National Mortgage News, Apr. 16, 2021–Brad Finkelstein (subscription)Blend Labs filed a confidential draft registration statement with the Securities and Exchange Commission, the first step in taking the company public.https://www.nationalmortgagenews.com/news/blend-files-confidential-statement-in-preparation-to-go-public
Category: Top National News
Mall Department Stores Were Struggling. The Pandemic Has Pushed Them to the Edge of Extinction.
Washington Post, April 16, 2021–Abha BhattaraiDepartment stores, once a middle-class mainstay of convenience and indulgence, had been spiraling downward long before the pandemic turbocharged online shopping and helped tip a …
Modernized NMLS Licensing System on the Horizon: Stakeholders Invited to Comment
ACA News, April 16,2021Accounts receivable management industry users of the Nationwide Multistate Licensing System (NMLS) are invited to submit comments on proposed requirements that will drive a standardized approach to …
Speed Dating, Real Estate Style
UExpress, Apr. 16, 2021–Lew SichelmanEveryone, it has been said, enjoys their 15 minutes of fame. But these days, that’s just about all the time homebuyers are allowed to give a …
‘Phony Money Paying for Real Money’–Cramer Sells some Bitcoin and Pays Off a Home Mortgage
CNBC, Apr. 15, 2021–Kevin StankiewiczCNBC’s Jim Cramer said Thursday he recently paid off a mortgage using profits from his investment in bitcoin.https://www.cnbc.com/2021/04/15/jim-cramer-says-he-sold-some-of-his-bitcoin-and-paid-off-a-mortgage.html
Investors Can’t Afford the Zillow Dream
Wall Street Journal, Apr. 15, 2021–Laura Forman (subscription)Online real-estate companies have thrived, but less so their stocks recently.https://www.wsj.com/articles/investors-cant-afford-the-zillow-dream-11618484580
Fannie Adjustables Dive to 1.75% for First 5-10 Years
Orange County Register, Apr. 15, 2021–Jeff LazersonFannie Mae is offering a call to ARMS to keep payments as affordable as possible. Rates for adjustable-rate mortgages, or ARMS, might be running …
U.S. Retail Sales Post Largest Gains in 10 Months…
Reuters, Apr. 15, 2021–Lucia MutikaniU.S. retail sales rose by the most in 10 months in March as Americans received additional pandemic relief checks from the government and increased COVID-19 vaccinations …
Bank of America, Citigroup See Profits Increase in Q1
Mortgage Professional America, Apr. 15, 2021–Duffie OsentalBanking giants Citigroup and Bank of America have started the year strong, with both companies reporting profit increases in the first quarter of 2021.https://www.mpamag.com/news/bank-of-america-citigroup-see-profits-increase-in-q1-252428.aspx
How Flagstar Bank Shaved $48 Million from Crisis-Era DOJ Settlement
National Mortgage News, Apr. 15, 2021–Kevin Wack (subscription)The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with …