The Lede
Top National News
U.S. New Home Sales Hit Eight-Year High, Point to Firming Economy
Reuters, May 24, 2016--Mutikani, Lucia
New U.S. single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects.
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New Mortgage Lending Rules Bring Mixed Results
Chicago Tribune, May 24, 2016--Harney, Kenneth R.
Are the federal government's revised procedures governing mortgage lending and closings doing what they promised: improving consumers' ability to understand the fees they're being charged by lenders, title insurance companies and others at settlement? Preliminary results are rolling in and they're mixed.
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Auto, Mortgage Delinquencies Climb in Energy Regions
Wall Street Journal, May 24, 2016--Zumbrun, Josh
Delinquencies on auto loans have spiked in the U.S. counties that had the highest employment in the oil-and-gas industry, according to the Federal Reserve Bank of New York's quarterly report on household debt and credit. Mortgage delinquencies have also climbed, though not as dramatically.
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How Much are Young Americans Paying a Month on Student Debt? Less than You Think
Wall Street Journal, May 24, 2016--Mitchell, Josh
Many Americans are struggling under huge monthly student-debt bills. But they are a sizeable minority, not the norm. That's the conclusion of research from the Federal Reserve Bank of Cleveland.
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Paradise, Hawaiian Style in Oahu Development
Wall Street Journal, May 24, 2016--Kirkham, Chris
Between Waikiki and downtown Honolulu, one of the last available parcels for coastal redevelopment in urban Oahu is undergoing a transformation.
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Low Housing Inventory Forcing Rise in Prices
National Mortgage Professional, May 24, 2016
Home values are appreciating faster than experts expected, rising almost five percent over the past year, according to the April Zillow Real Estate Market Reports, which found that there are 3.4 percent fewer homes for sale in the U.S. than there were 12 months ago.
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A Mortgage for Millennials with Big Student Debts
National Mortgage News, May 24, 2016--Sichelman, Lew
The extent to which student debt is keeping Millennials from buying homes is debatable. But for high-earning young professionals who are saddled with such loans, a Florida investment advisor says he has devised a path to homeownership.
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Federal Reserve: Mortgage Debt Rises to 4-Year High
HousingWire, May 24, 2016--Lane, Ben
The amount of money that Americans owe to mortgage lenders rose to the highest level in more than four years during the first quarter, according to a new report from the Federal Reserve Bank of New York.
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Urban Living Becomes a Luxury Good
Bloomberg, May 24, 2016--Fox, Justin
The study found that Americans in the top income deciles were much more likely to live in urban neighborhoods in 2014 than in 2000, while those in the bottom income deciles were much less likely to. The shift toward urban living was also most pronounced among whites, the highly educated and the 34 to 49 age cohort.
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Why the Law Failed to Punish Wrongdoers in the Financial Crisis
Bloomberg, May 24, 2016--Feldman, Noah
Historians of the future will want to know why almost no one went to jail in connection with the collapse of mortgage-backed securities that triggered the 2007-8 financial crisis.
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Who’s Afraid of TRID Risk? It’s Not Who You Think
National Mortgage News, May 24, 2016--Bisby, Allison
Liquidity has dried up since the Consumer Financial Protection Bureau's disclosure rule took effect in October. With the exception of a few deals backed by loans issued before the financial crisis, private-label securitization has ground to a halt.
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CFPB: Mortgage Complaints Down to Third Place
HousingWire, May 24, 2016--Ramirez, Kelsey
In March, for the first time since the start of the Consumer Financial Protection Bureau in 2011, mortgage complaints were not the number one complaint.
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Will Fannie and Freddie Need Another Bailout?
Wall Street Journal, May 24, 2016--Light, Joe
Eight years after the financial crisis, mortgage-finance companies Fannie Mae and Freddie Mac are headed down the road to another bailout, but not for the usual reason.
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Chinese Investors Pour Money Into U.S. Property
Wall Street Journal, May 25, 2016--Grant, Peter
Commercial property sales have slowed in the U.S. this year-but Chinese investors are continuing to plow money into the market.
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