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Mortgage Rates Hold Near 2018 Highs in a ‘Nirvana’ Moment for Housing, Freddie Mac Says
MarketWatch, May 10, 2018--Andrea RiquierFor now, the housing market is in a sweet spot and mortgage rates are likely to continue moving in a tight range, Freddie Mac Chief Economist said.
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Competition Heats Up for Homebuyers Needing a Mortgage
CNBC, May 10, 2018CNBC's Diana Olick discusses why homebuyers are turning to less traditional financing in today's housing market. (MBA mention)
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Mutual of Omaha to Buy National Mortgage Lender
American Banker, May 10, 2018--Jackie Stewart (subscription)Mutual of Omaha Bank in Nebraska has agreed to buy Synergy One Lending, a national mortgage lender in San Diego.
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Treasury Will Sell $101 Billion in Debt
Wall Street Journal, May 10, 2018The U.S. will auction $101 billion in securities next week, comprising $42 billion in new debt and $59 billion in previously sold debt.
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Downsizing and Servicing Offset Lower Volume at Impac Mortgage
National Mortgage News, May 10, 2018--Bonnie Sinnock (subscription)Impac Mortgage Holdings Inc. generated almost $4 million in net income during the first quarter as it continued to downsize to adjust for origination declines and benefited from servicing gains.
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CFPB to Dramatically Reorganize Operational Structure
HousingWire, May 10, 2018--Kelsey RamirezConsumer Financial Protection Bureau Acting Director Mick Mulvaney announced in an email to staff that he plans to reorganize the bureau's operational structure.
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Financial Industry Petitions FCC to Make Robocall Lawsuits Harder to Win
National Mortgage News, May 10, 2018--Brad Finkelstein (free story)If a financial industry petition to the Federal Communications Commission on the use of autodialers is successful, it could make Telephone Consumer Protection Act cases more difficult to prove for consumer attorneys. But a favorable ruling likely won't halt the proliferation of these suits.
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HUD Wants Feedback on Disparate Impact
Mortgage Daily, May 10, 2018On Thursday in HUD No. 18-035, HUD asked for public comment on whether its 2013 regulation is consistent with the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project Inc.
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Banks are Walking Away from Low-Income Homebuyers
CNN Monty, May 11, 2018--Lydia DePillisNewly released federal data on mortgage lending from the Consumer Financial Protection Bureau shows people with low- and moderate-incomes made up only 26.3% of borrowers in 2017, down from 36.6% in 2009. "Profit margins on lending have come down quite a bit," says Mike Fratantoni, chief economist at the Mortgage Bankers Association, which represents both banks and non-banks. "So a number of banks have de-emphasized their mortgage lending, because there are other business lines they can focus on."
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U.S. Consumer Prices Rise Slightly; Labor Market Tightening
Reuters, May 10, 2018--Lucia MutikaniU.S. consumer prices rose less than expected in April, suggesting that inflation was increasing at a moderate pace, which could allow the Federal Reserve to continue gradually raising interest rates.
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MBA Mortgage Action Alliance Action Week May 14-18
MAA Action Week is an annual week-long event dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry.
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MBA Mortgage Action Alliance Action Week May 14-18
MAA Action Week is an annual week-long event dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry.
Full Story
MBA Mortgage Action Alliance Action Week May 14-18
MAA Action Week is an annual week-long event dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry.
Full Story