens of new jobs mostly in its mortgage business.
The 10 Suburban Office Markets with the Highest Rent Increases
National Real Estate Investor, Apr. 18, 2017–Elaine MisonzhnikAs suburban office markets come back into fashion, some have experienced greater demand from tenants than others.