The Lede
Top National News
Q2 2015 U.S. Banking Review: Mortgage Originations
Forbes, Aug. 28, 2015--Team, Trefis
The U.S. mortgage industry witnessed an exceptionally strong level of activity over the second quarter of the year, with data compiled by the Mortgage Bankers Association showing that $395 billion in mortgages were originated over the period.
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Reminder: Private Mortgage Insurance Is Temporary
New York Times, Aug. 28, 2015--Prevost, Lisa
Home buyers who can't put at least 20 percent down usually have to carry private mortgage insurance, often an expensive proposition. One good thing about mortgage insurance, though, is that it doesn't last forever.
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Judge Rules for Thornburg Mortgage in RBC Capital Suit
Wall Street Journal, Aug. 28, 2015--Fitzgerald, Patrick
A federal judge has awarded the court-appointed trustee overseeing the liquidation of Thornburg Mortgage Inc. $45 million in his crisis-era lawsuit against RBC Capital Markets LLC, finding the bank shortchanged the mortgage lender when it seized and subsequently sold some of its assets.
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Mortgage Servicers Resume Securitizing Repayment Rights
Mortgage Servicing News, Aug. 28, 2015--Collomer, Nora
Residential mortgage servicers are once again tapping the securitization market to fund advances to bondholders for the first time since April 2014.
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Consumer Spending in U.S. Rose in July as Wages Picked Up
Bloomberg, Aug. 28, 2015--Chandra, Sho
Consumer purchases climbed in July as incomes grew, showing the biggest part of the U.S. economy was off to a good start to the quarter.
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Fed Hawks Acknowledge Market Turmoil May Delay Rate Hike
Reuters, Aug. 28, 2015--Spicer, Jonathan; Schneider, Howard
Federal Reserve officials who are most anxious to hike interest rates said on Friday that continued turmoil in financial markets may cause the central bank to delay tightening monetary policy beyond next month, even though the U.S. economy remains strong.
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Year After Housing Crisis, Mortgage Complaints Persist in N.C.
Charlotte Observer, Aug. 30, 2015--Roberts, Deon
Nine years after the start of the U.S. housing crisis, complaints about mortgage companies top the list of grievances North Carolina consumers are filing with a federal regulator.
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Monday Morning Cup of Coffee: When Will Mortgage Lending Pick Up?
HousingWire, Aug. 31, 2015--Garrison, Trey
Chuck Gabriel hosted Mortgage Bankers Association President and CEO David Stevens on Capital Alpha's regular Spotlight Call, and in the lengthy conversation Stevens expanded on a blog he wrote last week where he seemed more open than at any time in the past to pulling Fannie Mae and Freddie Mac out of conservatorship, while still maintaining their guarantee.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA 102nd Annual Convention Oct. 18-21 in San Diego
The Mortgage Bankers Association's 102nd Annual Convention & Expo takes place Oct. 18-21 at the San Diego Convention Center.
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MBA Education Residential Underwriting Basics Sept. 9-30
MBA Education presents a four-part webinar, Residential Underwriting Basics, on four consecutive Wednesdays beginning Sept. 9. Register for all four webinars and save 20 percent.
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CREF ’16 Returns to Orlando Jan. 31-Feb. 3
Registration is now open for the Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo, Where Market Makers Meet, taking place Jan. 31-Feb. 3 at the Hyatt Regency Orlando.
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