The Lede
Top National News
Is the CFPB’s Proposed Arbitration Ban Legal?
National Mortgage Professional, Oct. 12, 2015--Hall, Phil
Last week, the Consumer Financial Protection Bureau announced that it was considering the introduction of a new regulation banning the so-called "free pass" arbitration clauses that prevent consumers from filing lawsuits in groups to obtain relief against financial services companies. But does the CFPB have the legal authority to overturn Supreme Court rulings related to arbitration? The answer, according to industry experts, depends on how you view the CFPB's actions.
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Goldman Bank Boosts Mortgage Lender With Nearly $100 Million in Credit
Wall Street Journal, Oct. 12, 2015--Baer, Justin
Goldman Sachs Group Inc.'s banking arm has provided nearly $100 million in credit to Directed Capital Resources, refinancing the commercial-mortgage lender's existing debt and doling out a new credit line.
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JPMorgan Earnings Preview: Mortgage, Card Businesses Should Offset Lukewarm Trading Results
Forbes, Oct. 12, 2015--Team, Trefis
Investors will be able to get an idea of how various banking services fared in the third quarter on Tuesday, October 13, when JPMorgan Chase kicks off the earnings season for U.S. banks.
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Here’s How TRID is Changing the Mortgage Industry
HousingWire, Oct. 12, 2015--Garrison, Trey
This marks the start of the second full week of the TILA-RESPA Integrated Disclosure rule, and it's impacting real estate and mortgage finance at almost every point along the pipeline.
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Cracks Emerge in Bond Market
Wall Street Journal, Oct. 12, 2015--Cherney, Mike
Falling profits and increased borrowing at U.S. companies are rattling debt markets, a sign the six-year-long economic recovery could be under threat.
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Lockhart Says Improving U.S. Job Market Supports ’15 Liftoff
Bloomberg, Oct. 12, 2015--Matthews, Steve
Federal Reserve Bank of Atlanta President Dennis Lockhart said an improving U.S. job market warrants an interest-rate increase this year, reinforcing the message from other officials in recent days that they remain on track for liftoff in 2015.
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U.S. Dollar is Having a Rough October
CNN, Oct. 12, 2015--Gillispie, Patrick The U.S. dollar is not having a good October. Its value sank along with uncertainty around when the Federal Reserve will raise its key interest rate.
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Trulia: Americans Just Not Worried About Mortgage Rates Rising
HousingWire, Oct. 12, 2015--Garrison, Trey
Selma Hepp, chief economist at Trulia, argues that it would take a really big Federal Reserve interest rate increase for homebuyers to care that much.
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Posh Tower Proposed for Struggling New York Neighborhood: Central Park South
Wall Street Journal, Oct. 13, 2015--Brown, Eliot
If developer Steven Witkoff's ambitions are realized, he will complete by 2020 a soaring 900-foot condominium tower that would be the latest addition to the "Billionaires' Row" of ultraluxury skyscrapers on the southern edge of New York's Central Park.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Independent Mortgage Bankers Conference Dec. 2-4
The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Dec. 2-4 at the Omni Nashville.
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