HousingWire Magazine, Apr. 30, 2016–Swanson, Brena
Saddled with legacy systems and burdened with changing regulations, the mortgage industry has been slow to adopt digitization compared to many other industries. Now, however, the industry must provide more transparency to regulators and satisfy consumers while managing tighter margins. In this perfect storm, there’s only one lifeboat–a digital process.
Forbes, Apr. 28, 2016–McCarthy, Niall
A recent Gallup survey found that American renters are almost twice as likely to worry about not being able to pay their housing costs as homeowners. Overall 33 percent of Americans are very or moderately worried about paying their rent, mortgage or other housing costs. However, renters are the ones most often awake at night, fretting over their finances.
Forbes, Apr. 28, 2016, McGraw, Tanner
Startup business may be a bit of an enigma to many CRE brokers, but there’s a lot of upside potential: repeat business as companies grow, a community for referrals and the competitive edge that comes from gaining expertise in an underserved sector.
Urban Institute, Apr. 28, 2016–Morial, Marc
The former New Orleans mayor says policy makers have an obligation to rebuild the American Dream through homeownership for an emerging generation of Americans, and presents a path toward this objective.
Washington Post, Apr. 28, 2016–Orton, Kathy
Because of the dovish tone struck by the Fed, home loan rates, which rose last week, are expected to reverse course.
National Mortgage Professional, Apr. 28, 2016–Hall, Phil
The first quarter of this year was something of a dud for commercial and multifamily originations, according to new data from the Mortgage Bankers Association.
Wall Street Journal, Apr. 28, 2016–Strasburg, Jenny; Letzing, John; Colchester, Max
Current and former executives at Credit Suisse Group AG, stretching from New York to the Swiss lender’s top ranks in Zurich, are sparring over who was responsible for the bulk of almost $1 billion in losses in recent months.
National Mortgage News, Apr. 28, 2016–Sinnock, Bonnie
During the mortgage crisis, servicers recruited people from the origination business to help with loan modifications. Now the two sides of the industry are coming together in a new way.
National Mortgage News, Apr. 28, 2016–Finkelstein, Brad
Arch Capital saw a 77% increase in the mortgage insurance segment’s operating income, and its U.S. unit saw its new insurance written increase by 34%.
National Mortgage News, Apr. 28, 2016–Berry, Kate
The Consumer Financial Protection Bureau will propose changes in late July to its mortgage disclosure rule to provide “greater certainty and clarity” to the mortgage industry. Pete Mills, a senior vice president of residential policy and member services at the Mortgage Bankers Association, said the changes requested by the industry do not involve policy issues but rather resolving differing interpretations of the rule.
