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.
Category: Top National News
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.
Most Renters Blame Downpayment Woes for Not Becoming Homeowners
National Mortgage Professional, Apr. 12, 2017–Phil HallAccording to a new Zillow survey, nearly half of renters said debt and qualifying for a mortgage were their main obstacles for moving to homeownership, while nearly 40 percent cited job security as keeping them from buying a home. But saving for a downpayment was particularly difficult in some of the most expensive rental markets, most notably California’s San Jose, San Diego and Los Angeles metro areas.
CLO Managers Holding Out Hope for Regulatory Relief
National Mortgage News, Apr. 12, 2017–Glen FestThere’s a great deal of skepticism about the Trump administration’s ability to affect regulatory relief. Yet some of the players most affected by rules enacted under Dodd-Frank are preparing for its potential repeal.
Republicans Propose Drastic Overhaul of Dodd-Frank and CFPB
HousingWire, Apr. 12, 2017–Brena SwansonFollowing through on promises made by President Donald Trump, leading Congressional Republicans unveiled a new replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new proposal goes further than previous Republican efforts to overhaul Dodd-Frank.
Morgan Stanley CEO Says Repealing Dodd-Frank Is a Mistake
Bloomberg, Apr. 12, 2017–David RubensteinMorgan Stanley Chief Executive Officer James Gorman discusses why he’s against repealing Dodd-Frank. He spoke to David Rubenstein for the latest episode of Bloomberg Television’s “The David Rubenstein Show: Peer-to-Peer Conversations.” (video)
Home Purchase Financing Falls to 2-Year Low
Mortgage Daily, Apr. 12, 2017The nation’s origination of loans utilized to finance a home purchase fell to the lowest level during any month in nearly two years.