Wall Street Journal, Feb. 10, 2016–Derby, Michael; Zumbrun, Josh
Federal Reserve Chairwoman Janet Yellen waded into fraught territory before Congress on Wednesday, suggesting the central bank could turn to negative interest rates in an economic downturn, despite legal and other uncertainties.
WTOP (Washington, D.C.), Feb. 10, 2016–Clabaugh, Jeff
Mortgage rates show no signs of heading higher. Indeed, with 10-year Treasury yields falling, long-term mortgage rates have been moving lower in recent weeks.
National Mortgage Professional, Feb. 10, 2016–Hall, Phil
The calendar might tell us that today is the somber Ash Wednesday observance, but there was still a bit of Mardi Gras-level felicity to be found in today’s housing market data.
BISNOW, Feb. 9, 2016–Hoffmann, Michelle
Story features Rodrigo Lopez, CMB, executive chairman of NorthMarq Capital and Mortgage Bankers Association vice chairman.
New York Times, Feb. 10, 2016–Appelbaum, Binyamin
“Financial conditions in the United States have recently become less supportive of growth,” Federal Reserve Chair Janet Yellen told the House Financial Services Committee. “These developments, if they prove persistent, could weigh on the outlook for economic activity.”
HousingWire, Feb. 10, 2016–Barraza, Cynthia
Due to low delinquencies and foreclosures, Wells Fargo said it will let go of 581 employees in its mortgage operations.
National Mortgage News, Feb. 10, 2016–Finkelstein, Brad
Arch Capital Group’s mortgage insurance segment, which covers both primary and reinsurance operations, had underwriting income of $64.8 million in 2015. This is an increase of more than 140% from the $26.4 million of underwriting income recorded in 2014.
HousingWire, Feb. 10, 2016–Lane, Ben
MTGLQ Investors LP, a subsidiary of Goldman Sachs, will purchase four pools of loans from Fannie Mae totaling $1.32 billion in unpaid principal balance across 6,540 loans.
Reuters, Feb. 10, 2016–Cassella, Megan
The U.S. government posted a $55 billion budget surplus in January, up from an $18 billion deficit in the same month a year ago, the Treasury Department said on Wednesday.
National Mortgage News, Feb. 10, 2016–Collins, Brian
The flood of new apartments will put upward pressure on vacancy rates in the next two years, but the multifamily market should stay strong, according to a new Freddie Mac forecast. Lenders originated a record $256 billion in multifamily loans in 2015, according to the Mortgage Bankers Association.
