Reverse Mortgage Daily, Mar. 20, 2016–Oliva, Jason
Independent mortgage banks are starting to feel the sting from the Consumer Financial Protection Bureau’s new mortgage rules enacted last fall, particularly on their bottom lines, the Mortgage Bankers Association reported.
Wall Street Journal, Mar. 20, 2016–Powell, Robert
The reverse mortgage has won some new respect.
Washington Post, Mar. 17, 2016–Orton, Kathy
Mortgage rates wandered upward for third week in a row prior to the Federal Reserve’s announcement Wednesday that it was leaving its benchmark interest rate unchanged and lowering its economic forecasts.
Wall Street Journal, Mar. 17, 2016–Morath, Eric Americans applying for new unemployment benefits rose slightly last week, but remains at a level consistent with an improving jobs market.
MarketWatch, Mar. 17, 2016–Goldstein, Steve
The Philadelphia Fed manufacturing index rose to 12.4 from a negative 2.8 in February, the regional district of the central bank said Thursday. That was much better than the negative 0.5 expected.
CNBC, Mar. 17, 2016–Wang, Christine
The Bureau of Labor Statistics reported 5.5 million job openings in January, up from 5.28 million job openings in December, according to the Job Openings and Labor Turnover Summary report.
Reuters, Mar. 17, 2016–Lash, Herbert
The market for luxury homes in the Hamptons, the summer playground for Wall Street’s wealthiest, is losing some of its luster as financial markets limp along for a second year.
HousingWire, Mar. 17, 2016–Swanson, Brena
The net gain on each loan originated by independent mortgage banks and mortgage bank subsidiaries plummeted 60 percent in fourth-quarter 2015 due to the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October, the Mortgage Bankers Association reported.
Construction Dive, Mar. 17, 2016–Slowey, Kim
A report by the Hispanic Wealth Project and the National Association of Hispanic Real Estate Professionals found the 2015 U.S. Hispanic homeownership rate saw its biggest full-year increase in more than 10 years–44.5 percent to 46.7 percent. “The Latino community is massive, it’s ready to own, and it’s now,” said Mortgage Bankers Association President and CEO David Stevens. “The significance of Hispanics to housing and the economy will only grow, creating opportunity for all who focus on this vibrant, dynamic and impactful part of the U.S. economy.”
Bankrate, Mar. 17, 2016–Ponder, Crissanda
Lenders who have previously shied away from making FHA-insured loans may now give them a second look. Mortgage Bankers Association president and CEO David Stevens acknowledged the FHA’s efforts to clarify certification requirements, but advised lenders to exercise caution.
