Mortgage Daily, Mar. 6, 2017The Conference of State Bank Supervisors reported 562,837 originators who were registered or licensed through the Nationwide Mortgage Licensing System as of the fourth quarter.
Category: Top National News
Consumer Bankruptcies Up But Off from Year Prior
Mortgage Daily, Mar. 6, 2017Including commercial and non-commercial activity, there were 58,336 debtors who filed a new case with U.S. Bankruptcy Courts in February.
The Growing Gap Between Jobless Claims and Job Losses
Wall Street Journal, Mar. 6, 2017–Jeffrey Sparshott (subscription)There is a growing gap between the number of workers losing their jobs and the number applying for unemployment benefits, and it’s not entirely clear why.
Once-Skittish Investors Warming Up to Ginnie Mae Servicing Rights
National Mortgage News, Mar. 6, 2017–Bonnie Sinnock (subscription)Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.
United States Flips Sides, Supports PHH in Case Against CFPB
HousingWire, Mar. 6, 2017–Brena SwansonThe United States revealed last Friday that it now supports PHH in its landmark case against the Consumer Financial Protection Bureau, switching sides from its original stance back in December.
U.S. Factory Orders Rise for Second Straight Month
Reuters, Mar. 6, 2017–Lucia MutikaniNew orders for U.S.-made goods increased for a second straight month in January, suggesting the recovery of the manufacturing sector was gaining momentum as rising prices for commodities spur demand for machinery.
More Homeowners Cashing in on Their New Housing Wealth
CNBC, Mar. 3, 2017–Diana Olick Homeowners are opening their favorite piggy bank again–their homes.
Yellen Signals Rate Increase Likely at March Fed Meeting
Wall Street Journal, Mar. 3, 2017–Harriet Torry (subscription)Federal Reserve Chairwoman Janet Yellen signaled the central bank is on course to pick up the pace of interest-rate increases, with the next rise coming as soon as March and more to come later this year.
J.D. Power: Sales Practices Threaten Customer Satisfaction in Banking Industry
HousingWire, Mar. 3, 2017–Kelsey RamirezRetail bank, mortgage and financial services firms saw a five-year trend of consistently improving customer satisfaction, however perception of excessive sales pressure now threatens that trust, according to the J.D. Power report.
U.S. Service Industries Grow at Fastest Pace Since October 2015
Bloomberg, Mar. 3, 2017–Patricia LayaAmerican service companies expanded in February at the fastest rate since October 2015 amid stronger orders, signaling momentum in the economy’s biggest sector.