Richmond (Va.) Times-Dispatch, Apr. 17, 2017–Andrew Little Debt funds–non-bank lenders formed with contributed equity from institutional investors–are seeking to fill the void left as bank lenders have dialed back their leverage levels.
Category: Top National News
2017, 2018 Home Purchase Lending Forecast Raised
Mortgage Daily, Apr. 17, 2017Fannie Mae revised up its estimates of 2016 refinances and 2017 purchase originations.
Weekly Mortgage Market Off as ARMs, Jumbos Soar
Mortgage Daily, Apr. 17, 2017An indication of upcoming originations, the U.S. Mortgage Market Index from Mortgage Daily and OpenClose, slipped 6 percent in the week ended April 14.
IPO for Parent of 3rd Biggest AMC
Buffalo News, Apr. 17, 2017–Johnathan D. EpsteinThe Canadian parent of mortgage appraisal management firm Solidifi, whose U.S. headquarters is on Seneca Street, Buffalo, New York, is going public on the Toronto Stock Exchange so it can access more capital to support its growth plans.
Settlement Approved: Wells Fargo Customers Will Get $50 Million for Overcharged Mortgage Fees
HousingWire, Apr. 17, 2017–Ben LaneBorrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo overcharged borrowers for Broker Price Opinions during that period.
CFPB Sues Ohio Law Firm for Illegal Debt Collection Practices
National Mortgage News, Apr. 17, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Monday against Weltman, Weinberg & Reis for allegedly engaging in illegal debt collection practices after the firm said it refused to agree to a settlement.
Consumers Grow More Optimistic about Their Present Circumstances
HousingWire, Apr. 14, 2017–Kelsey RamirezConsumers grew more optimistic about their present situation than at any point since 2000, according to the Survey of Consumers conducted by the University of Michigan.
Quick Takes: Gaps, Gains and Shrinking Inventory
UExpress, Apr. 14, 2017–Lew SichelmanWomen have broken through the “glass ceiling” in the homeowners association field. But in at least nine major cities, according to a new report, they are all but shut out from buying homes themselves.
Cash-Out Refinancings on the Rise, Just Like in 2008
Washington Post, Apr. 14, 2017–Kenneth R. HarneyThey’re either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and contributed to the severity of the crash, are on the rise again.
U.S. Retail Sales, Consumer Prices Slump in March
Reuters, Apr. 14, 2017–Lucia MutikaniU.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, supporting views that the economy lost significant momentum in the first quarter.