MReport, Mar. 12, 2020–Mike AlbaneseFannie Mae’s Q1 2020 Mortgage Lender Sentiment Survey found that 51% of lenders believe profit margins will increase compared to the prior quarter, while 44% said …
Category: Top National News
Wall Street’s Bond Rally Isn’t Lowering Mortgage Rates on Main Street
Barrons, Mar. 10, 2020–Randall ForsythThe epic bond rally on Wall Street isn’t trickling down to Main Street in the form of significantly lower mortgage interest rates. That supposed benefit to …
Mortgage Industry Braces for Impact as Coronavirus Fears Grow
National Mortgage Professional, Mar. 10, 2020–Eric C. PeckAs fear and panic rises daily due to more cases reported of the Coronavirus (COVID-19) outbreak, the Federal Reserve, Office of the Comptroller …
CFPB Chief Takes Heat from Senate Dems for Regulators’ Response to Virus
American Banker, Mar. 10, 2020–Kate Berry (subscription)Consumer Financial Protection Bureau Director Kathy Kraninger came under fire Tuesday from Senate Democrats who questioned what steps the bureau — and other regulators …
Home Buying Hurdles for Persons with Disabilities
User1st, March 2020–Raegan BartloDigital accessibility ensures you reach the broadest, most diverse set of customers, provides those customers with the services they need, protects your organization’s reputation, improves users’ experience, …
Fed Boosts Money It’s Providing to Banks in Overnight Repo Lending to $175 Billion
CNBC, Mar. 11, 2020–Jeff CoxThe Federal Reserve is again increasing the amount of money it’s providing to banks for overnight borrowing, raising the top level now to $175 billion.https://www.cnbc.com/2020/03/11/fed-boosts-money-its-providing-to-banks-in-overnight-repo-lending-to-175-billion.html
Plunging Mortgage Rates Might Not End U.S. Housing Doldrums
Wall Street Journal, Mar. 11, 2020–Gwynn Guilford (subscription)With the average rate on a 30-year mortgage falling to 3.29% last week, financing a home purchase has never been cheaper. That could …
Coronavirus May Stall U.S. Economy, Goldman Sachs Says
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, …
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 …