Category: Top National News

HousingWire, Apr. 5, 2017–Kelsey RamirezPrivate sector employment increased a seasonally-adjusted 263,000 in March, the report showed. This is down slightly from February’s predicted increase of 298,000.

Bloomberg, Apr. 5, 2017–Benjamin Bain; Robert SchmidtPresident Donald Trump’s push to roll back Wall Street regulations is being held up by his inability to fill open seats at the two main agencies charged with overseeing the financial industry.

Reuters, Apr. 5, 2017–Eric WalshU.S. President Donald Trump hopes to sign “several more” measures into law before the end of April to roll back Obama-era regulations under the time-limited Congressional Review Act, a White House official said on Wednesday.

Reuters, Apr. 5, 2017–Richard LeongThe U.S. economy’s service sector expanded in March but at its slowest pace since October, the Institute for Supply Management reported.

Washington Post, Apr. 5, 2017–Travis AndrewsPayless ShoeSource became the latest major retailer to declare financial distress when, on Tuesday, the company filed for Chapter 11 bankruptcy and announced a restructuring plan that includes the immediate closure of 400 stores in the United States and Puerto Rico.

Mortgage Daily, Apr. 5, 2017Federally insured reverse mortgage production jumped to the highest level since the summer of 2015 despite a drop in the number of originators.

CNBC, Apr. 5, 2017–Patti DommThe Federal Reserve, in the minutes from its last meeting, announced that it would begin to shrink its balance sheet, ending some of the extreme measures it took to save the economy during the financial crisis.

HousingWire, Apr. 5, 2017–Ben LaneCastle & Cooke Mortgage, an independent mortgage lender, is expanding into consumer direct lending with the launch of a consumer direct team.

Wall Street Journal, Apr. 5, 2017–Kirsten Grind (subscription)Sen. Tom Cotton, R-Ark., introduced legislation Wednesday that would require private lenders in a loan program known as Property Assessed Clean Energy, or PACE, to be regulated much like traditional mortgage lenders.

Forbes, Apr. 4, 2017–Clint GharibTraditional mortgage applications are flagged if an applicant’s income decreases by 25% or more from the previous year, regardless of income level. Banks used to review these situations case by case, but they now follow stricter guidelines.