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Items Tagged with 'Interest rates'

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Monday Morning Cup of Coffee: CFPB under the gun again

Plus disparate impact, what the Fed is doing, #FannieGate and more
Trey Garrison
Today could be a big legal day for housing, as the Supreme Court will determine whether housing policy is subject to the onerous burdens of “disparate impact.” Plus, housing metrics for the week, the mixed outlook on what the Fed will do with rates, more investigations of the CFPB and a whole lot more you won’t want to miss.
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CFPB launches investigation into Bankrate mortgage rate tracker

Questions Bankrate’s quality control process
Ben Lane
The CFPB is requesting that the publishing company produce “certain documents” and answer questions relating to the company’s quality control process for its mortgage rate tables. The inquiry could serve as a wakeup call as many websites in the mortgage space offer rate trackers as a service. Click the headline for full coverage.
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Monday Morning Cup of Coffee: Who’s buying pieces of Butler & Hosch?

Plus why Millennials aren’t buying; The impact of higher interest rates
Ben Lane
One month ago, one of the nation’s largest mortgage industry law firms, Butler & Hosch, shut down abruptly after almost 35 years in business. So who's buying up pieces of the now-defunct firm? Plus a look at why Millennials aren't buying in the nation's largest cities and what last week's mortgage application data and interest rate reports tell us about the future of housing.
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Fannie Mae raising mortgage modification interest rate again

New rate effective June 12
Ben Lane
Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program after lowering it just one month ago. Beginning June 12, Fannie Mae will raise its required interest rate for standard modifications from 4% back to 4.125%.
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Economy adds 280K jobs but unemployment ticks up

Support builds for fall rate hike
Trey Garrison
If the Federal Reserve is looking for cover in raising interest rates, they got it with the May jobs report. Here's what happened and what it will mean.
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Goldman Sachs: Expect interest rates to rise in September

Mortgages not getting any cheaper for homeowners
Jacob Gaffney
However, in an email authored by Chief Economist Jan Hatzius, this forecast for rising interest rates to begin in September remains “a close call.”
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Monday Morning Cup of Coffee: Setting the stage for higher interest rates

Delinquencies drop, call to delay TRID grows, and housing metrics
Trey Garrison
Lots of changes in markets foreign and domestic are aligning that could press the Fed into admitting weak US data, with a resulting impact on interest rates. Plus, Ginnie Mae has a glitch, and much more. Read on.
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This Capital Economics chart shows the mortgage-lending turnaround

“Sharp rise in purchase applications”
Jacob Gaffney
“The sharp rise in home purchase mortgage applications, to a two-year high in April, was an encouraging sign that the market may finally be turning a corner after years of stagnation,” said economists Andrew Hunter and Ed Stansfield.
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Here's why quantitative easing means only the rich get richer

Middle-class workers left behind by Fed policies
Lynn Effinger
Yes, there really is inequality in America. It goes well beyond what you are being told by the media, however, and QE and its associated zero interest rate policy are a major reason economic inequality is growing instead of shrinking.
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Fannie Mae dropping mortgage modification interest rate

New rate effective on May 14
Ben Lane
Fannie Mae is set to lower the benchmark interest rate for its Standard Modification program. Here's what mortgage servicers need to know about the change.
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