The Lede

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Mortgage Applications Drop 1.8%, Despite Lowest Interest Rates Since November
CNBC, Apr. 19, 2017--Emily GaffneyTotal mortgage applications decreased last week by 1.8 percent from the previous week, according to the Mortgage Bankers Association. Total volume is down 23.5 percent from the same week last year.
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Americans Have Lodged Thousands of Mortgage Complaints with the Agency Republicans Want to Gut
MarketWatch, Apr. 19, 2017--Andrea RiquierAs the Consumer Financial Protection Bureau, an agency established in the aftermath of the financial crisis to protect ordinary Americans from bad behavior by companies, comes under fire from the Trump administration and Congressional Republicans, a new analysis shows a steady drumbeat of consumer complaints about mortgage products--especially those that touch the most vulnerable Americans.
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U.S. Bancorp Mortgage Banking Revenue Drops More than 13%
HousingWire, Apr. 19, 2017--Kelsey RamirezU.S. Bancorp's net income dipped slightly in the first quarter, due in part to the drop from the mortgage banking sector, which saw its revenues decrease more than 13% from the fourth quarter.
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Closing Times Match a Low Last Seen Pre-TRID
National Mortgage News, Apr. 19, 2017--Bonnie Sinnock (subscription)The average time to close as measured by Ellie Mae's monthly survey was shorter than it's been since 2015, when the implementation of new disclosures lengthened the timelines.
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Impac Raises $56M in Plan to Securitize Non-QM Loans
National Mortgage News, Apr. 19,2017--Brad Finkelstein (subscription)Impac Mortgage Holdings sold $56 million of its common stock as part of a plan to securitize non-qualified mortgage loans.
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Morgan Stanley Trades Its Way Past Goldman
Wall Street Journal, Apr. 19, 2017--Liz Hoffman (subscription)Morgan Stanley rode a boost in debt trading to surpass rival Goldman Sachs Group Inc. and join other big Wall Street firms in posting strong results to start the year.
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U.S. Economy Shows Only Modest Signs of Inflation Pressures: Fed
Reuters, Apr. 19,2017--Lindsay DunsmuirThe U.S. economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers, the Federal Reserve said on Wednesday.
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Feds Knew of 700 Wells Fargo Whistleblower Cases in 2010
CNN Money, Apr. 19, 2017--Matt EganThe Office of the Comptroller of the Currency admitted it failed to act on numerous "red flags" at Wells Fargo that could have stopped the fake account scandal years earlier.
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Purchase Projection Pared, Refi Forecast Lifted
Mortgage Daily, Apr. 20, 2017MBA trimmed its expectations for second-quarter purchase financing to $316 billion from $322 billion, while the third-quarter outlook was reduced o $312 billion from $325 billion.
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Buyer Sought for Agency Mortgage Kickbacks
Mortgage Daily, Apr. 19, 2017Mortgage Industry Advisory Corp, announced the offering on Wednesday. The seller is a large non-bank originator.
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Hispanic Discrimination Leads to Settlement
Mortgage Daily, Apr. 19, 2017On Wednesday, HUD announced that it reached a settlement with Brea, California-based American Financial Network.
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Monument to Wall Street Glory Becomes Just Another Mortgage Loss
Bloomberg, Apr. 19, 2017--Matt Scully, David M. LevittFormerly the U.S. trading hub for UBS Group AG, the sprawling office complex is dealing debt investors a $100 million loss years after the Swiss bank cut back its operations in the New York suburbs. AVG Partners, the private equity firm that now owns the property, has bought the defaulted mortgage in hopes of buying time to lease out the complex and, eventually, sell it.
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House Panel to Hold Hearing on Dodd-Frank Overhaul Plan Next Week
National Mortgage News, Apr. 19, 2017--Ian McKendry (subscription)The House Financial Services Committee will hold a hearing on a GOP Dodd-Frank overhaul plan next Wednesday as Chairman Rep. Jeb Hensarling, R-Texas, hopes to have a panel vote on the bill by the end of the month.
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Housing Reform Group Heads to Capitol Hill (VIDEO)
CNBC, Apr. 20, 2017Mortgage Bankers Association President and CEO David Stevens, appearing on CNBC's Squawk Box this morning, outlines the association's proposal to reform Fannie Mae, Freddie Mac and the secondary mortgage market.
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MBA Education Multifamily Property Inspection Workshop in Chicago, July 12-13
MBA Education presents its popular Multifamily Property Inspection Workshop in Chicago July 12-13.
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