Category: Top National News

Wall Street Journal, Aug. 27, 2019–Yuka Hayashi (subscription)The Consumer Financial Protection Bureau is looking for workers again, following departures during a hiring freeze and budget cuts by Trump administration officials that took over the agency in late 2017.

National Mortgage Professional, Aug. 27, 2019–Phil HallA new survey conducted by MagnifyMoney has found more than half of homeowners are making an early withdrawal into their retirement savings funds to pay down housing and personal debt.

HousingWire, Aug. 27, 2019–Kathleen HowleyThe share of first-time homebuyers using conventional mortgages that require private mortgage insurance, or PMI, to compensate for low down payments increased in the second quarter while the use of FHA loans fell, said Genworth.

Wall Street Journal, Aug. 27, 2019–Andrew Ackerman (subscription)The Trump administration is close to releasing a blueprint for overhauling Fannie Mae and Freddie Mac, two companies that back half of the nation’s $10 trillion mortgage market. The firms have been in government conservatorship since the 2008 financial crisis, and administration officials say it is time to return them to the private sector.

American Banker, Aug. 26, 2019–Neil Haggerty, Joe Adler (subscription)When lawmakers return from their late-summer break on Sept. 9, there are a host of unresolved financial services issues facing them, including efforts to let bankers serve the marijuana industry to reforms of anti-money-laundering requirements.

HousingWire, Aug. 26, 2019–Kathleen HowleyThe average credit score of borrowers who refinanced mortgages in July with loans backed by Fannie Mae and Freddie Mac rose to a six-year high, according to an Ellie Mae report. The score was 750, up from 742 in June.

CNBC, Aug. 26, 2019–Sarah O’BrienIf you’ve been considering a mortgage with an adjustable rate, your reasons for going that route might be disappearing.

American Banker, Aug. 25, 2019–Hannah Lang (subscription)Banks notched a clear victory this past week when regulators approved a significant rollback of the Volcker Rule. But the agencies aren’t finished revamping the Dodd-Frank Act restrictions on bank trading.

National Mortage News, Aug. 23, 2019–Elina Tarkazikis (subscription)Millennial mortgage debt is on pace to reach levels higher than any other generation, according to Experian.

CNBC, Aug. 22, 2019–Diana OlickIt’s very odd to suddenly see ARMs showing higher interest rates than the traditional 30-year fixed, which is what Bankrate.com is currently showing for average purchase mortgage rates. Refinance rates are still lower for ARMs.