CNBC, May 11, 2016–Olick, Diana
Despite the lowest interest rates in nearly three years, the number of people applying for a mortgage barely moved last week. Total volume increased 0.4 percent from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
DS News, May 11, 2016–Honea, Brian
Delinquent Notice BHSerious delinquencies on credit cards and auto loans rose in Q1 to levels not seen in the first quarter in the last three years, largely due to the oil slump that impacted the economy in energy-sector states such North Dakota, Oklahoma and Texas, according to TransUnion.
National Mortgage News, May 11, 2016–Nazzaro, Craig
The FHA loan program and its related benefits are under threat as the Department of Justice continues to bring investigations and actions against lenders under the False Claims Act.
HousingWire, May 11, 2016–Swanson, Brena
Lenders are finally catching on that they can’t keep doing business as usual if they still want to exist in the future, ultimately looking toward the next generation of loan officers, Millennials, to fill their open seats.
Reuters, May 11, 2016–Cassella, Megan The U.S. government posted a $106 billion budget surplus in April, down 32 percent from the same period last year, the Treasury Department said on Wednesday.
Bloomberg, May 10, 2016–Dexheimer, Elizabeth
Marketplace lenders need to be more transparent about their business practices and should be subject to additional oversight from federal regulators, according to a U.S. Treasury study released just as the industry grapples with market turmoil and a scandal facing one of the biggest lenders.
National Mortgage News, May 10, 2016–Passy, Jacob
Commercial real estate executives remain upbeat about their prospects for 2016, though they do see some potential hurdles on the horizon, according to CIT Group’s 2016 Commercial Real Estate Outlook survey.
HousingWire, May 10, 2016–Lane, Ben
Homes in some stage of foreclosure and the number of seriously delinquent mortgages are now at levels not seen since late 2007, according to a new report from CoreLogic.
HousingWire, May 10, 2016–Swanson, Brena
Stonegate Mortgage didn’t get away from the financial impact of the first quarter’s historically low interest rates, which already dented the performance of most other lenders due to negative adjustments to the “fair value” of each company’s mortgage servicing rights portfolio.
Reuters, May 10, 2016–Mutikani, Lucia
U.S. job openings increased in March to the highest level in eight months and layoffs continued to decline, indicating the labor market remains fairly robust despite April’s slowdown in employment gains.
