Mississippi Business, Jan. 14, 2016–Wilmesherr, Ed
Reading between the lines of the Dodd-Frank Act, it was easy to see Congress was not satisfied with the job the bank regulatory agencies had done in the run up to the 2007-2008 banking crisis.
Category: Top National News
JPMorgan’s Dimon Sounds Caution on Economy
Wall Street Journal, Jan. 14, 2016–Glazer, Emily; Rudegeair, Peter
JPMorgan Chase & Co.’s bankers and traders took pay cuts. Bad energy loans are piling up. And Chief Executive James Dimon said major parts of the economy are “obviously” going to get worse.
Home Prices Forecast to Grow, Mortgage Rates Sink Again
National Mortgage Professional, Jan. 14, 2016–Hall, Phil
Tomorrow will be a healthy time for the U.S. housing market, according to a new forecast issued by Fitch Ratings. However, today is not the healthiest of days, at least according to Freddie Mac’s latest reporting on fixed mortgage rates.
Why Reverse Mortgage Lenders Are Upbeat About 2016
National Mortgage News, Jan. 14, 2016–Collins, Brian
The reverse mortgage industry is optimistic after recent reforms to the Home Equity Conversion Mortgage by the FHA and newfound respect from financial planners.
Chase 4Q Mortgage Earnings Down 21% on Lower Revenue
National Mortgage News, Jan. 14, 2016–Finkelstein, Brad
JPMorgan Chase reported a 21% drop in year-over-year earnings for its mortgage business as revenue dropped 10%.
Top Companies Gear up to Manage Advanced eClosings
HousingWire, Jan. 14, 2016–Verkuylen, Al
The author, with ServiceLink, said while lenders are expected to benefit tremendously from eClosings, title and settlement companies are beginning to lead the way.
Manhattan Packing More Workers into Less Office Space
Bloomberg, Jan. 14, 2016–Levitt, David M.
Companies are seeking to pack more workers into smaller spaces, a trend that’s having an impact on office occupancy in Manhattan.
Fed to Hike Rates Three Times in 2016, Economic Outlook Subdued: Poll
Reuters, Jan. 14, 2016–Ramesh, Aaradhana; Cassella, Megan
The Federal Reserve will raise interest rates only three times this year as it faces a more subdued outlook for both the U.S. and world economies, a Reuters poll of economists said.
U.S. Jobless Claims Rise; Import Prices Sharply Weaken
Reuters, Jan. 14, 2016–Mutikani, Lucia
The number of Americans filing for unemployment benefits unexpectedly rose last week, but remained at levels associated with a healthy labor market. Other data on Thursday showed import prices tumbled in December for a sixth straight month, weighed down by lower oil prices and a strong dollar.
Goldman Sachs Agrees to $5 Billion Mortgage Settlement
Fortune, Jan. 14, 2016–Gandel, Stephen
Goldman Sachs on Thursday said it reached an agreement in principal to resolve a long running government investigation into its sales of residential mortgage bonds in the run up to the financial crisis. The total settlement is just over $5 billion, and will include $1.8 billion in consumer mortgage relief.