Detroit Free Press, Apr. 25, 2016–Reindl, JC
Southeast Michigan’s mortgage industry has been on a roll since last decade’s housing crash, grabbing market share from big out-of-state lenders who pulled back as some local companies stepped up. One of the latest newcomers to the business is a familiar name in metro Detroit–although never before for mortgages.
OurBroker.com, Apr. 25, 2016–Miller, Peter G.
The housing boom should be here, it really should. All the historic notions associated with a prosperous and solid real estate marketplace seem to be in place. Marina Walsh, vice president with the Mortgage Bankers Association, said signs point to higher production volumes.
Commercial Observer, Apr. 25, 2016–Mandell, David
Mandell said the economy is on the cusp of an economic downturn. “We’re at a stage where the commercial real estate community has to make a choice: fall victim to the state of the market as we have in years past, or start planning for a down market and adopt unique strategies that will drive commercial sales regardless of the state of the economy.”
HousingWire, Apr. 25, 2016–Lane, Ben
Nationstar Mortgage and Flagstar Bank are among two of the best mortgage servicers in the country, according to Fannie Mae, which recently bestowed both with its highest level of performance recognition.
Wall Street Journal, Apr. 25, 2016–Harrison, David
Federal Reserve officials are unlikely to raise short-term interest rates at their meeting this week, but could drop hints about whether they might move at their next gathering in June.
National Mortgage News, Apr. 25, 2016–Passy, Jacob
Freddie Mac has revised downward its economic forecast for the remainder of 2016 following a tepid first quarter, but still remains upbeat about the housing market.
Reuters, Apr. 25, 2016–Mutikani, Lucia
New U.S. single-family home sales unexpectedly fell in March, but the decline was concentrated in the West region, suggesting that the housing market continued to steadily improve.
Appleton Post-Crescent (Wis.), Apr. 25, 2016–Marley, Patrick; Spicuzza, Mary
The legislation Walker signed Monday follows a 2015 unanimous state Supreme Court decision upholding a 2012 law that strengthened Milwaukee’s hand in dealing with zombie homes. In that case, justices said that when a court declares a foreclosed property to be abandoned, the lender must offer it for sale. Foreclosed properties are auctioned off at sheriff’s sales and lenders often buy the properties themselves.
Wall Street Journal, Apr. 26, 2016–Rudegeair, Peter; Demos, Telis
LendingClub Corp. is planning its first sales of bonds backed by its unsecured loans, as the largest U.S. online lender looks for new funding sources in a challenging market.
Wall Street Journal, Apr. 25, 2016–Borak, Donna
Large U.S. banks would have to prove they have enough cash to withstand severe market turmoil lasting as long as a year under a new rule set to be proposed Tuesday.
