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, …
Category: Top National News
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 …
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