The Lede
Top National News
Online Lenders, Already in Turmoil, Face U.S. Call For New Rules
Bloomberg, May 10, 2016--Dexheimer, Elizabeth
Marketplace lenders need to be more transparent about their business practices and should be subject to additional oversight from federal regulators, according to a U.S. Treasury study released just as the industry grapples with market turmoil and a scandal facing one of the biggest lenders.
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CRE Executives’ Outlook Is Optimistic, With a Catch
National Mortgage News, May 10, 2016--Passy, Jacob
Commercial real estate executives remain upbeat about their prospects for 2016, though they do see some potential hurdles on the horizon, according to CIT Group's 2016 Commercial Real Estate Outlook survey.
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Foreclosures, Seriously Delinquent Mortgages Fall to Lowest Level since 2007
HousingWire, May 10, 2016--Lane, Ben
Homes in some stage of foreclosure and the number of seriously delinquent mortgages are now at levels not seen since late 2007, according to a new report from CoreLogic.
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Here’s the Bright Spot in Stonegate Mortgage’s Tough 1Q
HousingWire, May 10, 2016--Swanson, Brena
Stonegate Mortgage didn't get away from the financial impact of the first quarter's historically low interest rates, which already dented the performance of most other lenders due to negative adjustments to the "fair value" of each company's mortgage servicing rights portfolio.
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U.S. Job Openings Hit Eight-Month High, Skills Mismatch Emerging
Reuters, May 10, 2016--Mutikani, Lucia
U.S. job openings increased in March to the highest level in eight months and layoffs continued to decline, indicating the labor market remains fairly robust despite April's slowdown in employment gains.
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Small-Business Sentiment Rises to Halt Three-Month Slide, NFIB Says
MarketWatch, May 10, 2016--Riquier, Andrea
The National Federation of Independent Business's optimism index rose 1 point to 93.6, slightly better than the 93.1 forecast by economists.
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What Spring Home-Buying Season? Appraisal Volume Drops
HousingWire, May 10, 2016--Swanson, Brena
Appraisal volume continues to struggle to lift-off this spring. With more than half the season already over, volume fell -0.4% for the week of May 1, according to the latest appraisal volume numbers from a la mode.
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Mortgage Fraud? Not On Your Life, Quicken CEO Says
DS News, May 10, 2016--West, Xhevrije
Quicken Loans, the largest Federal Housing Administration lender in the country, is standing its ground in a government lawsuit for allegedly knowingly submitting claims for hundreds of improperly underwritten FHA-insured loans.
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Luxury Condo Boom Is Ending in Manhattan
Wall Street Journal, May 10, 2016--Brown, Eliot; Barbanel, Josh
The 1,004-foot Manhattan condominium tower known as One57 was the envy of the real-estate market as it was being constructed in recent years, garnering interest from so many wealthy buyers that it sparked a boom by developers betting demand for luxury apartments would keep climbing to the skies. It didn't.
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First Guaranty Buys Consumer-Direct Lender Goodmortgage.com
National Mortgage News, May 10, 2016--Passy, Jacob
First Guaranty Mortgage Corp. in Tysons Corner, Va., has purchased consumer-direct lender goodmortgage.com.
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