Headlines and Blogs from Around the Web
Wells Fargo & Co. (WFC) settled a lawsuit over claims it mismanaged institutional investors’ collateral received as part of its securities lending program, lawyers for both sides told a judge as a trial was close to starting.
The Johnson-Crapo housing reform measure is slated for markup April 29, and a report by Moody’s Investors Services says the GSE package could help kick-start issuance in the private-label residential mortgage-backed securities.
U.S. mortgage lending is shrinking down to a 17-year low to levels unseen since 1997 as mortgage rates and home prices continue to climb.
There may some indicators that the rest of 2014 won’t be good for housing, but the news isn’t quite as bad as it seems. In fact, things just may be looking up.
Mortgage originations have plummeted by more than 70 percent from a year ago at Citigroup Inc. and were down by more than a third from the prior quarter. But the lender improved performance on its mortgage portfolio.
JPMorgan Chase’s shares lost almost 4% of their value over trading on Friday, April 11, after the country’s largest bank reported a worse-than-expected performance for the first three months of the year.
Loan origination system (LOS) provider Ellie Mae reports that the recent network outage that affected its customers two weeks ago was not due to a distributed denial of service (DDoS) attack, as was initially believed, but rather was "triggered by a confluence of factors involving network, hardware, software and demand for service."
Mortgage-bond traders at JPMorgan Chase & Co. (JPM:US), Morgan Stanley and Royal Bank of Scotland Group Plc (RBS) were placed on leave in recent weeks or months, according to people familiar with the matter.
The spread between jumbo and conforming mortgages is shrinking. And that’s a good thing for the mortgage market. It means that private capital is coming back into the market, according to analysis from Capital Economics.
Struggling homeowners across the country could face significant new tax bills if they receive mortgage relief from their banks, a prospect that threatens to slow the housing recovery and put further strain on distressed borrowers.
U.S. mortgage lending is contracting to levels not seen since 1997 -- the year Tiger Woods won his first of four Masters championships -- as rising interest rates and home prices drive away borrowers.
Health care costs aren't rising fast enough for the Fed's liking, and that may help keep interest rates lower for longer.
Adult children have reason to be wary when their parents start talking about reverse mortgages. The loans make sense only for those who plan to stay in their homes for the rest of their lives and can afford to pay property taxes and insurance for that long.
Move over Wells Fargo, Bank of America, and other mortgage lenders, you’ve got new competition: grandpa and grandma.
Earnings at two of the nation’s largest banks illustrate a continued slowdown on Wall Street and Main Street, which casts a shadow on economic growth prospects.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.