Washington Post, Feb. 23, 2017–Kathy OrtonMortgage rates remain stuck in a holding pattern. For more than a month now, home loan rates have proved stubbornly constant.
Category: Top National News
The Mortgage Market is Now Dominated by Non-Bank Lenders
Washington Post, Feb. 23, 2017–Michele Lernerthe landscape of the lending market has shifted dramatically over the past few years from domination by big banks to a market where more loans are made by non-banks–financial institutions that only make loans and do not offer deposit accounts such as a savings account or checking account.
Prudential Mortgage Capital Becomes PGIM Real Estate Finance
Commercial Property Executive, Feb. 23, 2017–Barbra MurrayThe new name will clearly distinguish each of the company’s 22 global offices as part of a singular entity.
CFPB Faces Catch-22 on Pending Arbitration Rule
National Mortgage News, Feb. 23, 2017–Ian McKendry (subscription)The Consumer Financial Protection Bureau’s arbitration rule will likely be overturned by Congress if the agency moves ahead with finalizing it.
Fitch: Is There a Housing Bubble in These Hot, Hot Markets?
HousingWire, Feb. 23, 2017–Ben LaneA new report from Fitch Ratings suggests that Texas is one a few states where home prices are not only unsustainable, they’re overheating.
Landlords Are Taking Over the U.S. Housing Market
Bloomberg, Feb. 23, 2017–Patrick ClarkAs rising home prices, slow new home construction, and demographic shifts push homeownership rates to 50-year lows, the U.S. is increasingly a country of renters–and landlords.
U.S. Labor, Housing Markets Data Underscore Economy’s Stamina
Reuters, Feb. 23, 2017–Lucia Mutikani”All indications are that job creation remains solid, underscoring the resiliency of the nearly eight-year economic recovery,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Mich. “A March (rate) hike cannot be ruled out.”
Risk of Default Down on Mortgages
Mortgage Daily, Feb. 23, 2017In the third quarter of last year, the country’s residential lenders generated $505.2 billion in mortgage production, VantageScore Solutions LLC said.
Federal Court Ruling on Mortgage Giants Likely to Slow Revamp
Bloomberg, Feb. 23, 2017–Joe LightU.S. Treasury Secretary Steven Mnuchin’s seriousness about overhauling the nation’s $10 trillion mortgage market will soon be tested. A federal appeals court Tuesday dealt a blow to hedge funds that own Fannie Mae and Freddie Mac shares, ruling that investors weren’t entitled to billions of dollars of profits.
Bazemore to Retire From Radian Guaranty in April
National Mortgage News, Feb. 23, 2017–Brad Finkelstein (subscription)Teresa Bryce Bazemore, president of Radian Guaranty, will retire from the private mortgage insurer at the end of April.