American Banker, May 11, 2023–Ebrima Santos Sanneh (subscription)The Federal Deposit Insurance Corp.’s board voted to issue a proposed rule on Thursday that would levy a 0.125% special assessment fee on …
Category: Top National News
Fed Official Signals Support for Further Rate Increases
Wall Street Journal, May 12, 2023–Nick Timiraos (subscription)Michelle Bowman says there hasn’t been sufficient evidence of a labor market or inflation slowdown.https://www.wsj.com/articles/fed-official-signals-support-for-further-rate-increases-912338cf?mod=hp_lead_pos5
5 AI Mortgage Tools that Have Launched Post-ChatGPT
National Mortgage News, May 12, 2023–Spencer Lee (Subscription)In the last two months, Redfin and Zillow, the housing market’s leading online real estate brokers both introduced plugins to OpenAI’s ChatGPT, and …
California’s FAIR Plan May Save Condo Associations…
Orange County Register, May 11, 2023–Jeff LazersonThe California FAIR Plan Association has agreed to more than double its existing commercial coverage limits to $20 million for businesses and homeowner associations …
U.S. Weekly Job Claims Hit 1-1/2-Year High; Inflation Subsiding
Reuters, May 11, 2023–Lucia MutikaniThe number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand …
Jumbo Correspondent Sales Down in 2022
Inside Mortgage Finance, May 11, 2023–James DohnertCorrespondent sales of jumbo mortgages dropped in 2022, according to a new ranking and analysis by Inside Nonconforming Markets based on data collected under …
Mr. Cooper Group Acquires Home Point Capital for $324 Million
WRE News.com, May 11, 2023–Phil HallDallas-based Mr. Cooper Group Inc. has acquired all outstanding shares of wholesale lender Home Point Capital Inc. for $324 million in cash.https://wrenews.com/mr-cooper-group-acquires-home-point-capital-for-324-million/
Mortgage Rates Tick Down for the Second Week in a Row
CNN, May 11, 2023–Anna BahneyThe 30-year fixed-rate mortgage averaged 6.35% in the week ending May 11, down from 6.39% the week before, according to data from Freddie Mac released Thursday. …
Why the US Housing Market Is Still Broken After Fed Hikes, in Charts
Bloomberg, May 11, 2023–Joe Weisenthal, Tracy AllowayWeren’t the rate hikes supposed to cool this boom down?https://www.bloomberg.com/news/articles/2023-05-11/us-housing-market-is-still-broken-even-after-fed-hikes-in-charts?srnd=premium#xj4y7vzkg
26 Empire State Buildings Could Fit Into New York’s Empty Office Space. That’s a Sign
New York Times, May 11, 2023–Edward L. Glaeser, Carlo RattiIn downtowns from Chicago to Los Angeles, the physical layout of the 20th-century city is clashing with the new economy. Since …