Bloomberg. May 11, 2022–Steven T. DennisThe Senate confirmed economist Philip Jefferson as a Federal Reserve governor on Wednesday evening, adding a third nominee of President Joe Biden to the central …
Category: Top National News
Caliber Sues CrossCountry after 80 Employees Left for Rival
HousingWire, May 11, 2022–Flavia Furlan NunesTexas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade …
Julia Gordon Confirmed as New FHA Commissioner
HousingWire, May 11, 2022–Maria VolkovaGordon was narrowly confirmed to be the FHA commissioner. Vice President Kamala Harris cast the deciding vote, breaking a 50-50 tie. Her confirmation brings an end …
Chopra’s Expansive Vision for CFPB Authority is Facing Industry Pushback
American Banker, May 11, 2022–Kate Berry (subscription)A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks …
The Challenges in Underwriting for Today’s Self-Employed Borrowers
National Mortgage News, May 11, 2022–Spencer Lee (subscription)As lenders seek new clients, many are now looking for opportunities among self-employed and small-business owners. But the bar for self-employed borrowers to …
Duke Realty Rejects Nearly $24 Billion Buyout Offer From Prologis
Wall Street Journal, May 11, 2022–Chris Wack (subscription)Duke Realty Corp. on Wednesday rejected the nearly $24 billion buyout offer from the warehousing giant Prologis Inc., calling the unsolicited offer insufficient.https://www.wsj.com/articles/duke-realty-rejects-nearly-24-billion-buyout-offer-from-prologis-11652282895?mod=hp_lead_pos3
Is loanDepot in Play? No Strategic Review Underway
Inside Mortgage Finance, May 11, 2022–Paul Muolo, Brandon IveyA few weeks back, rumors were circulating around the mortgage industry that loanDepot might be up for grabs, but after a conference …
Adjustable-Rate Mortgage Demand Surges to 14-Year High…
CNBC, May 11, 2022–Diana Olick Mortgage applications to purchase a home rose 5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand …
The Mortgage Refi Boom Is Running Out
Wall Street Journal, May 10, 2022–Orla McCaffrey (subscription)Rising interest rates dealt a critical blow to mortgage originations in the first quarter. (MBA mention)https://www.wsj.com/articles/the-mortgage-refi-boom-is-running-out-11652206979?mod=flipboard
Fed Confronts Why It May Have Acted Too Slowly on Inflation
New York Times, May 10, 2022–Jenna SmialekCentral bankers have been asking whether they should have reacted faster to rising inflation last year — and are learning from the recent past.https://www.nytimes.com/2022/05/10/business/economy/federal-reserve-inflation.html?campaign_id=2&emc=edit_th_20220511&instance_id=60998&nl=todaysheadlines®i_id=42063674&segment_id=91876&user_id=e670283fb4fff3d4391d6f88569ad498