The Lede
Top National News
Mortgage Applications Down 3.5% on Fewer Rate Swings
CNBC, Oct. 28, 2015--Olick, Diana
Total application volume decreased 3.5 percent on a seasonally adjusted basis for the week that ended Friday versus the previous week, according to the Mortgage Bankers Association.
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Who the Heck Works in This L Street Office? Big Brother?
Washington Post, Oct. 28, 2015--Kelly, John The CoStar Group's Field Operations Center directs 140 field researchers that spread out across North America noting every aspect of the real estate they encounter: the type of building, the size, the shape, whether there's a "For Lease" sign in a window.
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Mortgage Fraud Risk Falls 8.9%, Worst in Florida
24/7 Wall Street, Oct. 28, 2015--Ausick, Paul
An estimated 12,184 mortgage applications filed in the second quarter of 2015 contained fraudulent information or serious misrepresentations, according to data released on Wednesday by CoreLogic. The total represents 0.67% of all mortgage applications and is up from 11,100 applications (0.69%) a year ago.
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U.S: No Robo-Calls, Unless You’re Collecting Government-Backed Debt
National Mortgage News, Oct. 28, 2015--Wack, Kevin
The U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.
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St. Joe Company, Former Execs Settle with SEC over Alleged Real Estate Overvaluing
HousingWire, Oct. 28, 2015--Lane, Ben
The Securities and Exchange Commission this week had charged The St. Joe Co., its former top executives, and two former accounting department directors, with improperly accounting for the declining value of its residential real estate developments.
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New York vs. Miami: The $50 Million Penthouse Battle From Zaha Hadid
Bloomberg, Oct. 28, 2015--Tarmy, James
Anglo-Iraqi starchitect Zaha Hadid has designed just two residential buildings in the U.S., one in New York (520 West 28th Street in the Chelsea Gallery District next to the High Line) and one in Miami (One Thousand Museum, next to PAMM and overlooking Biscayne Bay). Both have yet to be completed and both, as it happens, have penthouses priced in the region of $50 million.
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U.S. Third Quarter GDP Forecasts Raised After Trade Data
Retuers, Oct. 28, 2015--Mutikani, Lucia
U.S. third-quarter economic growth could surprise on the upside after government data on Wednesday showed the goods trade deficit narrowed sharply to a seven-month low in September.
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Republicans Back Paul Ryan as Speaker
CNN, Oct. 28, 2015--Walsh, Deirdre
The era of Paul Ryan has begun on Capitol Hill after House Republicans nominated the 45-year-old Wisconsin congressman to serve as speaker of the House, setting him up to be the youngest to ascend to the post since before the Civil War.
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Community Lenders Call on FHA to Cut Mortgage Insurance Premiums, Again
HousingWire, Oct. 28, 2015--Lane, Ben
Citing the strength of the Mutual Mortgage Insurance Fund, the Federal Housing Administration in January cut its annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%, but one group is now calling on the FHA to reduce its insurance premiums even further, to pre-crisis levels.
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Deutsche Bank to Cut 35,000 Jobs Under New Strategy
New York Times, Oct. 29, 2015--Bray, Chad
Deutsche Bank said Thursday that it would slash as many as 35,000 jobs over the next two years through internal cuts and sale of businesses, as the new co-chief executive, John Cryan, unveiled plans to simplify and overhaul the lender.
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Bank of America Cutting 100 Mortgage, Tech Jobs in Charlotte
Charlotte Observer, Oct. 29, 2015--Rothacker, Rick
Bank of America is eliminating about 100 jobs in Charlotte, as the bank continues to reduce staff that handles problem mortgage loans and makes cuts in its technology and operations unit, a bank spokesman said Wednesday.
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Pittsburgh Most Profitable for Home Flipping, Real Estate Data Show
TribLive.com (Pittsburgh), Oct. 29, 2015--Fleisher, Chris
Home flippers can turn a bigger profit in Pittsburgh and Pennsylvania than any other place in the nation, according to real estate data provider RealtyTrac, but the returns may not be as good as they appear.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA TRID Self-Study Guides Available
The Mortgage Bankers Association has made available four self-study courses designed to provide you with up to date training and information on the Consumer Financial Protection Bureau's TILA/RESPA Integrated Disclosures rule.
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MBA Recognizes Select Members
The Mortgage Bankers Association recognizes its Select Members.
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