New orders for manufactured durable goods increased $26.1 billion or 9.9% in July to $289.6 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 6.9% June decrease. Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders increased 10.4%. Transportation equipment drove the increase, $26.4 billion or 34.8% to $102.2 billion.
ABA, associations seek fixes in implementation of face-to-face requirement for borrowers in default
FHA’s proposed implementation of a new rule removing the face-to-face meeting requirement for certain mortgagees could actually increase the complexity and risk of the borrower engagement process, ABA and three associations said.