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Broker Pricing, Non-QM, Lead sourcing, Tech Products; STRATMOR on Employee Culture; The Fed and Rates

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Broker Pricing, Non-QM, Lead sourcing, Tech Products; STRATMOR on Employee Culture; The Fed and Rates

By:
Rob Chrisman

7 Hours, 34 Min ago

For those attending the Western Secondary, remember, it never rains in Southern California. Except for now. Here’s one person who won’t be seeing So Cal any time soon, and dare I say, every honest person in our biz is happy when this happens. Daniela Rendon, 31, was a Miami real estate broker but was sentenced to three-and-a-half years in prison for stealing $381,000 in COVID relief funds, wire fraud, money laundering, and identity theft. Rendon probably won’t care too much about what the Federal Reserve does while she’s working in the laundry room or serving up oatmeal, but the Fed will probably restate, through Chairperson Powell speaking at the end of the week, its intent to keep interest rates high for an extended period to make sure inflation does not flare up again. In other legal and compliance news, Freedom Mortgage’s RESPA Consent Order with the CFPB is getting some attention from Mortgage Musings author and attorney Brian Levy. (Today’s podcast can be found here and this week’s is sponsored by PHH Mortgage. For over 30 years, PHH Mortgage has provided industry-leading mortgage services and helped countless homebuyers and homeowners find financing solutions to meet their needs. Hear an interview with Arrive Home’s Matt Pettit on down payment assistance programs and the push for more affordable housing.)

Lender and Broker Software and Services

If you’re in Dana Point for CMBA Western Secondary, you may be able to spot a blue whale lobtailing or a playful pod of dolphins on the water. But inside the Waldorf Astoria, there is ample opportunity for a type of spectating to help you run your business better. On Wednesday at 11 am PT, grab a seat for the engaging session, “How is Technology Providing Efficiencies in the Secondary Market.” Jay Arneja of SimpleNexus, an nCino company, will be weighing in on a wide range of technology options that can make your firm nimbler during a time of market volatility. If you can’t make the show, check out this blog on how different types of eClosings can save you $160-$440 per loan.

Nationwide Appraisal Network (NAN) is thrilled to announce that it has made the 2023 Inc. 5000 list of fastest-growing private companies in America for the fifth time. This accomplishment is a testament to its sustained commitment to excellence and growth. The Inc. 5000 recognition underscores NAN’s dedication to providing top-notch appraisal services and fostering innovation in the industry. Through its unwavering commitment to client satisfaction and technological advancement, the company is proud to have achieved this milestone for three consecutive years, demonstrating resilience and adaptability in a dynamic market landscape. “We are honored to once again be recognized on the Inc. 5000 list as we continue to grow at an extraordinary pace, even after 19 years in business. This achievement reflects the hard work of our team, and their commitment to deliver concierge-level service for our valued clients on every order” said Steve Sussman, Chief Business Development Officer.

It’s been an impressive year for Flagstar Bank, a business that now has nearly $119 billion in assets, thanks to the merger with New York Community Bank and acquisition of certain lines of business from Signature Bank. Flagstar continues to expand their products and services for their customers, further highlighting that their commitment to the mortgage space is just as strong as it has been for the last 35 years. The newest addition to the Flagstar mortgage family is the Specialized Mortgage Banking Solutions (SMBS) group. This team of seasoned financial professionals focuses on deposit gathering and customized treasury management services and products for all types of businesses connected to mortgage loans. Structured Cash Management Services from SMBS is designed to simplify and streamline operational costs and improve your cash position. At Western Secondary this week? Be sure to connect with a Flagstar team member to learn how their many offerings can help your business thrive in today’s market.

Free report: These growing borrower segments present opportunities for new business in 2023’s market. Wondering how to fill your pipeline when loan volume is scarce? New data from Maxwell gives lenders an exclusive look into home buyer groups taking on higher rates head-on. Did you know, for instance, that the share of 18 to 24-year-old borrowers has increased by 18 percent year-over-year? Now is the time to cater to these rising home buyers. For exclusive data and actionable takeaways, click here to download Maxwell’s Q2 Mortgage Lending Report.

