Bloomberg, May 2, 2023–Sridhar NatarajanMorgan Stanley is preparing a fresh round of job cuts amid a renewed focus on expenses as recession fears delay a rebound in dealmaking.https://www.bloomberg.com/news/articles/2023-05-01/morgan-stanley-plans-3-000-more-job-cuts-amid-dealmaking-slump?srnd=premium&leadSource=uverify%20wall
Category: Top National News
Tight Supply Fuels Demand for Newly Built Homes
Wall Street Journal, May 2, 2023–Nicole Friedman (subscription)Home builders are enjoying stronger-than-expected business this spring, capitalizing on the recent fall in mortgage rates and the shortage of existing homes for …
27 States Ask Biden and FHFA to Scrap Mortgage Fee Increases
WRE News.com, May 1, 2023–Phil HallA coalition of fiscal officers from 27 state governments called President Joe Biden and Federal Housing Finance Agency Director Sandra L. Thompson to jettison the …
U.S. Manufacturing Contracts Again in April, But Pace Slows
Reuters, May 1, 2023–Lucia MutikaniU.S. manufacturing pulled off a three-year low in April as new orders improved slightly and employment rebounded, but activity remained depressed amid higher borrowing costs and …
First Republic Leaves Bank World Still Seeking All-Clear Signal
Bloomberg, May 1, 2023–Paige SmithThe turmoil that ripped through the banking industry for weeks seemed quelled, at least temporarily, by the pre-dawn announcement that JPMorgan Chase & Co., the biggest …
Judge Approves Liquidation Plan For RMIT
National Mortgage Professional, May 1, 2023–David KrechevskyA Delaware district federal bankruptcy judge approved a multibillion-dollar business wind-down for Reverse Mortgage Investment Trust, one day after a delay allowed the company …
Brookfield’s Los Angeles Office Company Is Roiled by Defaults
Wall Street Journal, May 1, 2023–Konrad Putzier (subscription)The company, known as Brookfield DTLA Fund Office Trust Investor Inc., owns six Los Angeles office buildings and a retail center. Five of …
How Low Did 1Q Get? Just $290 Billion in Home Mortgages Funded
Inside Mortgage Finance, May 1, 2023–John BancroftEarly 2023 originations were down 17.1% from the previous three-month period, hitting the lowest quarterly figure since the start of 2014. Compared to the …
First Republic Bank Is Seized, Sold to JPMorgan in Second-Largest U.S. Bank Failure
Wall Street Journal, May 1, 2023–Rachel Louise Ensign, Ben Eisen (subscription)Regulators seized First Republic Bank and struck a deal to sell the bulk of its operations to JPMorgan Chase & …
Bills Seek to Roll Back Recent Change to Mortgage Pricing
National Mortgage News, Apr. 28, 2023–Bonnie Sinnock (subscription)Rep. Andy Biggs, R.-Ariz. introduced H.R. 2928 and Rep. Stephanie Bice, R.-Okla, sponsored H.R. 2876, both of which seek to roll back the …