Category: Top National News

Mortgage Professional America, Jan. 8, 2016–da Rosa, Justin
The industry may have trained for it but not all training was equal, according to John Gates, president of the Raleigh Mortgage Bankers Association.

HousingWire, Jan. 7, 2016–Swanson, Brena
In light of the Consumer Financial Protection Bureau’s recently finalized rule updating the reporting requirements of the Home Mortgage Disclosure Act regulation, it is now seeking public feedback on the resubmission of mortgage lending data reported under the new regulation.

Wall Street Journal, Jan. 7, 2016–Morath, Eric
Friday’s jobs report from the Labor Department will provide the first major measuring stick of how the economy fared for all of last year-and provide clues about momentum in the labor market heading into 2016.

CNBC, Jan. 6, 2015–Olick, Diana
Total mortgage applications slid 27 percent on a seasonally adjusted basis for the week that ended Friday, compared with two weeks earlier, according to the Mortgage Bankers Association.

Washington Post, Jan. 6, 2016–Harney, Kenneth R.
The biggest players in the mortgage field are under pressure from federal regulators and Congress to adopt more-inclusive and updated credit-scoring models that incorporate non-banking forms of credit, such as rent, utilities and cellphone payments to supplement what’s in consumers’ standard credit files.

Wall Street Journal, Jan. 6, 2015–Sussman, Anna Louise
The U.S. trade deficit narrowed in November as both imports and exports fell to their lowest levels in years, highlighting a slowdown in global commerce amid low commodity prices, weak overseas demand and shifting currencies.

Wall Street Journal, Jan. 6, 2015–Hilsenrath, Jon
Federal Reserve officials expressed glimmers of trepidation as they decided at a mid-December policy meeting to raise short-term U.S. interest rates after keeping them near zero for seven years.

National Mortgage News, Jan. 6, 2016–Berry, Kate
More aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called “pick-a-pay” compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.

HousingWire, Jan. 6, 2016–Lane, Ben
While the exact purchase price still remains unknown, a release from Monroe Capital, a provider of senior and junior debt and equity co-investments to middle-market companies, sheds some light on how much it cost American Mortgage Consultants to acquire JCIII & Associates.

Reuters, Jan. 6, 2016–Mutikani, Lucia
New orders for U.S. factory goods fell in November and inventories declined for a fifth straight month, the latest indication that economic growth braked sharply in the fourth quarter.