Economist: Here's why mortgage supply and demand isn't normal

Economist: Here's why mortgage supply and demand isn't normal

What has recovered or is close to being recovered?

CFPB responds to criticisms of consumer-complaint database program

Bureau answers questions raised by HousingWire, Mercatus and trade groups

Mercatus: CFPB shouldn’t create open consumer-complaint database

Info would be unfair, inaccurate, costly and without statutory authority
W S

Lending

Here’s why mortgage rates won’t hit 2014 expectations

Originally estimated to reach 5%
Brena Swanson
Mortgage rates have continuously defied expectations in 2014. Originally estimated to hit 5% by the end of this year, September's 30-year, fixed-rate mortgage averaged 4.12%.
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Economist: Here's why mortgage supply and demand isn't normal

What has recovered or is close to being recovered?
Jonathan Smoke
The housing ecosystem is immensely complex and highly local. What’s needed in Houston and Dallas looks very different than what’s needed in Chicago and Philadelphia. That’s why we need bipartisan leadership to work at national, state and local levels.
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Entertainment mogul looking to “simplify,” lists six homes for $107 million

Robert F.X. Sillerman to sell properties in Manhattan, Anguilla and the Hamptons
Ben Lane
According to a report in The Wall Street Journal, Sillerman and his wife Laura, have listed six of their homes in Manhattan, the Hamptons and on the Caribbean island of Anguilla for sale in an effort to “simplify” their lives.
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HUD fines FirstBank Mortgage Partners for maternity-related discrimination

Couple denied mortgage because of maternity leave
Ben Lane
According to the original complaint filed against FirstBank, a married couple alleged that FirstBank approved their mortgage application and scheduled its closing, but upon learning that the wife was on maternity leave, the lender reversed field and denied the mortgage loan. The couple was notified of the loan denial within 24 hours of the scheduled closing.
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Turning negatives into positives

CFPB consumer pain points provide base line for industry change
Matt Corcoran

If you aren’t honest with yourself on the issues customers are facing, you’ll have a tough time embracing a plan to improve your service levels to match customer expectations.


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NRBA President Michael Krein auctioned off to highest bidder

NRBA members raise money in charity auction
Ben Lane
Krein was auctioned off four times for a total of $44,000. In total, the NRBA raised nearly $62,000 for the Make-A-Wish Foundation.
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Mercatus: CFPB shouldn’t create open consumer-complaint database

Info would be unfair, inaccurate, costly and without statutory authority
Trey Garrison
Open publication of the Consumer Financial Protection Bureau’s consumer complaint narrative database is unfair, unlawful, prohibitively expensive and distracts the bureau from its actual mission.
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More homeowners retire with outstanding student loan debt

Defaults come out of social security checks
Brena Swanson
Yes, millennials have accrued an absurd amount of student debt, putting a damper on the housing recovery. But they're not alone in dealing with the burden of student loans.
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Report: Credit card debt nearing "tipping point"

Payments getting closer to becoming unsustainable
Brena Swanson
As the housing market continues to remain stagnant, consumers are quickly racking up credit card debt, teetering on the edge of instability. And the current trend for millennials doesn't look too promising either.
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Freddie Mac: Mortgage rates continue to remain low

Edging slightly higher
Brena Swanson
Mortgage rates continue to barely move, slightly edging higher for the week ended Sept. 11. Rates remain low, according to the Freddie Mac Primary Mortgage Market Survey.
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