News
ALTA News You Can Use Headlines and news from various media sources, keeping you “in the know” about issues impacting business and the real estate and mortgage markets.
- More Americans Tried for Mortgage Loans in February, NY Fed Report Findson March 19, 2024 at 7:32 am
Americans applied for mortgage credit in greater numbers over recent months even as they faced greater headwinds in getting those loans, new data from the Federal Reserve Bank of New York released Monday said.
- White House Push to Scrap Title Insurance Sparks Probe, Bipartisan Pushbackon March 19, 2024 at 7:18 am
The push to scrap title insurance on certain loans sold to Fannie Mae and Freddie Mac is part of a slate of proposals the White House has unveiled to make housing more affordable. Three Republicans on the House Financial Services Committee on Friday warned FHFA Director Sandra Thompson that they were planning to investigate. Additionally, Rep. William Timmons (R-S.C.) said officials were right previously shelving the misguided pilot, but “less than a year later the White House has apparently pressured FHFA—an independent financial regulator—to reinstate this risky program in order to enrich President Biden’s allies and score political points. Fannie Mae has no place in the title insurance market and neither does President Biden.” (Note: This article requires a subscription.)
- What Happens in a Cyberattack? Experts Discuss Incident Responseon March 19, 2024 at 7:01 am
Over the past few months, cybercriminals have been attacking mortgage players at an alarming rate. Major companies like Loandepot and Mr. Cooper are reeling financially from recent incidents, while businesses continue to battle lawsuits from affected customers.
- Homebuilder Sentiment Turns Positive for the First Time Since Julyon March 19, 2024 at 6:50 am
U.S. homebuilders are feeling more confident about their businesses than they have since last summer, as they see better demand despite stubbornly high mortgage rates. Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells Fargo Housing Market Index. The reading gained for the fourth-straight month, hitting its highest level since July.
- Federal Reserve May Signal Fewer Interest Rate Cuts in 2024 After Strong Inflation Reportson March 19, 2024 at 6:40 am
After tumbling last fall, inflation has remained stubbornly elevated this year. The split-screen picture raises a pointed question for the Federal Reserve: Is the recent flare-up a blip or the beginning of a tougher slog in its two-year inflation fight?