Federal regulators announced a proposal Tuesday to double the standard Basel III leverage ratio for the "largest, most systemically significant" banks. The proposal would also require covered bank holding companies to maintain a tier 1 capital leverage buffer of at least 2 percent above the minimum supplementary leverage ratio requirement of 3 percent, for a total of 5 percent, the regulators stated. Currently, the proposed rule would apply to eight banks.
Read More »Mortgage Credit Availability Up Slightly
Mortgage lending standards loosened slightly in June, according to the Mortgage Bankers Association's (MBA) Mortgage Credit Availability Index (MCAI). The index, which analyzes data from AllRegs Market Clarity, increased to 109.8, a gain "primarily driven by a small uptick in the number of products which offer a cash-out feature. There were also small increases in the number of jumbo, investor, and higher LTV [loan-to-value ratio] offerings," the association said in a release.
Read More »Total Mortgage Services Purchases New Headquarters Building
Total Mortgage Services, LLC, a leading mortgage lender, took the next step in its expansion with the purchase of a new headquarters building in Milford, Connecticut.
Read More »Americans Report More Financial Troubles
Americans polled by Consumer Reports indicated they are facing significantly more financial troubles than in June, according to the group's latest index. According to Consumer Reports, the Trouble Tracker Index climbed more than five points to 39.2 in July, "an increase that was entirely fueled by an epic 23.3-point jump among those households earning $100,000 or more," the organization said. The spike in difficulties reported both upper-income households was reflected in the report's consumer sentiment measures.
Read More »MCS Promotes Vendor Management Vet to VP
In Florida, Mortgage Contracting Services (MCS) announced the promotion of Elspeth Spransy to VP of vendor management.
Read More »Analysts Bullish on Originations Despite Interest Rate Spikes
In a commentary released Tuesday, analysts at FBR Capital Markets pointed to market trends and recent events as evidence that origination volumes should remain elevated.
Read More »Job Openings Edge Up in May, Hiring Strong
The number of job openings edged up in May, increasing for the for the first time since February as hirings continued to improve, on a pace to exceed 2012, the Bureau of Labor Statistics reported Tuesday in its monthly Job Openings and Labor Turnover Survey.
Read More »Experts: Foreign Buyers Not Bolstering Recovery
Following a report from Truliathat foreign interest in U.S. housing is on the decline, Capital Economics reported foreign investment is peripheral to the housing market recovery.
Read More »Survey: Mortgage Rate Spike Changing Consumer Attitudes
Responses to Fannie Mae's latest National Housing Survey indicate potential homebuyers may enter the purchase market sooner rather than later.
Read More »Stewart Title Appoints President of Stewart Abstract & Title of Oklahoma
Stewart Title Company announced the appointment of Mary Ann Nelson-Sutterfield to lead Stewart Abstract & Title of Oklahoma as president.
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