June's job report reveals the nation's job growth is slowing down

Construction jobs fell by 18,000 jobs in June
The National Employment Report revealed that private sector employment increased by 102,000 jobs from May to June, rising predominately in the service-providing sector. However, jobs in the good producing sector, including construction, manufacturing and mining all experienced a decline in June, according to ADP Research Institute and Moody’s Analytics. Ahu Yildirmaz, vice president and co-head of the ADP Research Institute claims the nation’s job growth is starting to show signs of a slowdown.
Read More

MBA: Sliding mortgage rates not enough to boost growth in application volume

The Market Composite Index slides 0.1% from last week
Last week, mortgage rates fell to a three-year low, but not even this decline was enough to spur growth in purchase activity volume, according to the Mortgage Bankers Association. Despite this decline, MBA Vice President of Economic and Industry Forecasting Joel Kan said the nation's strong job market and improving affordability still have a chance to support growth.
Read More

Former HUD employee admits to accepting Super Bowl tickets, other bribes from government contractor

Kevin Jones to serve 24 months in prison
A long-time employee of the Department of Housing and Urban Development will serve two years in prison after admitting to accepting numerous bribes, including tickets to three different Super Bowls, thousands of dollars in cash, and other gifts, in exchange for providing information about government contracts to a private business owner.
Read More

Housing News Podcast: AIME's Anthony Casa explains why the Blue Water Navy Vietnam Veterans Act is a win for the mortgage industry

Listen to this week's latest episode
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend. This week, Anthony Casa, the chairman of the Association of Independent Mortgage Experts and the founder and former president of Garden State Home Loans, explains why President Donald Trump's decision to back the Blue Water Navy Vietnam Veterans Act is good news for the mortgage industry.
Read More

Sound the alarm? Alt-doc loans have doubled in the last two years

Fitch expresses caution about rise of alternative documentation mortgages
After the housing crisis, the credit box shrank with the installation of the Qualified Mortgage lending standards. In recent years, some lenders have begun to expand on the credit box, as seen by a recent increase in non-QM lending. But that’s giving rise to some of the types of mortgage products that haven’t been seen since before the housing crisis, and one credit ratings agency is now expressing some concern about how risky some of those loans may be.
Read More

Inside the digital mortgage revolution: HSBC and Roostify on partnering to shape the future

Execs on how partnership came together and what it means for the future
Recently, HSBC Bank USA, the U.S. arm of HSBC Group, became the latest to launch a digital mortgage platform, partnering with Roostify. So, how did such a relationship come together? And what does it mean for the future of mortgages? To find answers to these questions, HousingWire sat down recently with executives from both HSBC and Roostify to discuss their partnership, how it came to be, and what the future holds.
Read More

Freddie Mac's former CEO is heading back to Harvard

Layton will be a senior fellow focused on housing finance reform at "critically important" juncture
After four years as CEO of Freddie Mac, Donald Layton is heading back to Harvard University, where he was a student in the 1970s. Harvard’s Joint Center for Housing Studies announced on Monday that Layton will be a senior fellow focused on housing finance reform. Michael Stegman, a top advisor on housing policy for the Obama administration, will serve as a senior fellow with the same focus, Harvard said.
Read More

SimpleNexus expands its executive team by welcoming three new VPs

The new hires will support the company’s expanding roster of clients
SimpleNexus, a digital solutions developer, recently expanded its executive team, welcoming three new vice presidents to the company, including Kent Besaw, Kevin McKenzie and Shane Westra. SimpleNexus President and COO Ben Miller said the company is proud to welcome three talented leaders who share SimpleNexus’ commitment to excellence and innovation.
Read More