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Non-QM, Document Products; News From FHA, VA, HFAs; Compass and API

Posted To: Pipeline Press

How often do you buy candles at retailer Pier 1? Me neither. Due to poor earnings Pier 1 Imports announced it will close another 45 stores (up to 150 if certain targets are not met). Sometimes reporters are prone to sensationalizing things (watch the folks in the background) but one thing that doesn’t need to be sensationalized are recent statements by Federal Reserve officials suggesting they are looking to determine the appropriate conditions for introducing an interest-rate cut, though one is not believed to be imminent. Federal Reserve Bank of Chicago President Charles Evans stated last week that a prolonged period of inflation below 2% would imply that "our setting of monetary policy is actually restrictive, and we need to make an adjustment down in the funds rate." Lender Products...(read more)