The Lede
Top National News
Mortgage Rates Ease for Second Consecutive Week, Third Time Since January
Washington Post, Apr. 5, 2018--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slid to 4.40 percent with an average 0.5 point. It was 4.44 percent a week ago and 4.10 percent a year ago.
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Commercial Property Outlook Remains Positive
Scotsman Guide, Apr. 5, 2018--Victor WhitmanThe commercial real estate market ended 2017 on a strong note, and the prospects for a stable 2018 remain high, according to the Mortgage Bankers Association.
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Wells Fargo Plans to Integrate Corporate, Investment Banks
Wall Street Journal, Apr. 5, 2018--Emily Glazer (subscription)The bank's plans, which could lead to layoffs in the future, will affect some industry coverage groups, advisory teams, equity and debt capital markets origination and certain corporate-banking relationship managers.
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The Struggle in Locking Condominiums in the Mortgage Industry
HousingWire, Apr. 5, 2018--James DawkinsWhen you have an investment residence condo, it's important to pay close attention before locking the loan.
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Consumer Bureau’s Chief Gives Big Raises, Even as He Criticizes Spending
New York Times, Apr. 5, 2018--Stacy CowleyActing Consumer Financial Protection Bureau Director Mick Mulvaney appointed two senior staff members who are paid salaries of more than $230,000, amounts that are far above what they had been earning in their previous government jobs in Washington, according to agency documents.
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JPMorgan’s Dimon Praises Trump’s Deregulatory Efforts in Annnual Letter
Reuters, Apr. 5, 2018--David HenryJPMorgan Chase & Co. Chief Executive Officer Jamie Dimon complimented the administration of President Donald Trump in an annual letter to shareholders on Thursday, saying tax cuts and deregulatory efforts were helping his bank make more money.
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GSE MSR Offering Hits Market
Mortgage Daily, Apr. 5, 2018Bids are being taken for MSRs on a portfolio of 13,289 loans that had a collective unpaid principal balance of $1.809 billion as of March 31.
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Mortgage Credit Tightest in 13 Months
Mortgage Daily, Apr. 5, 2018The Mortgage Bankers Association said availability of credit for people desiring to finance a residential property was the lowest it's been in more than a year.
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Stone Point Capital Acquires Majority Interest in American Mortgage Consultants
HousingWire, Apr. 5, 2018--Ben LaneStone Point Capital, a private equity firm that also owns a piece of Ten-X, is buying a majority stake in American Mortgage Consultants, a provider of outsourced services to participants in the residential and consumer loan mortgage market.
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Mulvaney Thwarts Warren Inquiry, Citing CFPB Structure
National Mortgage News, Apr. 5, 2018--John Heltman (subscription)Consumer Financial Protection Bureau acting Director Mick Mulvaney said Thursday that the agency's fundamental structure prevents him from fully responding to accusations regarding his stewardship of the bureau, and only structural reforms would compel him to be more accountable.
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U.S. Trade Gap Widens for Sixth Month Ahead of Trump Tariffs
Bloomberg, Apr. 5, 2018--Katia DmitrievaThe U.S. trade deficit widened by more than forecast to a fresh nine-year high in February amid broad-based demand for imports, ahead of Trump administration tariffs that have raised the specter of a trade war.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education Residential Mortgage Banking for the IT Professional Workshop in Detroit Apr. 15
MBA Education presents its popular workshop, Residential Mortgage Banking for the IT Professional, on Sunday, Apr. 15 in conjunction with the MBA Technology Solutions Conference & Expo at the Detroit Marriott at the Renaissance Center.
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