Imagine a day when the mortgage and other fixed-income markets operate like transparent and seamless exchanges. That’s the vision of Brett Benson, Co-President and Chief Investment Officer of Rocktop.
Category: News and Trends
142,000 Jobs Added in August, Unemployment Rate Stagnant
The U.S. Bureau of Labor Statistics released jobs data from August, finding that total nonfarm payroll enrollment increased by 142,000. The unemployment rate changed little at 4.2%.
Chart of the Week: Payroll Growth and Unemployment Rate
The August employment report confirmed that the job market is cooling. With a 142,000 job increase in August and downward revisions of the June and July numbers, job growth has slowed to an average of 116,000 jobs over the past three months.
ICE’s Vicki Vidal: Preparing for the Proposed Regulation X Rule to Streamline Loss Mitigation
Adding to the significant changes in loss mitigation products and policies this year, the Consumer Financial Protection Bureau has published a proposed rule that revamps the current loss mitigation rules.
Adapting to Market Changes With Strong Partners [Sponsored Content From ServiceLink]
Jim Gladden identifies key characteristics to look for in your providers.
Servicing Quote Tuesday, Sept. 3, 2024
“FHFA and the enterprises will continue to engage with stakeholders to support both tenants and housing providers as these policies take effect in February 2025.”
–Federal Housing Finance Agency Director Sandra L. Thompson on the new protections for renters
KBRA Says CMBS Appraisal Reductions Are Climbing
Kroll Bond Rating Agency, New York, reported that commercial mortgage-backed securities appraisal reduction amounts–ARAs–have climbed in tandem with delinquency rates.
MBA Affordable Housing Leader Steve O’Connor Announces Plans to Retire
Steve O’Connor, MBA’s Senior Vice President for Affordable Housing Initiatives, recently announced plans to retire at the end of September.
Home Mortgage Lending Rebounds, ATTOM Finds
Just over 1.6 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the second quarter, per ATTOM, Irvine, Calif.
Meet Scott Norman, CEO of the Texas Mortgage Bankers Association
MBA NewsLink recently interviewed 30-year mortgage banker Scott Norman, the new CEO of the Texas Mortgage Bankers Association, about his career and his plans for TMBA.