Take Advantage of LoanStream’s Summer Specials to help you Grow that Pipeline! NON-QM Special for Purchase, Refinance & Cash-Out Programs. 50 BPS Price Improvement on all 740+ FICO Non-QM Programs (Special may not be combined with Select Non-QM Programs). Only Non-QM Special available for Correspondent. Prime Special: 35 BPS Price Improvement on Government Purchase Loans, 35 BPS Price Improvement on Government and Conventional High-Balance Purchase, Refinance and Cash-Out Loans (Specials are not available for use with DPA loans and cannot be combined together or with Select Loan Promotions. Restrictions apply. For loans locked 8/1/2023 through 8/31/2023. Visit LoanStream for more information or speak with your Account Executive.

“In this market, hustle is everything. You can’t afford to waste a single dealor a single minute. That’s why ReadyPrice has launched its innovating new Shop, Lock, & Deliver loan exchange platform, designed to help independent mortgage brokers like you save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders and all on a single platform, at no cost to brokers. It’s the industry’s most powerful universal delivery portal, and it’s already helping brokers around the country thrive and compete in even the toughest market environments. Multiple lenders. One platform. Zero b.s. Check us out today.”

STRATMOR on Employee Culture

Have you visited a Chick fil A restaurant lately? When the employes say, “It’s my pleasure,” and not just “you’re welcome,” you believe them. They seem genuinely happy to serve their customers, and their happiness makes their customers smile. Maybe the mortgage industry can learn something from this fast-food giant’s approach to employee engagement. In his August Customer Experience Tip, STRATMOR Group’s MortgageCX Director Mike Seminari addresses how lenders can build a vibrant, positive employee culture that begets a world-class customer experience. He suggests three steps lenders can take to foster an employee-prized culture that can’t help but make for a better customer experience. Check out the new Customer Experience Tip, “Happy Employees, Happy Customers: A Page From a Fast-Food Giant’s Playbook.”

Capital Markets

Stocks and bonds both fell last week as healthy economic data drove the narrative that the Federal Reserve will keep interest rates higher for longer, though prices stabilized on Friday. After settling Thursday at its highest level since November 2007, the benchmark 10-year U.S. Treasury yield fell back below 4.3 percent but still logged its fifth straight week of higher rates, once again proving that rate predictions should be taken with a grain of salt.

The steady rise in yields is making investors nervous because past surges have at times proved destabilizing for markets. With the 10-year yield still well below the level of short-term rates set by the Fed, some analysts see room for the benchmark rate to keep climbing. Bond yields continued to rise across the board, extending an upswing that began nearly three months ago at the beginning of the summer. The latest FOMC minutes, which stressed that additional interest rate hikes might be needed, nudged rates even higher. Investors are still sizing up how rising yields compare with stock valuations, but the immediate consequences might be more apparent in the housing market. LOs everywhere know that 30-year fixed-rate mortgages solidly topped 7 percent on the latest developments, marking the highest level seen in more than 20 years.

Fed Chair Powell speaks at the end of the week, and is expected to highlight some of the progress made in combating inflation but stay on script with his most recent commentary about the need to stay vigilant. Some think Powell leaves enough of a hawkish edge that the door remains open to more rate hikes. Certainly, he is likely to reiterate the Fed’s commitment to its 2 percent inflation target and to push back (implicitly or explicitly) against the degree of rate hikes that markets are pricing for next year.

As the Federal Reserve looks to restore its dual mandate of price stability and maximum employment, originators are looking at long-term mortgage rates in the U.S. reached a two-decade high. The 30-year fixed mortgage rate hit 7.09 percent, a level not seen since April 2002, crimping both sales and refinancing activity. Back then, the average U.S. home price was roughly $187,000 versus $416,000 today. Despite elevated mortgage rates, there is activity amongst potential home buyers, especially in the new home market where builders have been offering seller concessions, rate incentives, and price cuts to move inventory. New home building permits increased in July to a 930,000-unit annual pace.

