Foreclosures | Mortgages | Financing
President Donald Trump’s executive order to roll back the Dodd-Frank Wall Street Reform doesn’t do much by itself, lawyers say. Rather than an outright demolition of existing financial regulations, the order mostly points to an already existing act championed by the House Financial Services Committee chairman to replace Dodd-Frank …read more
From:: Real Estate Wire
A recent report from Kroll Bond Ratings Agency suggested that one area that the Trump administration should focus on in its regulatory reform efforts is the requirement that financial institutions hold capital to prevent the need for a bailout in a financial downturn. As a result of those requirements, the country’s six largest banks currently hold more than $100 billion in excess capital.
So, what happens to all that money if the capital requirements are overhauled or eliminated? …read more
From:: Real Estate Wire
Home prices finished 2016 with a bang, increasing over 7% annually. However, CoreLogic forecasts home price increases in 2017 to continue due to low inventory and high demand, but they will be more subdued. …read more
From:: Real Estate Wire
The U.S. Energy Information Administration raised its forecast on crude production and prices for this year, according to the agency’s latest Short-term Energy Outlook report released Tuesday. The EIA forecast U.S. crude production at an average 9 million barrels per day in 2017, up from an estimated 8.9 million in 2016. It sees 2018 output climbing to 9.5 million barrels a day. It forecast West Texas Intermediate crude at an average $53.46 a barrel this year, up from the previous forecast for $52.50 and Brent crude at $54.54 this year, up from $53.50. “Global oil supply and demand is now expected to be largely in balance during 2017 as the gradual increase in world oil inventories that has occurred over the last few years comes to an end,” said Howard Gruenspecht, acting EIA administrator, in a statement. March West Texas Intermediate crude continued to trade lower, down $1.04, or 2%, at $51.97 a barrel. April Brent fell 87 cents, or 1.6%, to $54.85 a barrel.
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From:: Stock Market News
With an acquisition deal negotiated, Flagstar Bancorp Inc. will be able to claim the title of the fourth-largest correspondent mortgage originator.
Flagstar previously reported that overall residential production from all originations channels was $32.453 billion during all of last year.
Included in the Troy, Michigan-based financial institution’s full-year 2016 volume was $24.5 billion in correspondent loan acquisitions.
From:: Financing
Lending conditions in real estate finance were more relaxed for the fifth consecutive month. Jumbo lending loosened most.
As of the first month of the new year, the Mortgage Credit Availability Index was calculated to be at a level of 177.1.
The MCAI, which is a standardized quantitative index focused on mortgage credit, increased from 175.2 in December 2016.
From:: Financing
After announcing late Monday that it intends to acquire Stearns Lending’s delegated correspondent lending business, Flagstar Bancorp is positioned to grow its already sizable footprint in the mortgage business, FBR & Co. analysts said in a note to clients. Here’s their take on the deal. …read more
From:: Real Estate Wire
The homeownership rate for African Americans dropped in 2016, but one expert, covered in the publication Black Enterprise, explains why they should buy real estate now. He explains why Trump’s policies make now the best time to invest in a home. …read more
From:: Real Estate Wire
The U.K.’s minister for Brexit David Jones on Tuesday promised that members of parliament will get a vote on the final deal to leave the European Union, before it is put forward to the European parliament. Making the concession during a debate about Article 50, Jones said both the House of Lords and the House of Commons will get a vote on the Brexit arrangements. “First of all we intend that the vote will cover not only the withdrawal arrangements but also the future relationship with the European Union,” Jones said during the debate, according to U.K. media reports. “Furthermore, I can confirm that the government will bring forward a motion on the final agreement to be approved by both Houses of Parliament before it is concluded, and we expect and intend that this happen before the European parliament debates and votes on the final agreement,” he added.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
U.S. stocks rose on Tuesday, as the three main benchmarks advanced toward fresh records after a series of earnings reports. The S&P 500 index climbed three points, or 0.2%, to 2,296. The Dow Jones Industrial Average rose 65 points, or 0.3%, to 20,116. The Nasdaq Composite Index gained 11 points, or 0.2%, to 5,673, touching an intraday record. Among individual stocks, Michael Kors Holdings Ltd. tumbled after the apparel seller’s third-quarter revenue and fourth-quarter guidance both fell short of expectations. General Motors Co. after the company blamed currency exchange headwinds for a sharp drop in its fourth-quarter net income. Gap Inc. rose after it said late Monday that it expects to top profit targets for 2017.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News