Housingwire, Oct. 2, 2015–Garrison, Trey
During the second quarter, multifamily mortgage debt outstanding topped $1 trillion for the first time, according to the Mortgage Bankers Association.
Category: Top National News
Anticipating a Mortgage Rate Increase
New York Times, Oct. 2, 2015–Prevost, Lisa
The intense media focus on when the Federal Reserve will finally raise its benchmark interest rate above zero can be nerve-wracking for home buyers. Many might be wondering whether they should rush to close on a deal before a move by the Fed causes mortgage rates to climb.
New Mortgage Rules and How to Make the Most of Them
New York Times, Oct. 2, 2015–Carrins, Ann
Beginning Saturday, applicants for most home mortgages will receive new forms from their lender that are intended to make it easier to review and compare loan offers. Along with the updated forms, new rules aimed at simplifying the borrowing process for consumers will also take effect.
Here’s What Today’s Job Creation Implosion Means for Housing and Mortgage Finance
HousingWire, Oct. 2, 2015–Garrison, Trey
The likelihood of a Federal Reserve interest rate hike in 2015 just got even more unlikely, with September job creation cratering to a weak 142,000, well below analyst expectations.
It’s Been a Terrible Week for the Credit Market
Bloomberg, Oct. 2, 2015–Alloway, Tracy
The past few days have been challenging ones for the corporate bond market where companies sell their debt.
Bernanke, in New Memoir, Recalls Lehman’s ‘Surreal’ Failure
Associated Press, Oct. 4, 2015–Crutsinger, MartinBen Bernanke recalls the September weekend in 2008 when regulators sought desperately but in vain to save the investment bank Lehman Brothers as a “terrible, surreal moment.”
Ken Griffin Goes on $290 Million Real Estate Spree
New York Times, Oct. 4, 2015–Frank, Robert
Billionaire hedge fund manager Kenneth Griffin is known as an aggressive trader who waits for prices to fall before buying. But when it comes to personal real estate, Mr. Griffin appears to be less price-sensitive.
Dudley Says Work Needed on Tools to Avert Financial Crises
Bloomberg, Oct. 3, 2015–Torres, Craig; Condon, Christopher
Federal Reserve Bank of New York President William Dudley said U.S. policy makers are “a long way” from being able to identify developing risks to financial stability and act in time to prevent future crises.
TRID Implementation Costs Add Up
Mortgage Professional America, Oct. 5, 2015–Horne, Donald
“It is without question the single largest implementation challenge that the broad industry has faced since Dodd-Frank,” said David Stevens, president of the Mortgage Bankers Association.
Dodd-Frank’s Effect on Small Banks is Muted
Wall Street Journal, Oct. 4, 2015–Davidson, Kate
It’s a favorite lament of community banks: The 2010 Dodd-Frank law is squeezing small financial firms and crimping access to credit for Main Street, all in the name of protecting the country from another financial crisis. A look at the data shows the reality is more complicated.