And our market has taken note of troubling data out of China. This adds to the hawkish rhetoric from Federal Reserve officials and has investors rethinking the economic landscape which led to last week’s Treasury rout. That rout pushed 10-year yields close to their highest point since 2007. It has also spurred a debate over why the bond market has turned dangerous. Economic activity continues to expand and has led many analysts to shift their outlooks regarding possible contraction. However, monetary policy lags (e.g., the time it takes before central bank tightening fully works through the economy) are longer now. The reasons include fewer variable rates on U.S. debt relative to a few years ago, businesses’ reluctance to let go of workers after the pandemic shortages, and the Fed’s large balance sheet that currently contains over $8 trillion in assets.

If Fed officials think interest-rate hikes are going to impact the economy sooner than in actuality, that means the Fed is very likely to keep rates too high for too long, raising the risk of a larger-than-expected decline in growth, and eventually, inflation. Pricing in futures markets now implies that the first Fed Funds rate easing won’t come until the Spring of 2024. The minutes from the Fed’s July meeting echoed those sentiments as well as noted that upside risks to inflation remain which would necessitate further tightening. For now, the message may be as important as any action as interest rate markets resign themselves to adjust to a higher for longer mindset.

After last week closed with a rally in bond markets due to China debt and financing concerns, this week brings the Kansas City Fed’s Jackson Hole Economic Symposium over Thursday to Saturday, with Fed Chair Powell scheduled to speak on Friday. Economic data releases are mostly second tier including regional Fed surveys, housing data, durable goods orders, S&P Global PMIs, and Michigan sentiment. Supply consists of the usual T-bills, as well as $16 billion 20-year bonds, $24 billion reopened 2-year FRNs, and $8 billion reopened 30-year TIPS. With no economic releases of note scheduled today, we begin the week with Agency MBS prices worse .125-.250 and the 10-year yielding 4.29 after closing last week at 4.25 percent.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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How can you walk through any portion of the Pacific Northwest and not fall in love with its natural beauty? Oregon is the perfect place for nature enthusiasts to really get out there, and the state has it all. Volcanoes, deserts and the deepest lake in America are all within the state’s borders, but when you’re not venturing into the great wide open, what’s it like living in Oregon?

Whether in a city or a more rural location, the average cost of living in Oregon tends to sit on the higher side. All that beauty has a price apparently, and to make sure it fits into your budget, you’ll need to crunch some numbers.

Taking a look into the key areas that make up a typical cost of living can really help you gain perspective on whether or not Oregon is the right fit, financially, for you.

Oregon housing prices

While there are plenty of perfect places to live in Oregon, the overall cost of living in Oregon for housing in most of the cities is well above the national average. Housing is in high demand, especially in urban centers where you get the ability to enjoy Oregon’s natural beauty alongside all those city amenities.

Eugene

With a great cultural scene and a prime location, Eugene is where it’s at. A prime locale for college students, thanks to the University of Oregon, and nature-lovers, thanks to the Willamette River, the city is a perfect mix of activity and nature. You’re also not far from some pretty outstanding wineries. All of these pros to living in Eugene add up, though, and housing costs are 43.6 percent above the national average.

Apartment rents are on the rise as well, although two-bed units are skyrocketing compared with one-bedroom apartments. The average monthly rent for two-bedrooms is up by 83 percent over last year to $1,935. One-bedrooms are up a healthy 42 percent over last year, coming in at an average monthly cost of $1,815.

Home prices are also increasing over last year, but neither as fast or as slow as apartment rents. The median sale price for homes in Eugene is up by 11.3 percent to $480,000.

