Sunday, 25 August, 2019


Category: National Mortgage News

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Though WeWork’s recent initial public offering launch raised some eyebrows, the company is moving ahead with plans to court institutional investors in commercial mortgage-backed securities. According to ratings agency presale reports, an investment joint venture controlled by the collaborative workspace provider will sponsor a $240 million commercial mortgage bond sale to partially finance the purchase of an office building in Read more…

The Mortgage Industry Standards Maintenance Organization is working with stakeholders to come up with a common means of handling new tax transcript authorization requirements in the Taxpayers First Act. The new requirements must be implemented by anyone asking the taxpayer for this information, including mortgage lenders, by Dec. 28. President Trump signs the Taxpayer First Act, which contains new requirements Read more…

Since 2008, the U.S. mortgage industry has been buffeted by a great many changes and a lot of volatility and risk in the financial markets. The chief source of risk to the world of mortgage finance, for example, now comes from monetary policy and the Federal Open Market Committee. Witness the precipitous drop in yields on the 10-year Treasury note Read more…

Helping Americans prepare for retirement is a $14 trillion opportunity most fintech startups are missing out on as they focus on the needs of millennials instead of older Americans, according to Ben Cukier, co-founder of Centana Growth Partners. Cukier has been investing in fintech startups since before fintech was a thing. Previously he was a partner at FTV Capital, which Read more…

Essent Group continued to benefit from the volatility among private mortgage insurers’ market share, remaining in second place at the end of the recent quarter as other companies’ rankings shifted. Since January, all six active underwriters have used a technology-driven risk-based methodology known as black box pricing and some have suggested it has resulted in a shift in business among Read more…

A Sacramento CEO has pleaded guilty to embezzling funds from his employees’ pensions, according to a news release from the U.S. Attorney for the Eastern District of California. Court documents show David L. Bonuccelli, 65, was the CEO of a real estate investment consultant and advisory firm which worked with public pension funds, institutional investors, endowments and individual investors. The Read more…

The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.

Forecasts for residential remodeling growth are looking dimmer, but this isn’t necessarily a bad thing for the mortgage market.

From the Carolinas to the Sunshine State, here’s a look at the cities offering the biggest job growth over the past five years.

Pretax mortgage income at NVR Inc. surged 37% year-over-year in the second quarter while originations rose 1%, contrasting more tepid home-loan earnings results relative to originations at big banks.

The potential for home resales rose 1.1% month-to-month as mortgage rates fell, but buyers only became more entrenched as their purchase power increased, according to First American.

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans were lower than a year ago due to decreased servicing revenue.

Homebuilders’ optimism increased as low mortgage rates fueled demand. However, affordability constraints and the continuing scarcity of construction workers and land parcels remain concerns.

Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

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