The Lede
Top National News
Money Is Pouring Into Property Deals Banks Won’t Touch
Bloomberg, Sept. 19, 2016--Mulholland, Sarah; Perlberg, Heather
Heightened commercial real estate lending scrutiny paves the way for lightly regulated investors to gain a bigger toehold in lucrative deals.
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The Federal Reserve Confronts a Possibility it Never Expected: No Exit
Washington Post, Sept. 19, 2016--Mui, Ylan Q.
Instead of executing its stimulus exit strategy--raise interest rates and shrink its balance sheet--the Federal Reserve is confronting the possibility that its temporary economic recovery measures will remain in place indefinitely.
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S&P Real Estate Sector Rises in First Day of Trading
CNBC, Sept. 19, 2016--Imbert, Fred
There's a new sector in the closely followed S&P 500, and it's off to a good start.
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Mortgage Rates: Why The Fed Won’t Raise Interest Levels
OurBroker.Com, Sept. 19, 2016--Miller, Peter G.
On Wednesday the Fed will announce whether or not it will raise bank rates. Here's a clue: It won't.
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Democratic and Republican Party Platforms Set Out Housing Policy
GoRion, Sept. 19, 2016--Curry, Kerry
The presidential candidates haven't said much about housing or mortgage finance on the campaign trail but housing has always been a fundamental plank of each party platform.
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MBS Issuance at All-Time High at Ginnie Mae
Mortgage Daily, Sept. 19, 2016
$48.4 billion in MBS issuance during August.
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Fannie Raises Refi Forecast, Cuts Purchase
Mortgage Daily, Sept. 19, 2016
Q3 total mortgage production projected at $519 billion.
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Lenders Have Adjusted to New Mortgage Rules: CFPB
National Mortgage News, Sept. 19, 2016--Collins, Brian
MBA President and Chief Executive David Stevens said that a lot of the CFPB rules required by the Dodd-Frank Act have been implemented. "They are working well. Homeownership is expanding," he said.
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GSEs to Raise Conforming Loan Limits in 2017?
HousingWire, Sept. 19, 2016--Ramirez, Kelsey
FHFA housing price index at 2007 levels, which could trigger an increase.
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PHH Mortgage to Lay Off 91 at Location in Amherst
Buffalo News, Sept. 19, 2016--Glynn, Matt
The cuts represent 31 perent of its workforce outside Buffalo.
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Renting Still Cheaper Than Owning In Major U.S. Markets, Despite Low Mortgage Rates
The Street, Sept. 19, 2016--Morrissey, Janet
Average monthly cost of owning a home is 28% higher than renting in major U.S. markets, according to a report by Robert W. Baird & Co.
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Xenith Bank to Quit Mortgage Business, Citing Compliance Costs
American Banker, Sept. 19, 2016--Kellard, Joseph
Will sell certain assets to Cornerstone Home Lending.
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Holding Off: Why High-Mortgage-Rate Loans Aren’t Being Refinanced
DSNews, Sept. 19, 2016--Honea, Brian
CoreLogic found that 41 percent of mortgages, representing 31 percent of the outstanding unpaid principal balance, have mortgage rates greater than 4.38 percent.
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Wells Fargo’s John Stumpf Takes Center Stage at Senate
Wall Street Journal, Sept. 20, 2016--Borak, Donna; Carney, John
The Wells Fargo chief executive will testify before the Senate Banking Committee.
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GSE Reform Should Follow Ginnie Mae Model: Tozer
National Mortgage News, Sept. 19, 2016--Sichelman, Lew
Next administration must act swiftly to move reform of Fannie Mae and Freddie Mac off dead center, and Ginnie Mae President Ted Tozer suggested that the model for a new secondary market is already in place.
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U.S. Bancorp: Millennials Concerned they Can’t Save for a Home
HousingWire, Sept. 19, 2016--Ramirez, Kelsey
Student debt will delay homebuying for more than five years for most.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Premier Member Profile: Dart Appraisal
(One in a continuing series of Premier Members of the Mortgage Bankers Association.)
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MBA Education Budgeting and Financial Planning for Non-Believers Sept. 21
Webinar Explores Importance of Budgeting in Mortgage Industry
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