Portland

A craft-beer-lovers mecca, Portland gives off some great vibes. There’s plenty of arts, culture and nature, not to mention an amazing food scene and incomparable coffee. Plenty of job opportunities are like icing on the cake to this amazing city, but living here will cost you. Housing prices are 56.8 percent above the national average, a pretty significant increase over what you may find in other parts of the country.

Thankfully, rent prices, on average, aren’t too high and are rising slowly. One-bedroom apartments have an average monthly rent of $1,650, up only 6 percent over last year. Two-bedrooms are rising in price a little faster, up 17 percent over last year with an average monthly rent of $1,902.

The big cost hits when you want to buy a home in Portland. Prices are only up by 9.6 percent, but the median home price in Portland is $599,250.

Oregon food prices

From craft beer to Dungeness crab, there are a lot of signature foods in Oregon worth spending your grocery money on. The state produces 95 percent of the country’s hazelnuts and is one of the only producers of marionberries, which make a great fruit pie. With all these delicious items, the average Oregonian spends between $267 and $300 per month on groceries.

This average grocery tab and general food prices mean most cities in Oregon exceed the national average in costs.

  • Eugene is 9.2 percent above the national average
  • Portland is 9.4 percent above the national average

With Eugene and Portland within a very close range of each other, most grocery items have pretty close prices. For example, coffee in Eugene is almost $6.00. In Portland, it’s $6.16. If you’re buying sugar for a marionberry pie, it will cost you $3.80 in Eugene and $3.37 in Portland.

Costs between these two cities are also pretty close when you look at food prices when you’re going out. A three-course meal for two is only one dollar more in Portland than in Eugene. That makes it really easy to budget for an Oregon date night. In Eugene, the meal will cost $70 on average, in Portland, $71.

Oregon utility prices

Energy use in Oregon is less than in almost three-quarters of all the states in the U.S. This doesn’t mean that utility prices always sit below the national average, but it does mean your electric bill isn’t your highest one.

  • Portland is 7 percent below the national average
  • Eugene is 21.1 percent above the national average

A lesser need for electricity is thanks to the mild climate zones lying across Oregon. There aren’t many days here where you need to crank up the heat or the AC. Most energy used in Oregon though comes from hydroelectric power.

Oregon transportation prices

Transportation prices aside, Oregon is all about giving it up to the bike riders. Portland is the second most bike-friendly city in the country, and Eugene is fourth. There are more than 350 miles of bike lanes throughout the state, however, this isn’t the only way to get around town, and the cost of living in Oregon for transportation is more than you might think.

  • Portland is 20.9 percent above the national average
  • Eugene is 48.2 percent above the national average

This includes the combined cost of public transportation, owning a car, paying for car insurance, buying gas and general vehicle maintenance. It all adds up, so make sure you work this into your budget.

TriMet in Portland

Operating buses, light rail trains and a commuter rail, TriMet has a long list of routes to move you easily around Portland. With more than 84 bus lines, five light rail lines and a commuter rail line with five key stops, we’re not kidding when we say public transportation connects Portland.

A single adult fare is $2.50, but it’s good for 2.5 hours after you first use the pass. A single-day pass is $5, and a monthly pass, only good within that specific calendar month, costs $100.

Lane Transit District in Eugene

Servicing seven additional areas beyond Eugene, the Lane Transit District is a very thorough public transportation system. Buses take you where you want to go along 27 different routes.

A variety of passes are available, from a single-ride fare all the way up to a three-month pass. It’s $1.75 for a single ride, $3.50 for a day pass, $50 for a monthly pass and $135 for a three-month pass.

Oregon healthcare prices

Healthcare prices in our two Oregon cities are almost tied once again, both being only a tiny bit above the national average.

  • Eugene is 2.2 percent above the national average
  • Portland is 3.5 percent above the national average

This means you’ll most likely see only slight differences when comparing medical and prescription costs across the state. For example, the average doctor’s visit in Eugene is $105, but that same visit is 22 percent more in Portland with a price tag of $134.34.

