As I noted in a recent column, the residential servicing business is about to get a lot more interesting — especially in the wake of Basel III deciding that mortgage servicing rights can only count for 10% of capital. (Regulators are allowing for a multi-year phase-in period.) Anyway, rumors are starting to spread that a large "outside" player is eyeing a major splash into MSRs with a goal of eventually amassing $500 billion in servicing rights. We shall see…
The serial entrepreneur, who also created Rapid Reporting and American Transfer & Trust, plans to remain active in industry causes, a LinkedIn post said.
Almost 45% of buyers received a seller concession this summer, while more than 15% saw a reduction in the asking price to go along with it, according to Redfin.
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
The Securities and Exchange Commission said Rule 14a-8 exceeds its statutory authority and intrudes on matters of state law. Shareholder advocacy groups, however, argue that repealing the rule could reduce transparency.
Brian Johnson's nomination to lead the Consumer Financial Protection Bureau advanced to the full Senate Thursday morning in a party-line vote.
