Wall Street Journal, Apr. 13, 2017–Telis Demos (subscription)Citigroup Inc. said first-quarter profit rose 17%, as rising interest rates boosted client trading activity more than the bank’s lending profits.
Category: Top National News
Foreclosure Activity is at the Lowest Level in Over a Decade
National Mortgage News, Apr. 13, 2017–Brad Finkelstein (subscription)First-quarter foreclosure activity was down 19% from the same period last year to the lowest level since the third quarter of 2006, said ATTOM Data Solutions.
New 2017 Low for Mortgage Rates, Could Fall More
Mortgage Daily, Apr. 13, 2017–Sam GarciaInterest rates on residential loans fell to a new low for this year, and it’s quite possible they could be much lower in next week’s report.
These Are the States Where Mortgage Debt Is Rising Fastest
Palm Beach Post (Fla.), Apr. 14, 2017–Bob SullivanMortgage debt is rising fast. Nationwide, the average balance owed on a mortgage is $196,014, up 2.5% from the year prior and 6.4% from nine years ago, said Experian.
Embrace the Mortgage Robotics Revolution
National Mortgage News, Apr. 13, 2017–Austin Kilgore (subscription)A number of lenders and servicers are already implementing RPA technology into their operations with great success–a technology with the potential to not only supplant the traditional role of the loan officer, but to also radically reshape the entire mortgage manufacturing process.
Forecasters Lower Growth Outlook as Hopes for Quick Stimulus Fade
Wall Street Journal, Apr. 13, 2017–Josh Zumbrun (subscription)A growing number of forecasters are beginning to reconsider their bullish outlook for the U.S. economy as doubts grow over the extent to which President Donald Trump will be able to implement his agenda.
The Historic “Reset” For Mortgage Lending Is Underway
GoRion, Apr. 12, 2017–Faith SchwartzThe author, principal with Housing Finance Strategies LLC, says as we reset our thinking around the composition of the market with new first time homebuyers, increasing minority led households, and tight regulation that narrows the band of offerings, our industry should focus on innovative products to meet the needs of today’s consumer.
Mortgage Applications Rise 1.5 Percent, as Interest Rates Fall to 2017 Low
CNBC, Apr. 12, 2017–Diana OlickTotal mortgage application volume rose 1.5 percent on a seasonally adjusted basis for the week from the previous week. Volume was 21 percent lower than during the same week a year ago, according to the Mortgage Bankers Association.
Commercial/Multifamily Off to Uncertain Start after Strong 2016
Mortgage Professional America, Apr. 12, 2017–Ryan SmithCommercial and multifamily mortgages had a strong year in 2016, but the space is off to an uncertain start in 2017, according to new data from the Mortgage Bankers Association.
Suburban New York Housing Market Turns Red Hot
Wall Street Journal, Apr. 12, 2017–Josh Barbanel (subscription)Property boom redux: Sellers see multiple offers above asking price in Manhattan suburbs.