Oregon goods and services prices

Calculating how much you want to spend on the cost of living in Oregon for goods and services means looking at all the things you find yourself wanting to do, but don’t have to. Goods and services are those bonus items, beyond food and shelter, you indulge in every month.

In Oregon, these types of budget items are going to cost you more than average.

  • Eugene is 6.7 percent above the national average
  • Portland is 15 percent above the national average

You can see how these differentials play out when looking at specific item costs. A six-pack of beer, for example, in Eugene is nine cents cheaper than in Portland. A burger is 30 cents less expensive in Eugene. If you want to get a newspaper subscription, you have to pay 26 cents more in Portland.

Another service that can take a chunk out of your budget is childcare. Once you need it, costs add up. Unlike the other goods and services here, you’ll see a glaring difference in costs between Eugene and Portland when it comes to the monthly costs of paying for a full-day, private preschool. In Eugene, it’ll cost you $716.67. In Portland, the same service costs $1,400.

Taxes in Oregon

There’s no sales tax in Oregon (yay,) but income taxes here are higher than the national average. It’s a graduated rate ranging from 4.75 percent to 9.90 percent, so the more you make, the more you pay.

Although getting taxed like this on your income isn’t fun for anyone, there’s no markup to cover the cost of sales tax when you’re out shopping. What you pay goes totally to the shop, and prices are most likely a little lower.

How much do I need to earn to live in Oregon?

When calculating how much money you need to live somewhere, start with rent. It’s your biggest monthly expense and shouldn’t exceed 30 percent of our income. With that in mind, the minimum salary you need to make in Oregon is $80,000. This will get you an apartment for $2,000 per month, the average rent in the state.

This is all good to know since the average Oregon salary is $92,300. These numbers tell us that you’ll most likely be able to afford a place a little above average but to get the numbers exact, make sure to use our rent calculator.

Living in Oregon

Oregon is an easy-going and hospitable state full of laid-back and friendly people. It has a very specific vibe, and if it’s what you’re looking for, it’s time to consider making the move. To start, though, you’ll need to make sure the cost of living in Oregon fits into your budget. It’s not a cheap place, so look at how the cost of living compares in different cities to help you target exactly where you should move to.

Related articles:

The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

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The economic picture keeps changing, and so does the outlook for mortgage rates.

As recently as June, many experts expected the U.S. economy to fall into recession this year, and mortgage rates to dip back into the 5 percent range.

The economic reality has played out much differently. Mortgage rates are still close to 7 percent, and with the Federal Reserve resuming rate hikes at its July 26 meeting, housing economists expect them to hold steady for now — that is, rates might move up or down slightly, but they’re unlikely to fall substantially.

“I do not see much change from the current 6.5 percent to 7 percent range in August,” says Lawrence Yun, chief economist at the National Association of Realtors.

The primary driver of mortgage rates this month: inflation, and anticipation of how the central bank will react to the price picture.

What happened to mortgage rates last month

Mortgage rates were quite volatile in 2022, surging past 7 percent far faster than anyone predicted. They calmed some in 2023, with the average rate on a 30-year fixed loan at 6.95 percent as of July 5, according to Bankrate’s weekly national survey of lenders. Rates bounced around a bit throughout the month but barely changed overall, reaching 6.98 percent in the final survey taken in July.

Not long ago, mortgage experts were calling for rates to fall all the way to the low-5 percent range this year. Instead, the resilient economy means mortgage rates have held strong.

“Mortgage rates are remaining above levels we anticipated earlier this year as inflation pressure has persisted and consumer spending remains robust,” says Selma Hepp, chief economist at CoreLogic, a real estate data and analytics firm.

At the point where core inflation gets better, mortgage rates will too.
— Greg McBride, Bankrate chief financial analyst

The driver rate watchers are looking at now

The major factor moving mortgage rates is inflation, and what the Federal Reserve will do at its September meeting.

In June, the official inflation rate cooled to 3 percent. That was well below the 2022 peak of 9.1 percent, but it’s still above the Fed’s official target of 2 percent. As a result, the Fed resumed rate increases at its meeting in July.

