The Lede

Top National News

New Rules for Lenders Seem to be Raising Costs for Mortgage Customers
Washington Post, Oct. 14, 2015--Harney, Kenneth It has been barely two weeks since the nationwide changeover in mortgage and settlement procedures took effect, but early results are trickling in: Lenders and brokers say just about everything is taking longer, and the costs to home buyers are moving up.
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Wells Fargo Profit Rise, Boosted by GE Loan Book
Reuters, Oct. 14, 2015 Wells Fargo, the biggest U.S. residential mortgage lender, reported a rise in quarterly profit for the first time in three quarters on Wednesday, helped by its purchase of commercial loans from General Electric Co.
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New Rules to Help Lower- and Moderate-Income Applicants Qualify for Mortgages
Pittsburgh Post-Gazette, Oct. 14, 2015--Grant, Tim New rules adopted last month by Fannie Mae will allow mortgage applicants to qualify for a home loan by counting the salaries of other relatives who live in the house--although their names may not be listed on the mortgage.
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MBA Issues Warning: CFPB is Coming for Marketing Services Agreements
Housing Wire, Oct. 14, 2015--Lane, Ben  Last week, the Consumer Financial Protection Bureau issued a compliance bulletin on marketing services agreements. The Mortgage Bankers Association warned its members to take the CFPB's bulletin very seriously.
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Top Fed Policymaker Doesn’t Expect Interest Rate Hike This Year
Los Angeles Times, Oct. 14, 2015--Puzzangera, Jim This week Federal Reserve Gov. Daniel Tarullo said he didn't anticipate a hike in the Federal Funds rate before the end of the year--signaling a shift by central bankers from just two weeks ago.
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Retail Sales Figures Mostly Disappoint
Wall Street Journal, Oct. 14, 2015--Sussman, Anna Louie Retail sales rose a seasonally adjusted 0.1% in September from August, the Commerce Department said Wednesday. Economists had expected a rise in September of 0.2%. The increase was largely due to a 1.8% month-over-month increase in auto sales.
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Producer Prices Fall Again, Inflation Quiet
MarketWatch, Oct. 14, 2015--Bartash, Jeffry The producer-price index, which includes wholesale costs, fell 0.5% last month, the Labor Department said Wednesday. Economists polled by MarketWatch had forecast a seasonally adjusted 0.2% decline.
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U.S. Business Inventories Unchanged, Sales Fall
Reuters, Oct. 14, 2015--Mutikani, Lucia U.S. business inventories were flat in August for a second straight month as businesses work through a stockpile of merchandise accumulated in the first half of the year.
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How New Mortgage Disclosure Rules May Affect Buyers
Associated Press, Oct. 15, 2015--Veiga, Alex New "Know Before You Owe" rules, which took effect Oct. 3, require lenders to provide borrowers with clearly laid out details on their loan and what it will cost them in an initial estimate and, closer to closing, a final summary. David Stevens, president and CEO of the Mortgage Bankers Association, said the intent of the new rules is to have the borrower prepared and informed at the closing table.
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Mortgage Volume Gives Back Big Gains, Down 28%
CNBC, Oct. 14, 2015--Olick, Diana Mortgage applications plummeted 27.6 percent on a seasonally adjusted basis for the week that ended Friday from the previous week, the Mortgage Bankers Association said Wednesday.
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CFPB, Regulatory Concerns Drive Bank of America Out of MSAs
HousingWire, Oct. 14, 2015--Lane, Ben Citing "recent regulatory developments," Bank of America will become the latest lender to discontinue its use of marketing services agreements.
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8 Stories to Follow at MBA Annual
National Mortgage News, Oct. 14, 2015 The outlook for originations, and regulators' priorities for 2016, will dominate discussions throughout the Mortgage Bankers Association's Annual Convention in San Diego next week.
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Residential Finance News

Commercial/Multifamily News

MBA News

Call for Speakers for MBA Whole Loan Trading Workshop; Deadline Oct. 15
The Mortgage Bankers Association has issued a Call for Speakers for its upcoming Whole Loan Trading Workshop in Dallas; submission deadline is Oct. 15.
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