The House of Representatives will soon return from summer recess and vote on the first phase of emergency relief money for areas affected by Hurricane Harvey. Take a look at how they plan on keeping FEMA operating while still funding federal disaster relief.
Read More »Could the Sellers Market be Coming to an End?
Sellers are still in control of the market, but buyers may be becoming less willing or able to pay. See what recent data has to say about the supply and demand dynamic in the housing market.
Read More »Watch Out for the Little Guy
With banking regulations becoming more strict, it may be hard for small banks to stay afloat. What are federal regulators doing to keep community banks competitive?
Read More »The Fight for New Homes
With low inventory hampering the housing market, new home sales may be the solution. Take a look at the current state of the single-family new home market.
Read More »Low Rates, Low Sales
Mortgage rates have been low for a while now, but consumers still aren’t buying. What is keeping potential homeowners out of the market, and what can be done to bring them back in?
Read More »Banks Report Declining Mortgage Performance
The first quarter was a mixed bag for Wells Fargo, JPMorgan Chase, and PNC. All three bank’s latest earning reports reveal lower gains on residential mortgage servicing rights and lower mortgage loan revenues, but the banks are optimistic going into the 2017. Overall earnings for JPMorgan Chase and Wells Fargo were down slightly from the previous quarter.
Read More »Mortgage Bankers Report Rising Profits
Independent mortgage bankers profits are up, according to the Annual Mortgage Bankers Performance Report. Independent mortgage banks and mortgage subsidiaries of chartered banks made an average of $157 more on average per loan originated in 2016 compared to 2015. The report also found that average production volume was $2,679 million per company, another increase from 2016’s $2,504 million per company.
Read More »Ellie Mae Inducts ClosingCorp into Hall of Fame
ClosingCorp recently announced its induction into the Ellie Mae Hall of Fame. The provider of real estate cost data and technology for the mortgage and real estate services industry was selected as the winner of the Lenders’ Choice for Best Service Provider Category.
Read More »Down Payments are the Biggest Barrier to Homeownership
Down payments are holding back renters from entering the housing market. Mortgage payments tend to be considerably cheaper than a rent payment on a monthly basis, but Zillow’s Housing Aspirations Report found that 70 percent of renters across the country are find high down payment costs to be the top roadblock to homeownership.
Read More »Jeb Hensarling Discusses CFPB Reform and Accountability
Financial Services Committee Chairman Jeb Hensarling still finds fault in the CFPB’s structure, and in Cordray’s leadership. According to Hensarling, Cordray “recklessly ignores the due process protections that have been deeply rooted in our American legal system for centuries." Hensarling hopes the Bureau will become the "cop on the beat" its supporters want.
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