The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Politics & Money

Federal Reserve ready to maintain rate, minutes show

Central bankers unconcerned about record-low unemployment

Federal Reserve officials used to worry that if the U.S. unemployment rate dropped below 5% it would spark inflation, which would lead to higher borrowing costs, including mortgage rates. Now, they say the tightest labor market in 50 years could get even tighter without concern.

The jobless rate was 3.5% in November, matching the September measure that was the lowest since 1969. The rate for December comes out on Friday morning.

“Participants remarked that there were some indications that further strengthening in overall labor market conditions was possible without creating undesirable pressure on resources,” according to the minutes of the Fed’s Dec. 10 to 11 meeting, released on Friday.

The average annual U.S. salary for full-time workers rose to a record high of $69,181 in November, up 3.4% from a year earlier, according to the Federal Reserve Bank of New York. Adjusted for inflation, median household income in November was 7.5% higher than it was in 2007 start of the Great Recession.

Fed officials “discussed how maintaining the current stance of policy for a time could be helpful for cushioning the economy from the global developments that have been weighing on economic activity,” the minutes said.

The minutes showed policymakers worried about a steep slowdown in the U.S. manufacturing sector. The Institute for Supply Management said Friday that its index for factory activity fell in December to the lowest level in over a decade. It was the fifth consecutive month the gauge declined.

“Overall manufacturing production appeared likely to remain soft in coming months, reflecting generally weak readings on new orders from national and regional manufacturing surveys, declining domestic business investment, slow economic growth abroad, and a persistent drag from trade developments,” the Fed minutes said.

According to futures markets, 91% of investors are betting the Fed maintains its current stance at its next meeting, Jan. 28 and 29, according to CME Group’s FedWatch tool on Monday. That was down from 96% a week ago, a reading taken before the U.S. drone attack on Friday that killed Qasem Soleimani, Iran’s top general.

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Ex-loanDepot COO: Tony Hsieh cut corners to boost volume

The suit, filed by former COO Tammy Richards, accuses loanDepot CEO Anthony Hsieh of ordering the sales team to “trust [their] borrowers” and close loans, disregarding proper underwriting etiquette. 

Sep 23, 2021 By and

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UWM announces Bolt underwriting system for brokers

In a keynote session about the future of mortgage, UWM CEO Mat Ishbia previewed Bolt, an underwriting system that he said would enable brokers to underwrite a loan in 15 minutes or less, which will go live on Monday, Sept. 27.

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3d rendering of a row of luxury townhouses along a street

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