The Lede
Top National News
Optimism Among Home Builders Slides for 4th Consecutive Month; Rising Mortgage Rates Blamed
Associated Press, Apr. 16, 2018Homebuilder confidence slid for the fourth consecutive month with steadily rising mortgage rates and sky-high home prices putting ownership out of reach for more and more Americans.
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BofA’s Once Giant Mortgage Business Is Now Listed Under ‘Other Income’
Bloomberg, Apr. 16, 2018--Laura KellerOne measure of how much things have changed in the last decade at Bank of America Corp.: The firm has stopped reporting fees from its mortgage business.
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Mortgage Bankers Press Public Agencies on Digital Mortgage Hurdles
National Mortgage News, Apr. 16, 2018--Bonnie Sinnock (subscription)The Mortgage Bankers Association is pushing Ginnie Mae to join other agencies in accepting electronic signatures, and for the Federal Home Loan Banks to allow funds to be advanced against electronic notes, Brian Stoffers, vice chairman of MBA, said at the MBA technology conference in Detroit.
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Stalled Mobility: Another Problem For The Housing Market
Forbes, Apr. 16, 2018--Adam SarhanThe real estate market is a very important part of the economy and after a nice recovery there are a few cracks forming on the periphery.
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Will Fintech Innovation Benefit Borrowers of All Incomes?
Urban Institute, Apr. 16, 2018--Karan KaulFintech products serve different consumers in different ways. As policymakers seek to understand and nurture this industry, it is important to understand what specific benefits new fintech products bring and which consumers will most benefit from their adoption.
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Trump to Nominate Richard Clarida, Michelle Bowman to Fed Board
Wall Street Journal, Apr. 16, 2018--Nick Timiraos (subscription)President Donald Trump revealed his latest picks to fill empty seats on the Federal Reserve Board, saying Monday he would nominate Columbia University economist Richard Clarida as vice chairman and Kansas banking regulator Michelle Bowman as a governor.
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Home Prices Up for 24th Consecutive Month
National Mortgage Professional, Apr. 16, 2018--Phil HallHome prices climbed for the 24th consecutive month in March while home sales fell for a fourth consecutive month, according to the latest RE/MAX National Housing Report.
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The Mortgage Industry Has a Data Problem. Is Blockchain the Answer?
National Mortgage News, Apr. 16, 2018--Elina Tarkazikis (subscription)The mortgage industry has a data problem. Diverse systems and a deluge of new data sources make management and accuracy difficult throughout the mortgage space.
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Fannie Mae Predicts Strong Economic Growth Despite Mounting Risks
HousingWire, Apr. 16, 2018--Kelsey RamirezEven as downside risks mount, Fannie Mae continues to predict strong economic growth for 2018, according to its Economic and Strategic Research Group's April 2018 Economic and Housing Outlook report.
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New York’s Commercial Property Market Comes Storming Back
Wall Street Journal, Apr. 16, 2018--Keiko Morris (subscription)A rise in sales of office towers, apartment buildings and warehouses after a two-year dive signals confidence in New York's real estate market. Manhattan transactions more than doubled to $8.9 billion.
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Earnings Jump at BofA as Originations Sink
Mortgage Daily, Apr. 16, 2018Quarterly earnings climbed at Bank of America Corp., while home-lending activity tumbled. The company stopped reporting mortgage earnings and servicing.
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Q2 Mortgage Refinance Outlook Increases
Mortgage Daily, Apr. 16, 2018The second-quarter forecast for refinance originations has been raised--though the gain came at the expense of expected second-half production.
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