“If inflation data show that price pressures are easing, particularly at the core level, that will keep a lid on mortgage rates,” says Greg McBride, Bankrate’s chief financial analyst. “But without that, there just isn’t much of a catalyst for any meaningful pullback in mortgage rates when the economy is doing well enough to warrant more Fed rate hikes.”

While the Fed doesn’t directly control mortgage rates, its moves set the overall tone for borrowing costs. In his July 26 news conference, Fed Chairman Jerome Powell said further rate increases are a possibility. “We’re prepared to further tighten if that is appropriate,” Powell told reporters.

Like Powell, Yun will pay close attention to the Consumer Price Index (CPI) reports scheduled for release in early August and early September.

“The next Fed meeting occurs after two months of CPI figures,” says Yun. “Much calmer inflation will stop the Fed from raising rates, with hints of a rate cut next year.”

Yun sees mortgage rates falling to 6 percent by the end of 2023 — a view shared by Bob Broeksmit, president and CEO of the Mortgage Bankers Association.

“Rates will remain volatile in the coming months but will fall to around 6 percent by the end of this year,” says Broeksmit.

Another wildcard is the overall angst among investors and lenders — uncertainty that is showing up in the gap between 30-year mortgage rates and their closest proxy, the 10-year Treasury yield.

This interval, known to economists as “the spread,” typically runs between 1.5 and 2 percentage points. If the 10-year yield sits at 4 percent, for example, the 30-year fixed mortgage rate should track close to 6 percent.

However, the spread has jumped to more than 3 percentage points — the highest level since the scary days of 2009, according to Bankrate research.

What the rate picture means for homebuyers, sellers

While the housing market has cooled in recent months, a crash doesn’t seem imminent.

Instead, home prices have held steady as demand for properties continues to outpace the supply of homes for sale. The National Association of Realtors says the median home price in June topped $410,000, the second-highest monthly reading on record.

That’s good news for sellers, not so good for buyers. Buyers have little choice but to accept the market’s new reality. Mortgage rates are unlikely to fall, says Erin Sykes, chief economist at Nest Seekers International, a real estate brokerage.

“I expect mortgage rates to more or less stay stable though the rest of the year,” says Sykes. “Watching rates on a daily basis is like waiting for a pot to boil. Small adjustments in rates should not affect your motivation to purchase a home.”

Source: bankrate.com

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If you purchase an independently reviewed product or service through a link on our website, SheKnows may receive an affiliate commission.

Is there anything more exciting than cruising the clearance aisle at Target? The answer is yes: shopping stuff from Joanna Gaines’ Hearth & Home with Magnolia line in the clearance aisle! Some of the star’s most popular wares have been marked down to as low as $5 on Target’s website, and they include all the materials and textures we live for. 

Our six top picks embody the best this line has to offer: stoneware and acacia wood kitchen items, cotton pillows, copper accessories and even faux foliage to liven up every room, for instance. Go ahead and invite some elevated farmhouse flare into your home this fall — all on a budget.

Our mission at SheKnows is to empower and inspire women, and we only feature products we think you’ll love as much as we do. Target is a SheKnows sponsor, however, all products in this article were independently selected by our editors. Please note that if you purchase something by clicking on a link within this story, we may receive a small commission of the sale.

A Cozy Cotton Pillow with a Distressed Finish

Target

A mottled texture helps give the colors on this 18″x18″ Vertical Texture Stripe Square Throw Pillow a lived-in look straight out of the box. Its cotton cover is certified free of toxins and comes off so you can pop it in the wash.

Vertical Texture Stripe Square Throw Pillow

$16.99 $19.99 15% Off

Copper Lanterns to Flank the Fireplace

Target

Give the fireplace a rustic glow or create a candlelit scene throughout the room: these Copper Lanterns will do the trick. Aside from being cute as heck, they’re a cinch to carry, and switching out the candles is quick and easy. 

