HousingWire, Mar. 9, 2020–Kathleen HowleyGDP growth will slow to 0.7% in the current quarter, the worst pace since the financial crisis, and grind to a halt in the second quarter, …
Category: Top National News
Regulators Pledge Assistance to Banks Affected by Coronavirus
National Mortgage News, Mar. 9, 2020–Hannah Lang (subscription)https://www.nationalmortgagenews.com/news/regulators-pledge-assistance-to-banks-affected-by-coronavirus
Wider Spreads Can Help Originators Offset Negative MSR Marks
National Mortage News, Mar. 9, 2020–Brad Finkelstein (subscription)Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights …
Bill Introduced by Rep. Luetkemeyer to Remove Sole Director of CFPB
National Mortgage Professional, Mar. 9, 2020Rep. Blaine Luetkemeyer, R-Mo., Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, introduced a bill to replace the position …
Record Low Mortgage Rates Give Millennial Homeowners Much-Needed Breathing Room
Money.com, Mar. 9, 2020–Daniel Bortz Last week mortgage rates hit record-low 3.29%, according to Freddie Mac data. That’s been good news for homeowners, but especially for millennials who’ve strained their …
A $60 Billion Housing Grab by Wall Street
New York Times, March 5, 2020–Francesca MariHundreds of thousands of single-family homes are now in the hands of giant companies — squeezing renters for revenue and putting the American dream …
Fear Isn’t the Only Driver of the Treasury Rally: Banks Need to Hedge Their Mortgages
Wall Street Journal, Mar. 6, 2020–Julia-Ambra Verlaine (subscription)Banks need to buy around $1.2 trillion of 10-year Treasurys to offset risks on mortgages and bank deposits.https://www.wsj.com/articles/fear-isnt-the-only-driver-of-the-treasury-rally-banks-need-to-hedge-their-mortgages-11583470802
Record-Low Mortgage Rates Could Turn a 30-Year Loan into a 20-Year
Fox Business, Mar. 8, 2020–Suzanne O’HalloranQuicken Loans, coming off a record week of business, is seeing more customers refinance existing mortgages in exchange for a shorter duration but not necessarily …
Record Number of Borrowers Can Now Save on a Mortgage Refinance as Rates Drop over Coronavirus Fears
CNBC, Mar. 6, 2020–Diana Olick That drop means that now nearly 13 million borrowers can save money by refinancing their home loans and lowering their current rates by at least …
OCC Proposes Eliminating ‘Outdated’ Licensing Rules
American Banker, Mar. 5, 2020–Brendan Pedersen (subscription)As part of a review, the agency said it had identified requirements dealing with operating subsidiaries, non-controlling investments by banks and other corporate activities …