MarketWatch, Sept. 23, 2020–Tomi KilgoreShares of Gores Holdings IV Inc. shot up 16% in premarket trading Wednesday, after the special purpose acquisition company, also known as a blank-check company, announced …
Category: Top National News
Refinancing Your Mortgage Is About to Get More Expensive
Wall Street Journal, Sept. 23, 2020–Katy McLaughlin (subscription)The Fannie Mae/Freddie Mac adverse market refinance fee will account for roughly a 1/8th of a percentage point rate increase on 30-year-fixed refinances, …
Mortgage Demand from Homebuyers Now Up 25% from a Year Ago
CNBC, Sept. 23, 2020–Diana OlickAfter a brief lull to start the month, mortgage demand surged ahead yet again — even with the highest interest rates in several weeks. Total mortgage …
MBA Raises 2020 Forecast to Over $3T in Total Volume
National Mortgage News, Sept. 22, 2020–Brad Finkelstein (subscription)The Mortgage Bankers Association has raised its 2020 origination forecast to more than $3 trillion, but it is more conservative in its outlook …
House Overwhelmingly Passes Bipartisan Spending Deal to Avert Government Shutdown
Washington Post, Sept. 22, 2020–Erica WernerThe 359-to-57 vote sends the legislation to the Senate, which could take it up later this week and send it to President Trump. White House …
4 FHA Priorities from New Commissioner Dana Wade
National Mortgage News, Sept. 22, 2020–Bonnie Sinnock (subscription)Federal Housing Administration Commissioner Dana Wade has three main priorities, which she shared with women working in the mortgage industry Tuesday: ensuring the …
Banks Criticized for Requiring Balloon Payments on Loans in Forbearance
National Mortgage News, Sept. 22, 2020–Kevin WackBig banks that have been offering mortgage relief to homeowners during the pandemic are facing fresh criticism over the rules they are enforcing when …
Embattled Fed Nominee Celebrates Free Markets, but Not in Her Backyard
New York Times, Sept. 22, 2020–Jeanna Smialek, Emily CochraneJudy Shelton, a longtime Federal Reserve critic and gold standard fan, could soon clinch a job on the Fed board. Her views …
United Wholesale Mortgage to Go Public Via Merger With Gores SPAC
Wall Street Journal, Sept. 22, 2020–Maureen Farrell (subscription)The biggest wholesale mortgage originator in the U.S. is merging with a special-purpose acquisition company in a deal that will take the lender …
Brookfield Properties to Cut 20% of Employees in Retail Unit
Bloomberg, Sept. 22, 2020–Natalie WongBrookfield Property Partners LP, a large owner of malls in the U.S., is cutting its workforce as the pandemic batters the retail industry. The job cuts …