News Flash

The level of commercial/multifamily mortgage debt outstanding increased by $46 billion in the fourth quarter of 2016
Commercial/Multifamily Mortgage Debt Up by $46M
The level of commercial/multifamily mortgage debt outstanding increased by $46 billion in the fourth quarter of 2016, a 1.6 percent increase from the third quarter and a 5.8 year-over-year increase, according to the new data from the... Read more
Independent mortgage banks and the mortgage subsidiaries of chartered banks reported a net gain of $575 on each loan they originated during the fourth quarter of 2016
Q4 2016 Loan Production Profits Decline
Independent mortgage banks and the mortgage subsidiaries of chartered banks reported a net gain of $575 on each loan they originated during the fourth quarter of 2016, according to new data from the Mortgage Bankers Association (MBA). This... Read more
Potential existing-home sales decreased to a 5.7 million seasonally adjusted, annualized rate (SAAR) in February while the market potential for existing-home sales fell by 0.5 percent compared January
Is the Housing Market Living Up to Its Potential?
Potential existing-home sales decreased to a 5.7 million seasonally adjusted, annualized rate (SAAR) in February while the market potential for existing-home sales fell by 0.5 percent compared January, a 28,000 (SAAR) sales decline,... Read more
Credit Scores Up in Q4 2016
The average credit score for homebuyers increased by four between the fourth quarters of 2015 and 2016, rising from 733 to 737, according to new data from CoreLogic’s Housing Credit Index. During the fourth quarter of 2016, the share of... Read more
PRMI Receives Invitation From Costa Rican School
Primary Residential Mortgage Inc. (PRMI) was invited to a Costa Rican elementary school during its 12th annual top producers event, where 35 team members participated in a day of giving back. Teachers and students at the Mercedes... Read more
Most home sellers made an effort in 2016 to negotiate their listing agent’s commission to a lower price, according to a survey commissioned by the real estate brokerage Redfin
Majority of Sellers Try to Cut Their Listing Agent’s Commission
Most home sellers made an effort in 2016 to negotiate their listing agent’s commission to a lower price, according to a survey commissioned by the real estate brokerage Redfin.   The survey, which was conducted in December, found 57... Read more
After weeks of silence on the question of the future of the Consumer Financial Protection Bureau (CFPB)
Trump Supports Effort to Reconfigure CFPB Leadership
After weeks of silence on the question of the future of the Consumer Financial Protection Bureau (CFPB), the Trump Administration has come out in favor of the concept of the agency but opposed to its set-up of a single director who does... Read more
Federal Reserve Bank of Minneapolis President and CEO Neel Kashkari defended his status as the lone member of the central bank’s Federal Open Market Committee (FOMC) to vote against an interest rate hike in a 13-page essay
Minneapolis Fed Chief Defends Dissent on Rate Hike
Federal Reserve Bank of Minneapolis President and CEO Neel Kashkari defended his status as the lone member of the central bank’s Federal Open Market Committee (FOMC) to vote against an interest rate hike in a 13-page essay that challenged... Read more
Ireland
13 Percent of Irish Housing Stock is Vacant
While St. Patrick is celebrated for driving the snakes out of Ireland, he might have been perplexed at fixing the nation’s current housing crisis: driving people into empty residences.   According to a report from the Irish news site... Read more
The latest piece of congressional legislation seeking to reconfigure the Consumer Financial Protection Bureau (CFPB) was introduced by Sen. Rob Portman (R-OH)
New Bill Seeks to Create CFPB Inspector General
The latest piece of congressional legislation seeking to reconfigure the Consumer Financial Protection Bureau (CFPB) was introduced by Sen. Rob Portman (R-OH), who is seeking to create a new dedicated, Senate-confirmed Inspector General (... Read more