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Mojo - January 2014
Mojo - January 2014 If Ohio enacts the bill, it will join a number of other states that have done so in the last year: Arkansas, Colorado, Florida, and Illinois. He "would do well to take time from his fundraising schedule to meet with families in District One and

People in Business for Jan. 19, 2014
He'll provide support and direction to real estate lenders and their assistants in the Livingston, Helena and Bozeman markets. Hennessy has more than 20 years experience in mortgage lending and joined First Interstate two years ago as secondary market 

Will Obama push housing reform in SOTU Not expected this year, but ...
'We would welcome the White House's engagement in the GSE debate, particularly on the issue of bringing private capital back to the secondary mortgage market through ideas such as up front risk sharing,' said Dave Stevens, head of the Mortgage Bankers

New Loan Safeguards Leave Path for Higher-Risk Borrowers
A "For Sale" sign stands in the yard of a single family home in Denver, Colorado. The Read More. A "For Sale" Now, as regulators tighten mortgage rules and big banks resist lending to riskier middle-income Americans, HFAs across the U.S. are

Foreclosed Homes for Sale Perto Rico Vega Baja Casas Reposeidas Vega Baja FNMA Foreclosed Home #P090655. This is a home located in a great area and community. Off state road #2 ...

Bankers' Hours column: You don't need help with a certificate of deposit

You may have seen the ads that promote, say, a 4 or 4 1/2 rate on a short term certificate of deposit insured by the FDIC. It's particularly puzzling, because you just checked, and maybe 1 percent was the best you could get at your bank.

Wow! So, how can a bank do that? Well, the answer is, it can't. Or, accurately, it won't. The company that placed the ad is using an old but very successful marketing ploy. Offering a gift to get a potential customer to listen to a sales pitch.

One the big players in this particular arena bills itself as an investment adviser, dealing in annuities, insurance and "brokering insured deposits." In the latter instance, their promotional material claims that they can get higher rates for a depositor through their sophisticated research, that the volume of deposits they generate compel financial institutions to pay higher rates to their clients, and that banks that take high a high volume of brokered deposits are on the high end of the safety and soundness chart.

New life in US housing market not evident in big bank results

Have also reported mortgage banking revenue declines of 19 percent to 41 percent.

Starting in 2009, banks began to benefit from a surge in mortgage refinancing, thanks to rock-bottom interest rates and federal programs to help struggling borrowers. That activity has been trailing off as rates have started to rise and many borrowers who sought lower rates have already gotten fresh loans.

It will be difficult to make up for lost refinancing volumes, even though the market for home purchases has been improving, analysts said.

New and existing home sales rose in May while prices reached all-time highs, according to federal housing data and the National Association of Realtors (NAR). Weekly mortgage applications shot to a seven-year high at one point during the quarter, according to data from the Mortgage Bankers Association. NAR predicts new single-family home sales will rise 8.4 percent this year.

Those improvements in the market may continue for some time, analysts said, since mortgage rates remain low by historical standards and young American millennials have only recently begun to enter the housing market. But banks' mortgage businesses will only show improvements as comparisons with a previous year become easier, they said.