Raised Metal & Glass Pillar Candle Lantern Copper

$Starting at $25.49 $29.99 15% Off

A Rich Wooden Stand to Elevate Your Cake

Target

Let’s add one more rustic material to this Hearth & Hand with Magnolia lineup: the beautifully sustainable acacia wood. That’s what gives this 13-inch Cake Stand its deliciously grainy appeal. “Looks beautiful on my credenza, some led candles on top of it with a some greenery,”wrote a creative shopper.

Related story

Blake Lively Shouted Out This $5 Glossy Lipstick That Shoppers Say Turned Their ‘Aging Lips Into Subtle Moist Young Lips Again’


$16.99 $19.99

11″ Wooden Cake Stand

$16.99 $19.99 15% Off

A Rustic Creamer That’s Too Cute

Target

Ah, stoneware — the table-setting material that brings a kitchen from good to great. This Stoneware Cream Cellar is adorable to break out while entertaining or just  enjoying your morning coffee, and it’s dishwasher and microwave-safe. 

Stoneware Cream Cellar

$5 $6 17% Off

Something Soothing to Wrap Yourself Up In

Target

There’s something so satisfying about curling up with a good book and a comfy throw. The lightweight, yellow and white Block Plaid Woven Throw Blanket is made of non-toxic fabric that’s also machine washable.

Stitched Block Plaid Woven Throw Blanket

$25.49 $29.99 15% Off

A Leafy Wreath for a Warm Welcome

Target

This Faux Seeded Eucalyptus with Berry Wreath is the epitome of fall beauty. Give it pride of place on your front door, then forget about it: the beauty of faux foliage. “It actually exceeded my expectations. It take all of 5 minutes to fluff and I’m impressed by how full it looks,” wrote a five-star reveiwer.

Faux Seeded Eucalyptus with Berry Wreath

$29.74 $34.99 15% Off

Source: sheknows.com

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“Barbie” is coming to streaming services. Greta Gerwig’s hit movie, which broke records both at the box office and created viral trends in the fashion and beauty industry, will be available on digital platforms on Sept. 5, according to Variety.

The film, which came out July 21, stars Margot Robbie as Barbie, alongside Ryan Gosling, America Ferrera, Kate McKinnon, Simu Liu, Issa Rae and more portraying the fellow citizens of Barbieland. Upon its release, the movie broke a number of records, bringing in $155 million on its opening weekend and becoming the biggest film debut in history for a woman director.

From left: Ryan Gosling and Margot Robbie in “Barbie.”

©Warner Bros/Courtesy Everett Collection

The film had sales of $537.4 million at the U.S. box office and is now Warner Bros.’ highest-grossing domestic release — the former title holder was Christopher Nolan’s “The Dark Knight,” which made $536 million at the U.S. box office in 2008. Overall, “Barbie” has amassed more than $1 billion at the box office worldwide so far.

How to stream the “Barbie” movie at home?

Starting Sept. 5, the “Barbie” movie will be available to stream on Prime Video and AppleTV+. The movie is currently available to preorder on Prime Video for $24.99.

In addition, the “Barbie” movie is currently available for preorder on Blu-ray and DVD at Walmart ($24.96), Amazon ($24.96) and Target ($26.99).

Although it’s not confirmed yet, based on previous Warner Bros. movies, “Barbie” will likely be available to stream on Max later this year.

Margot Robbie as Barbie and Ryan Gosling as Ken in “Barbie.”

Warner Bros.

Barbie Mania

Joining the fever created by the “Barbie” movie, a number of brands collaborated with Mattel on Barbie-themed collections, which made the fashion and beauty industry a lot more pink. Vans, Fossil, Boohoo, Pacsun, Crocs, Gap and Aldo are among the multitude of brands that have released Barbie collections.

Related Articles

Zara was one of the latest retailers to announce a Barbie collection, which featured home decor, accessories and even Ken-printed boxers. In alignment with the collection, the clothing chain also hosted a series of “Barbiefied” pop-ups at its New York City and Paris store locations, with life-size fitting rooms and vending machines that rotate products.

