The Lede
Top National News
Mortgage Rates Edge Higher But Remain within a Narrow Band
Washington Post, May 11, 2017--Kathy OrtonThe 30-year fixed-rate mortgage rate ticked up to 4.05 percent with an average 0.5 point tis week compared to 4.02 percent a week ago.
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Keeping Mortgage Giants Fannie and Freddie Under Government Control is Increasingly Risky, Regulator Says
MarketWatch, May 11, 2017--Andrea RiquierThe conservatorship that's ensnared Fannie Mae and Freddie Mac ever since the financial crisis is increasingly unsustainable, warned the director of the mortgage giants' regulator on Thursday.
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AIG Plans to Name Brian Duperreault as Next CEO
Wall Street Journal, May 11, 2017--Joann S. Lublin, Leslie Schism (subscription)American International Group Inc. plans to name Brian Duperreault-a onetime lieutenant to former CEO Maurice R. "Hank" Greenberg-as the firm's chief executive officer.
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Urban Institute: Demand for Institutional SFR Financing Will Grow
HousingWire, May 11, 2017--Kelsey RamirezEarlier this year, Fannie Mae backed Blackstone's Invitation Homes' $1 billion single family rental debt. Now, many are beginning to speculate over the GSE's future moves in the SFR market.
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Hedge Funds Are Facing a U.S. Criminal Probe Over Bond Valuations
Bloomberg, May 11, 2017--Matt Robinson, Christian Berthelsen, Chris Dolmetsch, Matt ScullyU.S. prosecutors are investigating one of Wall Street's darkest markets, focusing on hedge funds suspected of inflating the value of debt securities in their portfolios to juice the fees they collect.
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U.S. Labor Market Tightening; Inflation Pressures Building
Reuters, May 11, 2017--Lucia MutikaniNew applications for U.S. jobless benefits unexpectedly fell last week while producer prices rebounded strongly in April, pointing to a tightening labor market and rising inflation that could spur the Federal Reserve to raise interest rates in June.
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Mortgage Bankers Bump Q2 Refi Forecast
Mortgage Daily, May 11, 2017The Mortgage Bankers Association, which made the predictions in its MBA Mortgage Finance Forecast, raised the current quarter's projection from $459 billion expected in its April outlook.
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Conditions Ripe for Rise in Millennial Homebuying
Detroit Free Press, May 11, 2017--Susan TomporWhile millennials aren't likely to do things the way their parents did, it's increasingly becoming clear that they aren't going rent or live in their parents' basements forever, either.
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Long-Term Mortgage Rates Rise, Likely to Hold
Mortgage Daily, May 11, 2017--Sam GarciaLong-term rates on new single-family loans moved higher over the past week. But no changes are likely next week.
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RBS CEO Sees Potential to Settle Major U.S. Mortgage Probe
Reuters, May 12, 2017--Andrew MacAskillRoyal Bank of Scotland Chief Executive Ross McEwan said the bank is in talks to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed securities that it needs to overcome before the British government can sell its shares in the bailed-out bank.
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Freddie Mac Explores Credit-Risk Transfer Idea to Gain more REIT Investors
HousingWire, May 11, 2017--Brena SwansonFreddie Mac announced it's contemplating making a change to the structure of its Structured Agency Credit Risk transactions in order to try and gain more investors.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Appraisal Webinar Series Continues May 15
MBA Education and the Appraisal Institute present the second in a four-part webinar series on Appraisals on Monday, May 15.
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Today in MBA Insights
In today's issue of MBA Insights: MBA Past Chairman Bill Cosgrove, CMB, led an executive panel discussion at the recent MBA National Secondary Market Conference & Expo on a wide variety of topics, including industry regulation, the future of securitization and technology.
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