On Thursday, the Senate Banking Committee held a nomination hearing for Alanna McCargo to be President of Ginnie Mae. Earlier last week, HUD issued an advance notice of proposed rulemaking on its process for transitioning away from the use of LIBOR for FHA-insured ARMs. And late Thursday, congressional leaders reached agreement to temporarily raise the statutory federal debt limit.
Total nonfarm payroll employment rose by 194,000 in September—well below expectations—but the unemployment rate fell by 0.4 percentage point to 4.8 percent, the Bureau of Labor Statistics reported Friday.
JLL, Chicago, said real estate investment trusts have shown strong earnings growth in 2021.
Friday's Employment Situation Summary from the U.S. Bureau of Labor Statistics indicated that job growth remained lackluster in September following similarly disappointing gains in August.
MISMO Issues Call for Participants for New Workgroup Focused on Automating Homeowner Insurance Requests
MISMO®, the real estate finance industry standards organization, seeks participants for an initiative focused on automating homeowner insurance requests.