The Lede
Top National News
New Home Mortgage Applications Increase in U.S.
World Property Journal, Oct. 17, 2016
According to the Mortgage Bankers Association's Builder Application Survey for September 2016, U.S. mortgage applications for new home purchases increased 3 percent from a year ago.
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Mortgage Production Contributes to BOA’s Strong Q3 Earnings
DS News, Oct. 17, 2016--Baer, Kendall
Bank of America managed to escape the fate that befell JPMorgan Chase, Citigroup, PNC and Wells Fargo in Q3.
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MISMO Rolls Out New Collaboration Portal
National Mortgage News, Oct. 17, 2016--Passy, Jacob
The Mortgage Industry Standards Maintenance Organization has launched a new portal for collaboration and communication across the industry and updated its website.
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Explosive Growth Drives South Jersey Lender into Top 10 U.S. Mortgage Originators
Philadelphia Business Journal, Oct. 17, 2016--Blumenthal, Jeff
Freedom Mortgage Corp. moved from 320th to 9th on the list, with most of that growth coming in the past five years.
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Winners Emerging Among Battered Banks
Wall Street Journal, Oct. 17, 2016--Back, Aaron
Big U.S. banks are benefiting from a strong rebound in trading activity; competitors that pulled back from trading may not be so lucky.
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And the Worst U.S. Housing Market Is…
HousingWire, Oct. 17, 2016--Ramirez, Kelsey
...Greenwich, Conn., which has 33 months' worth of inventory.
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Weak Utilities Demand Restrains U.S. Industrial Production
Reuters, Oct. 17, 2016--Mutikani, Lucia
U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter.
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HUD Awards $500 Million to Louisiana, Texas, West Virginia Flood Areas
HousingWire, Oct. 17, 2016--Ramirez, Kelsey
Funding is provided through HUD's Community Development Block Grant--Disaster Recovery Program.
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2 Mortgage Acquisitions as 2 Firms Raise Capital
Mortgage Daily, Oct. 17, 2016--Garcia, Sam
Cousins Home Lending is being acquired by Granite Bank, according to a Sept. 28 statement.
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Implications of PHH v. CFPB Decision
Mortgage Daily, Oct. 17, 2016
The attorney who represented PHH Corp. in its lawsuit against the Consumer Financial Protection Bureau talked about the implications from last week's appellate court decision.
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Former Fifth Third Executive Sentenced
Toledo Blade, Oct. 17, 2016--Feehan, Jennifer
More than two years after a federal court jury found a former Fifth Third Bank vice president guilty of defrauding the bank and taking a kickback from borrowers, Paulette Roberts was sentenced Thursday to 30 months in prison.
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10 Challenges the Mortgage Industry Must Address Now
National Mortgage News, Oct. 18, 2016
As the industry descends on Boston this weekend for the Mortgage Bankers Association's annual convention, questions bubble to the surface regarding the challenges of the past year, and those that lie ahead.
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Supervalu to Sell Save-A-Lot Chain to Onex for $1.37 Billion
Bloomberg, Oct. 17, 2016--Serafino, Phil; Giammona, Craig; Deveau, Scott
Supervalu agreed to sell its Save-A-Lot grocery business to Canada's Onex Corp. for $1.37 billion in cash, offloading a discount chain at a time of heavy price competition.
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Industry Groups Look to Election to Jumpstart Housing Finance Reform
National Mortgage News, Oct. 18, 2016--Finkelstein, Brad
The housing industry is looking for November's election to resolve the inertia that has plagued real estate finance reform efforts during the Obama administration.
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Nonbank Lenders Fearful of Privatized Common Securitization Platform
National Mortgage News, Oct. 18, 2016--Finkelstein, Brad
If the Common Securitization Platform is turned over to a private, nonprofit entity, it could be used to give large banks control over the real estate finance process, warned an industry trade group.
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More Changes at Walter Investment: Company Adds New Chief Compliance Officer, Other Execs
HousingWire, Oct. 17, 2016--Lane, Ben
The company provided a look at how its realignment will take shape when it announced Monday evening that it is hiring three new executives.
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