Inman.com, Mar. 24, 2017–Steve CookSome studies suggest trended data–which exposes much more granular data about a borrower’s payment history on a monthly basis than traditional credit scores–will benefit marginal borrowers and increase mortgage approvals.
Category: Top National News
CFPB Preps to Review Major Mortgage Rules
HousingWire, Mar. 23, 2017–Brena SwansonUnder Dodd-Frank, the Consumer Financial Protection Bureau must “use available evidence and data to assess all of its rules five years after they go into effect to ensure they are meeting the purposes and objectives of Dodd-Frank, and the specific goals of the subject rule.”
Lenders Go Outside the Box to Offest Lost Production
National Mortgage News, Mar. 23, 2017–Lew Sichelman (subscription)With the big drop-off in refinancing, lenders are beginning to realize there is a whole world of would-be borrowers who have been unable to find financing for their deals, business they can address to offset lost production.
The Dead Heads of Commercial Real Estate (Including POTUS)
Commercial Observer, Mar. 23, 2017–Larry GetlenThroughout the New York real estate world, love for the Grateful Dead is ever-present, a mellow vacation and flipside to the hard-charging world of the real estate business.
Sears Has ‘Substantial Doubt’ That It Can Survive
CNN Money, Mar. 22, 2017–Chris IsidoreSears Holdings, the holding company for the two iconic retail brands–Sears and Kmart, warned investors late Tuesday that it can’t promise it will stay in business.http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html
Mortgage Applications Fall 2.7%, as Borrowers Turn to Riskier Loans
CNBC, Mar. 23, 2017–Diana OlickTotal mortgage application volume fell 2.7 percent last week from the previous week, according to the Mortgage Bankers Association. The seasonally adjusted tally stands nearly 12 percent lower than a year ago.
Tight Supply, Higher Prices Weigh on U.S. Home Sales
Reuters, Mar. 22, 2017–Lucia MutikaniU.S. home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining prospective buyers.
‘Bond King’ Jeff Gundlach Is Betting Big on the Mortgage Market
CNBC, Mar. 22, 2017–Tim MullaneyGundlach, CEO of DoubleLine Capital, is betting that the best way to play the coming rate hikes is by holding lots of mortgages, which comprise nearly 60 percent of the holdings of his exchange-traded fund Ticker.
The U.S. Apartment Boom, Measured in Construction Cranes
Wall Street Journal, Mar. 22, 2017–Stephanos Chen (subscription)Of 12 major U.S. metro areas, Chicago has the most cranes working on residential construction projects. Seattle comes in second.
CoreLogic: Paying Cash for Houses Lowest in Nearly 10 Years
HousingWire, Mar. 22, 2017–Ben LaneLast year, the share of homes bought with cash fell to the lowest level since 2007, to 32.1 percent, said CoreLogic.