News Flash

The Federal Reserve’s policy-making Federal Open Market Committee convened for its first meeting of the year and, in a unanimous vote, opted not to raise rates
Fed: No Rate Hike Today
The Federal Reserve’s policy-making Federal Open Market Committee convened for its first meeting of the year and, in a unanimous vote, opted not to raise rates.   “In view of realized and expected labor market conditions and inflation, the... Read more
Sen. Harry Reid (D-NV) has looked into the future and does not see Sen. Elizabeth Warren (D-MA) as a viable candidate for the Democratic Party’s presidential nomination in 2020
Warren Voices Opposition to Trump’s Supreme Court Pick
In what could charitably be described as the least surprising political news of the day, Sen. Elizabeth Warren (D-MA) greeted President Donald Trump’s choice of Neil Gorusch for the U.S. Supreme Court with an immediate denunciation. In a... Read more
Inquiries into home loans were on the decline last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 27
Mortgage Applications Take a Slight Decline
Inquiries into home loans were on the decline last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 27.   The Market Composite Index dropped by 3.2 percent on a seasonally... Read more
Two new data reports offer differing views on the current state of homeownership
Homeownership Rate Stagnant, Yet Demand Is Up
Two new data reports offer differing views on the current state of homeownership.   According to the U.S. Census Bureau, the homeownership rate in the fourth quarter of 2016 was 63.7 percent, which was not statistically different from the... Read more
The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
CFPB Charges Prospect Mortgage With Kickbacks
The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty.   According to the CFPB, Prospect... Read more
Mnuchin and Sessions Nomination Votes Delayed
President Donald Trump’s choice of former bank executive Steven Mnuchin to become the next Secretary of the Treasury was put on hold as the Democratic members of the U.S. Senate Finance Committee boycotted today’s scheduled vote on his... Read more
MBA Revisits GSE Reform
While the first days of the Trump Administration have been focused on a myriad of domestic and global issues, the Mortgage Bankers Association (MBA) has offered a reminder that the fate of the government-sponsored enterprises (GSEs)... Read more
Now here is something that you don’t see every day: A homebuyer making a seven-digit profit by purchasing a residential property
Homebuyer Makes $1.3M Profit Using Bitcoin
Now here is something that you don’t see every day: A homebuyer making a seven-digit profit by purchasing a residential property.   According to a report in The Coin Telegraph, an individual seeking to purchase a $4 million residence in... Read more
Home prices continued their seemingly unstoppable ascension, according to the latest data from the S&P CoreLogic Case-Shiller Indices
No Surprise Here: Home Prices Keep Rising
Home prices continued their seemingly unstoppable ascension, according to the latest data from the S&P CoreLogic Case-Shiller Indices.   The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S.... Read more
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.18 percent this month
CMBS Delinquency Rate Down This Month
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.18 percent this month, a drop of five basis points from December’s 14-month peak, according to new data from Trepp LLC. On... Read more