Wall Street Journal, Mar. 1, 2016–Morath, Eric
U.S. factory activity slowed for the fifth straight month in February, but there is evidence that global headwinds for the manufacturing sector may be easing.
Category: Top National News
Warehouse Credit Availability Expands in 2015: Reynolds
National Mortgage News, Mar. 1, 2016–Passy, Jacob
Warehouse lenders dramatically expanded the amount of credit they were willing to extend in 2015, accommodating a noted increase in originator demand, according to The Reynolds Group’s annual warehouse lending survey.
American Homes 4 Rent, American Residential Properties Complete Merger
HousingWire, Mar. 1, 2016–Lane, Ben
In a move that creates a giant in the single-family rental space, American Homes 4 Rent and American Residential Properties announced Tuesday that the companies finalized their merger, which was first announced in December.
Fed’s Dudley Sees Risks to U.S. Economic Outlook Tilting to Downside
Reuters, Mar. 1, 2016–Li, Zheng; Sun, Qizi; Ruwitch, John; Sweeney, Pete; Saphir, Ann
New York Federal Reserve President William Dudley said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed’s next interest-rate hike than he and his colleagues had earlier signaled.
Mortgage Giants Headed for Crisis
The Hill, Mar. 2, 2016–Needham, Vicki
Housing industry experts are sounding the alarm over the increasingly dire financial situation of the federal mortgage giants Fannie Mae and Freddie Mac. “I actually believe it’s really incumbent on Congress to take this up as an issue, thoughtfully, while we have time,” said David Stevens, head of the Mortgage Bankers Association.
Inlanta Mortgage Names DelTorto CEO
Mortgage Professional America, Mar. 2, 2016–Kersgaard, Scot
Inlanta Mortgage has announced that President Nicholas DelTorto will assume the role of CEO, while also remaining president. DelTorto was recently elected to the Mortgage Bankers Association Residential Board of Governors.
Lenders Still Struggling with TRID, Survey Finds
National Mortgage News, Mar. 1, 2016–Collins, Brian
Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey.
Colorado Adopts the SAFE Mortgage Loan Originator Test
HousingWire, Mar. 1, 2016–Barraza, Cynthia
Colorado is the newest state to start using the nationwide SAFE mortgage loan originator test, bringing the total number to 51 state agencies.
An Old Fear Returns as New Mortgage Market Players Rise
MarketWatch, Feb. 29, 2016–Riquier, Andrea
Since the crisis, banks have increasingly stepped away from mortgage lending. Companies often called “nonbanks,” or “mortgage bankers,” like Quicken and Nationstar, are stepping into that void. There are more players in the mortgage market now, said Mortgage Bankers Association President and CEO David Stevens, and that distributes risk much more broadly.
Why Everyone Is Suddenly Talking About Trump Mortgage
Time, Feb. 29, 2016–Wolff-Mann, Ethan
The “Trump” name has appeared in quite a few businesses. It’s been on skyscrapers, hotels, a failed airline, a Virginia winery, a golf course built on a landfill, and a sketchy “university,” to name a few. Among the Trump businesses that have gone belly up is Trump Mortgage, LLC which had a brief life starting in 2006, just before the housing crisis.