HousingWire, Feb. 7, 2017–Joseph MurinMurin said Ginnie Mae has become a “driver” in the American economy.
Category: Top National News
Trump’s Dodd-Frank Do-Over Diverted to Slow Lane With Obamacare
Bloomberg, Feb. 7, 2017–Steven T. Dennis; Elizabeth DexheimerPresident Donald Trump’s pledge to dismantle the Dodd-Frank financial overhaul is colliding with the same reality as his pledge to gut Obamacare: The Republican majority in Congress can’t decide how to make it happen and Democrats are vowing to fight.
Six Safe Ways To Loosen Mortgage Standards
Mortgage Orb, Feb. 7, 2017–Peter G. MillerThere’s always a demand for looser credit, especially among those who do not face losses in the event of a foreclosure. For mortgage lenders, investors and insurers, the big issue is how to balance risk and reward.
U.S. Trade Deficit Last Year Was Widest Since 2012
Wall Street Journal, Feb. 7, 2017–Ben LeubsdorfThe U.S. logged a $502.25 billion trade deficit in 2016, the largest in four years and a gap President Donald Trump is setting out to narrow to bolster the U.S. economy.
Hiring and Job-Quitting Rates Remain Shy of Recent High-Water Marks
Wall Street Journal, Feb. 7, 2017–Josh ZumbrunThe monthly pace of hiring and job quitting has spent an entire year struggling to match the job-hopping pace that was notched at the end of 2015. The labor market’s momentum didn’t make progress through the end of the year, with the pace of hiring, firing and quitting little changed in December from previous months.
Mortgage Standards Sustained at Banks
Mortgage Daily, Feb. 7, 2017For most depository institutions, credit standards for a range of residential lending programs haven’t changed much over the past three months. Demand was mixed.
FHA Settlement for Firm, Senior Executives
Mortgage Daily, Feb. 8, 2017Franklin First Financial LTD and top executives have settled allegations of concealing loan defaults on government-insured mortgages.
Acquisition Creates No. 4 Correspondent Originator
Mortgage Daily, Feb. 7, 2017With an acquisition deal negotiated, Flagstar Bancorp Inc. will be able to claim the title of the fourth-largest correspondent mortgage originator.
Bankers Stick to ‘Bread and Butter’ Loans
National Real Estate Investor, Feb. 8, 2017–Beth Mattson-TeigIt is business as usual for bank lenders, and many are anticipating that 2017 lending volumes will be on par with 2016.
New York Community Holds Out Hope of Revisiting Terminated Deal
National Mortgage News, Feb. 7, 2017–Jackie StewartJoseph Ficalora, New York Community’s CEO, told analysts that his company could still have a chance to buy Astoria “down the road.”