NPR, May 23, 2016–Noguchi, Yuki
Many of the department stores that once anchored bustling shopping malls continue to close. Mall owners are adding movie theaters, restaurants, gyms and other ‘experiential’ tenants instead.
Category: Top National News
House Passes Bill to Increase Job Mobility for Mortgage Officers
National Mortgage News, May 23, 2016–Collins, Brian
The House passed a bill by a voice vote Monday that will make it easier for mortgage originators to take a new job across state lines or move from a federally regulated bank to a nonbank lending shop. “This is an important piece of bipartisan legislation which will help all lenders recruit experienced mortgage loan officers without unnecessary barriers to employment mobility and job opportunity,” said David Stevens, the president and chief executive officer of the Mortgage Bankers Association.
How Paying Down Credit Cards Faster Will Get You in a New Home
MarketWatch, May 20, 2016–Goldstein, Daniel
Starting in June, Fannie Mae says when it comes to buying home loans it will now favor borrowers who are making efforts to pay down their credit cards, rather than just pay the monthly minimums. Mike Fratantoni, chief economist for the Mortgage Bankers Association, said that the changes by Fannie Mae “could help consumers as it has the potential to provide a more comprehensive summary of a credit history.”
Existing Home Sales Manage to Increase Two Months Straight
HousingWire, May 20, 2016–Swanson, Brena
Existing home sales managed to once again overcome today’s low-inventory environment and move higher for the second consecutive month, according to the National Association of Realtors. So far this spring has yet to take off due to a flurry of factors that are growing into the “perfect storm” to hinder housing, explained Kevin Golden, director of analytics with a la mode, at the Mortgage Bankers Association’s Secondary Market conference in New York City.
Mortgage-Backed Securities: The Case for Safety and 2% Yields
Barron’s, May 20, 2016–Stone, Amey
There aren’t a lot of great fixed-income options now that the Fed is talking about hiking rates, Treasuries are selling off and the rally in corporate credit has stalled. One suggestion from the folks at LPL Financial is mortgage-backed securities, or bonds that are backed by pools of mortgages.
Court Wins Set Important Precedent for Paperless Mortgages
National Mortgage News, May 20, 2016–Passy, Jacob
Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.
Fed’s Tarullo Outlines Rules for Big U.S. Insurers
Wall Street Journal, May 20, 2016–Tracy, Ryan
Big U.S. insurers Prudential Financial Inc. and American International Group Inc. would face tougher capital requirements than their peers under new rules outlined for the first time Friday by the Federal Reserve’s point-man on regulation.
How Clinton Would Reform the Housing Finance System
National Mortgage News, May 20, 2016–McKendry, Ian
Presumptive Democratic nominee Hillary Clinton appears likely to embrace a recent plan to merge Fannie Mae and Freddie Mac into a single government corporation if she wins the White House.
LendingClub is Ruining It for the Rest of Fintech
Bloomberg, May 20, 2016–Dexheimer, Elizabeth
Washington lobbyists for online lenders have a new challenge: LendingClub Corp. Scandal, fleeing investors and a subpoena at the high-profile financial-technology firm aren’t the only bumps in the road.
Crime Stats Not Easy to Find
UExpress, May 20, 2016–Sichelman, Lew
In a recent survey by BDX, an online marketing resource for builders, people said the No. 1 thing missing in their real estate web searches are crime figures.