Last week was a wild one for mortgage rates with the lowest levels in nearly a year on Monday and an abrupt spike after Wednesday’s Fed announcement. The present week has been completely different with each day seeing minimal change compared to the previous session. Today was no exception. This was actually a logical outcome […]
Mortgage Rates End Week as it Began Read More »
Federal Reserve Vice Chair for Supervision Michelle Bowman said the U.S. central bank should seek to achieve the smallest balance sheet possible and overhaul its regime for implementing monetary policy. “Over the longer run, my preference is to maintain the smallest balance sheet possible with reserve balances at a level closer to scarce than ample,”
Bowman says Fed should use smallest possible balance sheet Read More »
Farmer Mac Farmer Mac CEO Bradford Nordholm will retire in 18 months, the company announced Thursday. Nordholm took over as CEO in 2018, almost a year after Farmer Mac fired former CEO Timothy Buzby for violating company policies not related to its financial and business performance. With Nordholm at the helm, Farmer Mac, a secondary
Farmer Mac CEO Bradford Nordholm to retire in 2027 Read More »
Long-time mortgage industry executive Jerry Halbrook has been named president and chief operating officer of insuretech Covered Insurance. Halbrook’s hiring is the latest sign of the convergence between the lending process and insurance, the company said. Jerry Halbrook is president and COO of Covered Insurance Property insurance costs have increased in recent years, and in
Former Black Knight exec Halbrook joins Covered Insurance Read More »
The value of government-sponsored enterprises’ Fannie Mae and Freddie Mac stems from their mortgage-market role and experts at a Bipartisan Policy Center event at times took varying stances on what it would take to preserve and protect that position amid reform. The panel’s comments arrived ahead of Federal Housing Finance Agency Director Bill Pulte’s ongoing
Panel eyes GSEs’ guarantee as public offering talks progress Read More »
In the real-estate investment market, business operators are more frequently buying and selling among themselves, according to new Batchdata research. While businesses that buy homes with the intent of flipping or renting them out might purchase from a variety of sources, over half resell those properties to other investors, a second-quarter report published by the
Who buys investor properties? Increasingly, other investors Read More »
Key Insight: Washington Federal Bank and Planet Home Lending are only the latest in a long list of businesses against which the CFPB has terminated its consent orders. Supporting Data: Since Donald Trump returned to the White House, the CFPB has dropped dozens of enforcement actions and initiated only two. Expert quote: “It’s clear that
CFPB drops enforcement actions against two more lenders Read More »
Chana R. Schoenberger Key insight: Federal Reserve Governor Lisa Cook asked the Supreme Court to deny President Donald Trump’s request to overturn a preliminary injunction previously issued by a district court. In her filing, Cook called the Court’s intervention “premature.” Expert Quote: “A stay from this Court would signal to the financial markets that the
Filings warn of market chaos if Fed Gov. Cook is removed Read More »
Adobe Stock OCMBC is retiring a controversial name it does business under, Jet Advantage Mortgage, and is replacing it with a new one, the company announced this week. But the new moniker does not resolve outstanding legal issues OCMBC has with a local rival. GIANT Lending will serve as the company’s nationwide wholesale lender with
OCMBC launches new business name, retires old one Read More »
Luxury real estate brokerage SERHANT. is expanding into Rhode Island with its first office opening on Oct. 6 — a move founder Ryan Serhant says will be the largest single brokerage entry in the market to date. “We always start with one (office) as we move from state to state,” said Serhant. in an exclusive
SERHANT. gears up for October Rhode Island expansion Read More »