National Mortgage News, Apr. 11, 2017–John Heltman (subscription)President Trump on Tuesday reiterated his pledge to roll back the Dodd-Frank Act and replace it with “something else,” although the prospects of such a legislative overhaul remain remote.
Category: Top National News
Commercial Lenders Brace for Damage from Retail Plunge
National Mortgage News, Apr. 11, 2017–Andy Peters (subscription)A litany of bankruptcies among retailers has many lenders on edge as they and others try to predict how much damage it could do to bank earnings–and how soon.
Home Prices Rising, Yes, But Not as Fast as Homeowners Think
HousingWire, Apr. 11, 2017–Kelsey RamirezHome values continued their upward climb, however not quite as fast as homeowners estimated, according to Quicken Loans’ Home Price Perception Index.
Why Millennials May Finally Be Ready for Homeownership
National Mortgage News, Apr. 12, 2017–Lew Sichelman (subscription)Have millennials who have been slow to jump onto the housing ladder finally figured out the path to wealth their parents followed? A survey from Bank of America suggests they have – and that they are moving happily along their way toward being for-real grownups.
Business Slows at PRMI
Mortgage Daily, Apr. 11, 2017Home-lending activity slowed on a quarter-over-quarter basis at Primary Residential Mortgage Inc., though year-over-year production held up.
Mortgages Go Mobile
Mortgage Daily, Apr. 11, 2017–Sam GarciaFinancial services firms continue to delve deeper into mobile technology to enhance the customer experience, and service providers are helping them along the way.
PNC Settles LO Overtime Lawsuit
Pittsburgh Tribune-Review, Apr. 11, 2017–Brian BowlingPNC Financial Services Group Inc. has agreed to pay $16 million to settle a federal overtime lawsuit filed by current and former mortgage loan officers.
U.S. Job Openings Rise to Seven-Month High in February
Reuters, Apr. 11, 2017–Lucia MutikaniJob openings, a measure of labor demand, increased 118,000 to a seasonally adjusted 5.7 million, the Labor Department said on Tuesday.
Financial Services Roundtable Selects Ed DeMarco to Serve as Housing Policy Council President
HousingWire, Apr. 11, 2017–Brena SwansonFormer Federal Housing Finance Agency Acting Director Ed DeMarco joins the Financial Services Roundtable leadership team as FSR’s Housing Policy Council president, effective June 1.
Home Loan Size Hits New Record, Powered By Low Mortgage Rates
OurBroker.com, Apr. 10, 2017–Peter G. MillerAccording to the Mortgage Bankers Association the average purchase mortgage is now $318,200, the highest level on record since the Association began tracking such data in 1990.