Foreclosures | Mortgages | Financing
Community banks have taken their gripes about credit unions infringing on their territory to court, filing a lawsuit against a federal regulator.
In March, the National Credit Union Administration issued a final rule on business loans that are made by federally insured credit unions.
The final rule was intended to provide credit unions with more flexibility and autonomy in soundly making commercial and business loans.
From:: Financing
While the second digital revolution won’t be advertised with slick commercials of rocket launches, it will be just as important as the first one. The key for this second digital mortgage revolution? Integration. …read more
From:: Real Estate Wire
Urban Institute just released a study showing that, while single-women have a harder time getting a loan, they are actually more likely to make their payments. Of course, this is basically just repeating what we all know to be true, but finally there’s a[nother] study that proves it. …read more
From:: Real Estate Wire
More U.S. consumers resorted to bankruptcy last month, with new non-commercial filings climbing to the highest level in four months.
During August, there were 68,495 new bankruptcies that were filed in U.S. Bankruptcy Courts by both consumers and businesses.
Filings swelled from upwardly revised 61,340 filings the previous month and the upwardly revised 67,777 filings made a year previous.
From:: Financing
The U.S. Energy Information Administration on Wednesday raised its 2016 forecasts for U.S. crude production and West Texas Intermediate and Brent crude prices. In its monthly energy outlook report, the government agency forecast an average price of $41.92 a barrel for WTI this year, up from a previous estimate of $41.16. Brent crude is seen averaging $42.54 this year, up from the $41.60 August forecast. The EIA also raised its U.S. oil production estimate for 2016 by 0.4% to 8.77 million barrels a day, and for 2017 by 2.5% to 8.51 million barrels a day. October WTI crude traded at $45.48 a barrel, up 65 cents, or 1.5%.
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From:: Stock Market News
Loan originators averted a holiday slump and managed to maintain the pace of new mortgage applications heading into Labor Day.
During the week ended Sept. 2, retail residential loan applications ascended a seasonally adjusted 1 percent from a week earlier.
The activity was based on the Market Composite Index, which was mostly unchanged when there are no seasonal adjustments made.
From:: Financing
Bank of England Governor Mark Carney on Wednesday defended the central bank’s decision to launch stimulus efforts in the wake of the Brexit vote. “I absolutely feel comfortable in the decision that I supported and the committee took in August to supply monetary policy stimulus,” he told members of the Treasury Select Committee in London. A recent round of U.K. economic data have come in stronger than anticipated, raising questions about whether the bank acted too quickly and aggressively in easing monetary policy. Carney also said the risk of recession for the British economy has been reduced compared with before the June 23 referendum in which the majority of U.K. voters showed support for the country leaving the European Union.
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
The dollar climbed against the Mexican peso on Wednesday on reports Mexican Finance Minister Luis Videgaray has resigned. The dollar rose to 18.39 pesos after the announcement, unwinding a chunk of its declines from Tuesday’s session. The greenback traded at 18.29 pesos late Tuesday in New York. Videgaray’s resignation comes a week after U.S. Republican presidential nominee Donald Trump visited Mexico to meet with President Enrique Pena Nieto. Local media reports said the decision to invite Trump was Videgaray’s idea.
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
Fannie Mae’s Home Purchase Sentiment Index decreased in August as consumers begin to feel less optimistic about the economy. It is still up from last year, however, and continues its slow upward climb. Those who say it’s a good time to sell came down from an all-time high. …read more
From:: Real Estate Wire
As many sources have reported, New Jersey is one of the busiest foreclosure states in the nation.
The reasons for the volume of foreclosures may be debated by the pundits, but is most likely the result of a number of factors, some of which are listed below:
The average cost of a home in New Jersey is one of the highest in the nation (New Jersey in fact boasts the fifth highest cost).
From:: Financing