National Mortgage News, Apr. 18, 2018–Brad Finkelstein (subscription)MGIC Investment Corp.’s first-quarter net income beat analysts’ estimates due to favorable loss development and that should be seen with the other private mortgage insurers.
Category: Top National News
Point Secures $150 Million Commitment to Buy Equity from Homeowners
HousingWire, Apr. 18, 2018–Ben LanePoint, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is set to grow thanks to a $150 million commitment from Atalaya Capital Management, a private investment firm.
Gilbert: ‘We’re Not Really in the Mortgage Business’
Crain’s Detroit Business, Apr. 18, 2018–Chad LivengoodQuicken Loans Chairman Dan Gilbert and Vice Chairman Bill Emerson spoke at a Mortgage Bankers Association conference in Detroit. Gilbert said Quicken Loans is more of a “data acquisition business” than a mortgage company.
Serious Mortgage Delinquency Down from Year Ago
Mortgage Daily, Apr. 17, 2018While there was no month-over-month change in serious mortgage delinquency, there was a year-over-year improvement. Miami saw a significant increase.
A Bubble in Commercial Real Estate May Be About to Pop
Business Insider, Apr. 17, 2018–Wolf RichterBanks are ramping up the extension of commercial real estate loans. CRE prices peaked in 2016 and are now flat-lining, which is partially due to the downturn of malls and traditional retail. Office and lodging buildings have been hit hard too.
Q2 Mortgage Refinance Outlook Increases
Mortgage Daily, Apr. 16, 2018The second-quarter forecast for refinance originations has been raised–though the gain came at the expense of expected second-half production.
Home Prices Up for 24th Consecutive Month
National Mortgage Professional, Apr. 16, 2018–Phil HallHome prices climbed for the 24th consecutive month in March while home sales fell for a fourth consecutive month, according to the latest RE/MAX National Housing Report.
Wells Fargo Faces $1B Fine from Federal Regulators over Mortgage, Auto Loan Abuses
USA Today, Apr. 13, 2018–Kevin McCoyFederal regulators are seeking a $1 billion payment from Wells Fargo to settle problems with mortgage and auto loan issues, along with compliance risk management concerns, the bank said Friday as it reported its first-quarter earnings.
Why the Dodd-Frank Rollback Has Some Small Banks Yawning
Wall Street Journal, Apr. 15, 2018–Ryan Tracy, Christina Rexrode (subscription)Smaller banks say deregulation bill doesn’t go far enough and mainly benefits the biggest regional banks.
Elizabeth Warren, Mick Mulvaney Spar in Senate Testimony over CFPB
CBS News, Apr. 12, 2018Massachusetts Democratic Sen. Elizabeth Warren grilled Office of Budget and Management Director Mick Mulvaney on Thursday over his numerous votes to abolish the Consumer Financial Protection Bureau.