Hey CNBC, shut up about millennials already

Hey CNBC, shut up about millennials already

Your advice is patronizing, contradictory and just plain wrong

Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans

New home sales collapse, erasing recent surge

Sales 11.5% down YOY; fall to 406,000 annual pace
W S

Lending

How hard is it to get a mortgage?

Depending on your circumstances, it’s not as hard as you may think
July 24, 2014
The Wall Street Journal identifies two distinct segments of potential borrowers — one can get credit fairly easily while the second group has a significantly more difficult time.
Read More

Small mortgage lenders and large banks face off

Fannie Mae: Smaller lenders to contract credit standards
July 24, 2014
Lending standards are likely to tighten at smaller and mid-size lenders over the next three months, but at the same time, the smaller guys are stealing larger bank’s mortgage market share.
Read More

CFPB proposes HMDA rule changes

Works to keep pace with market
July 24, 2014
The Consumer Financial Protection Bureau is proposing a new rule in order to improve information reported about the residential mortgage market and communication with consumers.
Read More

MGIC CEO retires, Patrick Sinks fills role

Curt Culver becomes non-executive chairman
July 24, 2014
MGIC Investment Corporation’s CEO announced Curt Culver, 62, will retire as CEO and become non-executive chairman. Patrick Sinks, 57, will step in to become CEO, in addition to joining the board of directors.
Read More

Hey CNBC, shut up about millennials already

Your advice is patronizing, contradictory and just plain wrong
July 24, 2014
CNBC’s analysts seem to view millennials as a giant homogenous mound of humans who all think the same way, look the same way, do the same things and look at the world in the exact same way. And every day, CNBC’s analysts opine on why millennials aren’t buying homes, or buying stocks or buying whatever else it is that CNBC thinks is important that day.
Read More

Jobless claims drop to 8-year low

But it’s not all-positive news
July 24, 2014
Jobless claims plummeted by 19,000 filings to 284,000 for the week ended July 19, the lowest level for initial claims since Feb. 18, 2006. But it's what is hidden behind the numbers that is important to note.
Read More

Freddie Mac: Mortgage rates push buyers to market

Despite slight rises, rates still low
July 24, 2014
"Mortgage rates have entered the summer doldrums, showing very little movement one way or another. The benchmark 30-year fixed mortgage rates has fluctuated within a very narrow range – one-tenth of a percentage point – since mid-May," Bankrate said.
Read More

What happens when consumers can shop for settlement services?

TILA-RESPA rule requires a list for consumers to choose from
July 24, 2014
Creditors are going to be required to provide a written list of providers (at least one), and obtaining/delivering this information entails added administrative work.
Read More

More proof housing is headed for a fall

Dismal market can't be blamed on weather
July 24, 2014
With over 7 million Americans working in part-time positions rather than the full-time jobs they would prefer having, and with so many millions more dropping out of the workforce altogether, the case is made… again, that our economic outlook is not rosy as we sloth through the remainder of 2014.
Read More

CoreLogic slashes 2014 mortgage origination estimate by 10%

Still reports revenue growth of 13%
July 23, 2014
CoreLogic’s second-quarter revenue increased to $349.4 million, which was also up 0.4% from 2Q13. The company said that the increase was “despite an estimated 50% contraction in U.S. mortgage volumes.”
Read More