The Lede

Top National News

Mortgage Applications Fall 3.2% as Rates Retrench
CNBC, Nov. 25, 2015--Olick, Diana A definitive rise in mortgage interest rates over the last month is keeping borrowers at bay. Loan application volume fell 3.2 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
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U.S. Business Spending Gauge Surges, Durable Goods Orders Soar
Reuters, Nov. 25, 2015--Mutikani, Lucia The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 1.3 percent last month after an upwardly revised 0.4 percent rise in September.
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Personal Spending Rises Less than Expected in October
Business Insider, Nov. 25, 2015--Udland, Myles The latest report on personal income and outlays showed that income rose as expected in October while spending rose less than expected.
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Quicken Loans Debuts 8-Minute Mortgages, Without Humans
Detroit Free Press, Nov. 28, 2015--Reindl, J.C. Detroit-based Quicken Loans has unveiled a new self-service website aimed at speeding up the mortgage approval process and cutting down the need to talk with a human loan officer.
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Adjustable-Rate Mortgages Out of Favor as Super Low Rates Push Homebuyers Toward Fixed-Rate Loans
OC Register (Calif.)., Nov. 29, 2015--Lasner, Jonathan Local homebuyers who took out a mortgage chose an adjustable-rate loan just 15 percent of the time on average in the first 10 months of this year, CoreLogic statistics show. That compares with 19.8 percent in 2014.
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New Disclosure Rules for Mortgages Prove to Be a Headache, But Not for All
Washington Post, Nov. 25, 2015--Harney, Kenneth R. How are home closings going nearly two months after the new federal real-estate disclosure rules took effect? Are they being knocked off schedule and taking much longer from date of sale to final settlement, as some mortgage industry executives predicted? It depends on whom you ask.
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HUD Homes at Half Price
New York Times, Nov. 27, 2015--Prevost, Lisa A little-known program allows police officers, teachers, firefighters and emergency medical technicians to buy certain homes for half price. But financing comes with some strings attached.
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Chinese Cash Floods U.S. Real Estate Market
New York Times, Nov. 28, 2015--Searcey, Dionne; Bradsher, Keith A luxury development 35 miles northwest of Dallas is the latest frontier in a global buying phenomenon as Chinese money becomes a major force in real estate around the world.
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Amid Protracted Rates, CT’s Home Financing Slows
Hartford, Nov. 30, 2015--Seay, Gregory Connecticut's mortgage lending market to buy or refinance a home slowed noticeably in recent years, even as interest rates - pegged to increase soon--have remained among the lowest in a generation. But, "we've been seeing a lot more first-time homebuyers,'' said David Zamary, president of the Connecticut Mortgage Bankers Association. "A lot of people were on the fence. But they're getting off the fence."
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The New Case for Reverse Mortgages
Wall Street Journal, Nov. 30, 2015--Pfau, Wade As the government continues to strengthen the rules and regulations for reverse mortgages, and as new research continues to pave the way with an agnostic approach about their role, we may be at a tipping point in which reverse mortgages become much more predominant in the years ahead.
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MBA News

MBA Mergers & Acquisitions Workshop in Phoenix Jan. 20-21
The Mortgage Bankers Association's second annual Mergers and Acquisitions Workshop takes place Jan. 20-21 at the Hilton Phoenix Airport. 
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MBA Advocacy Action Center Webinar Monday
Be among the first to explore our new and easy-to-use MBA Advocacy Action Center platform by joining us this Monday, November 30 from 2:00-3:00 p.m. for a free webinar.
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