Mortgage risk increases for 7th consecutive month

Mortgage lending became riskier for the seventh consecutive month in June as the market continued to shift toward purchase loans and away from refinances. First American analyzed the top five riskiest markets for mortgage lending.
Source: HousingWire Magazine

OCC sounds alarm on CFPB arbitration rule, welcomes Congressional repeal

There’s good news and bad news for the Consumer Financial Protection Bureau’s new arbitration rule. On the positive side, the Office of the Comptroller of the Currency doesn’t plan to stand in the way of the rule being implemented, as the OCC recently threatened to do. On the other hand, the OCC isn’t planning to intervene in the arbitration rule situation because Congress is currently in the process of repealing the rule.
Source: HousingWire Magazine

Amazon versus the Trump administration: Who are executives more afraid of?

Amazon is causing more fear in corporate America than the Trump administration, and the housing market is no exception to this. This new article from Bloomberg tracks exactly how many times Amazon comes up in earnings calls versus the Trump administration.
Source: HousingWire Magazine

Freddie Mac: Construction employers struggle to attract Millennials

Freddie Mac released its latest monthly report which shows the construction industry is increasingly unable to keep up with the rising demand for new homes. Single-family construction builders continue to see an increase in construction job openings as they struggle to attract Millennials to the market.
Source: HousingWire Magazine

UPDATE: Wall Street veteran Anthony Scaramucci fired from leading White House role

Scaramucci = in; Spicer = out.
Scaramucci = in; Priebus = out.
Priebus = out; Kelly = in.
UPDATE: Kelly = in; Scaramucci = out.
Scaramucci = out; Spicer = in???
Source: HousingWire Magazine

Who will lead the CFPB if Director Cordray leaves the top spot?

Industry rumors are near a boiling point on whether or not Consumer Financial Protection Bureau Director Richard Cordray will leave the bureau to run for Ohio governor. But as people are hyper focused on whether or not Cordray will resign, they’re missing an even bigger question that impacts the future of mortgage finance: Who will run the CFPB after Cordray?
Source: HousingWire Magazine

CFPB issues warning: Don’t trick consumers into using costly pay-by-phone option

Attention financial services companies: If you offer a pay-by-phone option and steer customers to said option unnecessarily, the Consumer Financial Protection Bureau may come knocking. The CFPB said Monday that it is issuing a warning to all companies under its supervision because the agency is concerned about companies “tricking” consumers into using expensive pay-by-phone options.
Source: HousingWire Magazine

Here are the top 7 metros with highest home price increases

Home prices increased in every state and in all top 40 largest metros in the U.S., hitting yet another new peak in May. And while many states and cities hit all new peaks, most of the growth is coming from outside the nation’s largest cities.
Source: HousingWire Magazine

Pending home sales reverse 3-month downward trend

Pending home sales reversed course in June with an increase after months of reported declines. In fact, the report even upwardly adjusted May’s sales to reflect a slight increase. Despite the increasing sales, homebuyers continue to struggle with record-low levels of housing inventory.
Source: HousingWire Magazine

Comment on Bank’s Letter to Appraiser Started Off With … by Stacy

Having read this I believed it was really enlightening.

I appreciate you taking the time and energy to put this information together.
I once again find myself spending way too much time
both reading and leaving comments. But so what, it was still worthwhile!

Source: Working RE Magazine