Source: wwd.com

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Bank of America (BofA) prevailed in a court case brought against it by Cook County, Illinois, which sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago area. The news was first reported by Bloomberg Law.

Cook County initially sued BofA and other banks in 2014, alleging that the company had violated the Fair Housing Act in making credit too easily available to borrowers in the Chicagoland area with mortgages the county described as “unchecked or improper.”

When the borrowers could not repay these mortgages, the county alleged that it was hurt as a result of vacant properties and lost taxes and fees.

When the District Court of Northern Illinois sided with Bank of America in the 2014 case, Cook County appealed to the Court of Appeals for the Seventh Circuit. This week, that court affirmed the lower court’s decision and sided with BofA, finding that Cook County was “at best a tertiary loser” — with its injury deriving from the injuries to the borrowers and banks —and not the proper plaintiff.

The Fair Housing Act only provides relief for more immediate injuries, according to Judge Frank H. Easterbrook in his decision cited by Bloomberg Law. Cook County, the judge said, was too far removed from the alleged predatory lending scheme to be considered the proper plaintiff.

“The banks are secondary losers, for they did not collect the interest payments that the borrowers promised to make and often did not recover even the principal of the loans in foreclosure sales,” Easterbrook wrote in his published opinion.

Circuit Judge Kenneth F. Ripple wrote in a concurring opinion that the dismissal should be affirmed due to an exclusion of testimonies from two expert witnesses called by Cook County. Without them, two of the three county claims against BofA had less merit, but the lower court was appropriate in its exclusionary discretion because it found the statements of the witnesses unreliable Ripple wrote.

The presence of an alleged scheme was also not supported, he said.

“As the district court explained, the record does not support the County’s suggestion that the defendants engaged in a coordinate scheme to target minority borrowers for loans that they could not afford in order to provoke defaults and foreclosures,” Ripple wrote.

Source: housingwire.com

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The Housing Policy Council (HPC) is urging the Federal Housing Finance Agency (FHFA) to modify its proposed government-sponsored enterprises (GSEs) single-family pricing framework, including coordination with banking regulators to streamline capital requirements and retention of upfront guarantee fees.

The original request for input published in May was designed to gather public feedback on goals and policy priorities the agency should pursue in its oversight of the pricing framework. FHFA also sought input on the GSEs’ single-family upfront guarantee fees and whether to continue linking those fees to the Enterprise Regulatory Capital Framework (ERCF).

HPC, in its comment letter, expressed support for the ERCF, suggesting the agency also require pricing levels that will let enterprises earn target rates of return over a reasonable period of time.

The Council also noted that the RFI did not address the financial benefits and operating advantages that Fannie Mae and Freddie Mac derive from their government-sponsored status.

The enterprises, said HPC, “are advantaged by a lower cost of debt financing and a lower cost of capital.” A borrower subsidy, HPC argues, is directly descended from such charter privileges enjoyed by the GSEs.

HPC also suggested that FHFA retain upfront guarantee fees, since it sees those fees as a critical post-financial crisis safety and soundness reform measure. FHFA, it noted, should continue to calibrate risk-based pricing to the ERCF. Meanwhile, the cross-subsidization model is not working as intended and actually contributed to GSEs’ failure in the run-up to the 2007-08 financial crisis, the Council said.

The ERCF, which was established in 2020, has a “significant impact on the risk-based pricing component of the enterprises’ guarantee fees,” the FHFA said in its May RFI. The FHFA began using the ERCF to measure the profitability of new mortgage acquisitions in 2022.

FHFA Director Sandra Thompson said the RFI was issued to increase transparency.

“FHFA seeks input on how to ensure the pricing framework adequately protects the enterprises and taxpayers against potential future losses, supports affordable, sustainable housing and first-time homebuyers, and fosters liquidity in the secondary mortgage market,” she said.

Source: housingwire.com