Reuters, June 15, 2017The Federal Reserve bought $4.715 billion of agency mortgage-backed securities in the week from Jun. 8 to Jun. 14, compared with $5.753 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.
Category: Top National News
Lawmakers Remain Split as Regional Banks Press for Relief
National Mortgage News, June 15, 2017–Ian McKendry (subscription)Senate Banking Committee Chairman Mike Crapo sounded optimistic Thursday about reaching a bipartisan deal for regulatory relief, but a hearing with regional and large-bank representatives once again emphasized the gulf between what lawmakers are likely to pass and what the industry is seeking.
Fiserv Moves to Acquire London-Based Monitise for $90 Million
HousingWire, June 15, 2017–Ben LaneFiserv, which also provides financial services technology, said that the acquisition will help the company accelerate its digital strategy and the “development of a next-generation digital banking platform for leading financial institutions worldwide.”
Are Stagnant Wages Dimming the American Dream of Home Ownership?
GoRion, June 14, 2017–Sam BourgiHome prices are climbing more than twice as fast as earnings, making the American Dream of homeownership out of reach for many first-time buyers.
Homeownership Education is Evolving and It’s Good for Business
Fannie Mae, June 14, 2017–Mike HernandezFannie Mae vice president says industry must work harder to allow homeowner education to fit their needs.
Economist: Fed Rate Increase Doesn’t Matter to Housing Market
HousingWire, June 14, 2017–Kelsey RamirezFirst American Financial Corp. Chief Economist Mark Fleming said mortgage rates are benchmarked to 10-year Treasury bond, not federal funds rate.
High-Flying Mortgage Firm Buys Struggling Black-Owned Bank
National Mortgage News, June 14, 2017–John Reosti (subscription)Movement Mortgage in Charlotte, N.C., confirmed Wednesday it had recapitalized the $29 million-asset First State Bank for an undisclosed amount.
U.S. Consumer Prices, Retail Sales Weaken in May
Reuters, June 14, 2017–Lucia MutikaniU.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve’s ability to continue raising interest rates this year.
Couple Claims Victory in 10-Year-Old Foreclosure
Newsday, June 14, 2017–Maura McDermottFred and Theresa Tovar’s mortgage lender–originally Beneficial Homeowner Service Corp., and later U.S. Bank Trust N.A.–had until Friday to file a motion seeking permission to take the case to the state’s highest court, the Court of Appeals.
Integrations Enhance Mortgage Pricing Engines
Mortgage Daily, June 14, 2017–Sam GarciaRecent enhancements to product eligibility and pricing engines include integrations with mortgage insurance companies and customer relationship management providers.