The House and Senate were in recess and return this week. And, although the Federal Reserve held interest rates steady at its May meeting this past Wednesday, the Fed's Federal Open Market Committee did acknowledge inflationary pressure, which signals future interest rate hikes are coming.
U.S. Job Growth Picks Up; Unemployment Rate Drops to 3.9 Percent
Reuters, May 4, 2018--Lucia Mutikani
Drop in Nonbank Mortgage Employment Erases Earlier Gains
National Mortgage News, May 4, 2018--Bonnie Sinnock (subscription)
Robert Klein, Founder and Chairman of Safeguard Properties, Dies at 65
Cleveland Plain Dealer, May 4, 2018--Michelle Jarboe
Wells Fargo Agrees to Pay $480 Million to Shareholders to Settle Fake Accounts Suit
HousingWire, May 4, 2018--Ben Lane
Fidelity National's Earnings Rise as Title Orders Increase
National Mortgage News, May 4, 2018--Brad Finkelstein (subscription)
Mortgage Lenders are Making it Easier for You to Buy a House. But Are They Repeating Last Decade's Mistakes?
Philadephia Inquirer, May 4, 2018--Caitlin McCabe
Mortgage Compliance is About More than Keeping Regulators Happy
National Mortgage News, May 4, 2018--Brian Fitzpatrick (subscription)
Banks are Working to Woo New Doctors into Home Mortgages
CBNC, May 5, 2018--Helen Zhao
New York's Storied Plaza Hotel Is Set to Sell for $600 Million
Bloomberg, May 4, 2018--Gillian Tan
Weekly Mortgage Biz Rises, ARM Share Balloons
Mortgage Daily, May 4, 2018
The More Bathrooms, the Better
UExpress, May 4, 2018--Lew Sichelman
MBA Chart of the Week: Percent of IMBs with Pre-Tax Net Income
In April, MBA Research released its Annual Performance Report containing 2017 data. Including all business lines, 80 percent of the 253 independent mortgage bankers in the study posted pre-tax net financial profits in 2017, down from 94 percent in 2016.
MBA Welcomes 36 New Members in February, March
The Mortgage Bankers Association welcomed 36 new regular members to its ranks, which currently numbers more than 2,300 member companies.
The Week Ahead
The Mortgage Bankers Association's Legal Issues and Regulatory Compliance Conference is underway in Los Angeles, running through Wednesday, May 2.
Retail Sector Weakens As Brick-and-Mortar Fundamentals Slip
The retail sector's long and slow recovery, already well behind other commercial real estate sectors, is definitively sputtering to a halt, reported Ten-X, Irvine, Calif.
Dealmaker: Continental Partners Secures $21M for Office, Retail
Continental Partners, Los Angeles, secured $9.2 million for a Class A office and retail property in Orange County submarket Tustin, Calif.
MBA National Secondary Market Conference & Expo May 20-23
The Mortgage Bankers Association' National Secondary Market Conference & Expo returns to the Marriott Marquis in New York May 20-23.
MBA Mortgage Action Alliance Action Week May 14-18
MAA Action Week is an annual week-long event dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry.
MBA Education Checklist for Effective Compliance Management Systems Webinar May 15
MBA Education presents a new webinar, A Checklist for Effective Compliance Management Systems, on Tuesday, May 15 from 2:00-3:30 p.m. ET.