Reuters, June 19, 2017–Jamie McGeeverU.S. banks are profiting from higher official interest rates by not commensurately increasing the rates paid out on deposits.
Category: Top National News
PHH Completes The Sale of its Freddie Mac MSRs to New Residential
National Mortgage News, June 19, 2017–Brad Finkelstein (subscripition)PHH Corp. completed the sale of its Freddie Mac mortgage servicing rights portfolio to New Residential Corp. on June 16.
U.S. Bank Investors Hope Fed Stress Test Results Lead to Big Payouts
Reuters, June 19, 2017–Pete Schroeder, David HenryInvestors are hoping the Federal Reserve will allow big U.S. banks to put an estimated $150 billion in idle capital toward stock buybacks, dividends and profit-boosting investments in the coming weeks after conducting a regular examination of financial strength.
Purchases Drive Up Monthly Home Lending
Mortgage Daily, June 19, 2017U.S. residential loans that were originated in March preliminarily totaled 441,506 mortgages with an aggregate principal balance of $112.149 billion, said ATTOM Data Solutions.
Mortgage Marketing Moves Forward
Mortgage Daily, June 19, 2017–Sam GarciaMortgage industry service providers are helping home lenders with their marketing and advertising.
Commercial Mortgage Debt Tops $3 Trillion
Scotsman Guide, June 16, 2017–Victor WhitmanCommercial and multifamily debt held by banks and other major investors surpassed the $3 trillion mark for the first time ever in the first quarter, the Mortgage Bankers Association reported.
More than Half of U.S. Renters Can’t Afford a Mortgage
MarketWatch, June 16, 2017–Jacob PassyAcross the country, only 45% of renters on average can afford the payments on a median-priced home in their area, according to new report on the state of housing from Harvard University’s Joint Center for Housing Studies.
Economists: Housing Inventory Could Soon Turn into Emergency
HousingWire, June 16, 2017–Kelsey RamirezEconomists are saying the drop in housing starts could intensify in the months ahead as building permits also saw a drop in May.
For Millennials, Security Tops Speed in Lending Priorities
UExpress, June 16, 2017–Lew SichelmanMillennials, the population cohort whose members were practically born with electronic devices in their hands, are generally considered the most likely to finance a house through a totally automated process. But even they want some hand-holding, according to a recent survey.
Housing Market Still Needs Fixing
Wisconsin State Journal, June 17, 2017–Joe DoyleTaxpayers already spent $187 billion to bail out these private entities, known by their colloquial names Fannie Mae and Freddie Mac. Fortunately, the Mortgage Bankers Association has stepped up with detailed recommendations to unleash the credit required.