Category: Top National News

Reuters, Mar. 28, 2018–Lucia MutikaniGross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, instead of the previously reported 2.5 percent, the Commerce Department said in its third estimate for the quarter on Wednesday.

Wall Street Journal, Mar. 27, 2018–Laura Kusisto (subscription)Lennar plans to begin using mortgage-application technology from Blend, a San Francisco-based startup, that allows consumers to apply for a mortgage online or on their phone. Executives say that the technology can shave as many as 10 days off the process of applying for a mortgage.

Anchorage Daily News (Alaska), Mar. 27, 2018–Alex DeMarbanThe missteps largely involve McKinley Mortgage in Redding, Calif., and an investment fund it manages, according to the U.S. Securities and Exchange Commission. But the problems extend to McKinley Mortgage in Anchorage and the man who founded the company in Alaska in 1989, Tobias Preston, 55, a former fisherman from Homer who is president of both companies.

HousingWire, Mar. 27, 2018–Kelsey RamirezThe latest Case-Shiller report showed home prices are continuing to rise, but now experts say not only are those high prices here to stay, but homebuyers could be pummeled this spring by an increase in competition.

Bloomberg, Mar. 27, 2018–Chris DolmetschFacebook Inc. was sued by civil rights groups led by the National Fair Housing Alliance claiming the social-media giant’s advertising platform allows landlords and real-estate brokers to exclude groups of people from receiving ads about housing based on characteristics such as family status or sex.

Bloomberg, Mar. 27, 2018–Sarah Mulholland, Scott DeveauBrookfield Property Partners LP’s deal to take over retail landlord GGP Inc. is “wholly inadequate,” “a negative for the sector” and “neither exciting for GGP shareholders nor a good read-through for mall asset values.” In fact, “investors should vote against the transaction as it does not offer sufficient value,” said Wall Street analysts.

Mortgage Daily, Mar. 27, 2018The first issuance of residential mortgage-backed securities solely backed by loans that were originated by loanDepot LLC is in the works.

National Mortgage Professional, Mar. 27, 2018–Phil Hall”MBA does a great job of informing the state chapters of any issues we should be aware of and speak to our local legislators on. In fact, to help with this, we also employ a lobbyist to monitor legislative issues at the state level. We also attend the MBA’s National Advocacy Conference in Washington, D.C. every spring.”

HousingWire, Mar. 27, 2018–Caroline BasileICG Strategic Equity and Aberdeen Standard Investments provided equity co-investment in the transaction alongside Narrow Gauge Capital.

Mortgage Daily, Mar. 27, 2018Winning bidders have been announced for a portfolio of 182 Fannie Mae mortgages with a collective outstanding unpaid principal balance of $34.25 million.