Trump Nominates New CFPB Head On Heels Of Probationary Employee Terminations

Trump Nominates New CFPB Head On Heels Of Probationary Employee Terminations

The Trump administration has nominated Jonathan McKernan for director of the Consumer Financial Protection Bureau. If confirmed, McKernan, a former board member at the Federal Deposit Insurance Corporation, would head the CFPB over a five-year term. He previously served as senior counsel at the Federal Housing Finance Agency and as an aide to former Tennesee…

Applications Increase Again On Refi Strength

Applications Increase Again On Refi Strength

Mortgage applications increased again, buoyed by refinance strength as purchase demand remained constrained. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — ticked up by 2.3% last week, adding to the week prior’s 2.2% increase. Adjusted purchase applications slipped by 2%, while…

Matthew Gallant Joins MBA As Director of Member Relations

Matthew Gallant Joins MBA As Director of Member Relations

Matthew Gallant joined the Mortgage Bankers Association as Director of Member Relations, the association announced in a press release. In his new role, Gallant will oversee MBA’s portfolio of residential member companies in the Northeast, focusing on member engagement and identifying opportunities for MBA to better support their businesses. He brings more than a decade…

Scott Turner Confirmed As HUD Secretary

Scott Turner Confirmed As HUD Secretary

Former NFL player Scott Turner has been confirmed as the 19th Secretary of the U.S. Department of Housing and Urban Development. He was sworn in by Justice Clarence Thomas on Wednesday. “On President Trump’s first day in office, he signed an executive order to lower the cost of housing and expand housing supply. As Secretary, I…

Refis Rise In Response To Rate Cooldown

Refis Rise In Response To Rate Cooldown

Mortgage applications saw a boost as rates fell on tech stock uncertainty and the FOMC’s decision to hold. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 2.2% last week, reversing the week prior’s 2% dip. Rates fell from 7.02%…

Applications Fell After Trump’s Inauguration

Applications Fell After Trump’s Inauguration

Mortgage applications slipped in the wake of President Donald Trump’s inauguration. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — decreased by 2% last week after stagnating the week prior. The data includes an adjustment for the Martin Luther King holiday. Rates…

MBA Promotes Megan Booth To Commercial/Multifamily Policy VP

MBA Promotes Megan Booth To Commercial/Multifamily Policy VP

Megan Booth has been promoted to VP of Commercial/Multifamily Policy for the Mortgage Bankers Association. In her new position, Booth will spearhead the development and execution of policy objectives and goals, while leading federal and state regulatory issues pertaining to commercial real estate finance. “Megan is a recognized policy expert who consistently delivers for MBA…

Applications Stagnant Ahead Of Inauguration

Applications Stagnant Ahead Of Inauguration

Mortgage applications were basically stagnant last week despite a bump in purchase volume. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by just 0.1% last week, effectively stalling after a 33.3% jump the week prior. Though buyers have made moves…

Purchase, Refi Applications Both See Boost

Purchase, Refi Applications Both See Boost

Mortgage applications skyrocketed last week as both buyers and homeowners locked in rates before they moved any higher. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 33.3% last week, reversing a 3.7% dip the week prior. This is despite…

Applications Sink On Unaffordability, Holiday Slowdown

Applications Sink On Unaffordability, Holiday Slowdown

Mortgage applications sank last week as the holiday slowdown collided with rising rates. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 3.7% last week. The data includes an adjustment for the New Year’s holiday. Rates rose a fourth consecutive time,…

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