The Lede
Top National News
Need to Store That? Booming Self-Storage Industry Says No Problem
Wall Street Journal, Oct. 13, 2015--Pleven, LiamBusiness is booming for companies that lease out storage units to consumers. Rents are rising, most units are occupied and competition is tame due to limited new construction in the wake of the financial crisis.
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New Homes Sales on the Rise: MBA Survey
CNBC, Oct. 13, 2015
MBA President and CEO David Stevens appeared on CNBC's Squawk Box to discuss the association's Builder Applications Survey and other issues.
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With TRID Regs in Place, Mortgage Industry Braces for What’s Next
National Mortgage News, Oct. 13, 2015--Sinnock, Bonnie
Strategies that help mortgage lenders get a handle on final Dodd-Frank Act implementation costs and better reach the next generation of homeowners will be among the hot topics discussed during the 2015 Mortgage Bankers Association's Annual Convention.
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Mortgage Applications Rise, as Foreclosures Drop and Insects Devour Phoenix
National Mortgage Professional, Oct. 13, 2015--Hall, Phil
The first batch of good news comes via the latest Mortgage Bankers Association Builder Application Survey data, which found mortgage applications for new home purchases increased by 3 percent from August. Conventional loans made up more than two-thirds of the mortgage products being sought, while the average loan size of new homes increased from $317,035 in August to $324,884 in September.
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Virtual Mortgage Getting With Your Smart Phone
Forbes, Oct. 13, 2015--Greene, Mark
Virtually every mortgage lender uses virtual technology to approve mortgage loans and navigate the disclosure, documentation and closing process.
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GE to Sell Commercial Lending, Leasing Businesses to Wells Fargo
Wall Street Journal, Oct. 13, 2015--Mann, Ted; Glazer, Emily
General Electric Co. agreed to sell a major chunk of its U.S. commercial lending business to Wells Fargo & Co., a milestone in the company's rapid exit from financial services that could allow it to shed a tough regulatory regime.
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CMBS Delinquencies Fell from August to September: Fitch
Mortgage Servicing News, Oct. 13, 2015--Peters, Andy
The commercial mortgage-backed securities delinquency rate fell from August to September, according to Fitch Ratings.
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Federal Judge Tosses Class Action Suit Against Butler & Hosch
HousingWire, Oct. 13, 2015--Garrison, Trey
U.S. District Judge Beth Bloom dismissed a class action accusing law firm Butler & Hosch PA and its founder, Robert Hosch, of violating the Worker Adjustment and Retraining Notification Act by failing to give proper notice to employees before enacting layoffs.
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How Banks Help Rich Clients Invest in Vegas Hotel, NYC Tower
Bloomberg, Oct. 13, 2015--Gopal, Prashant; Collins, Margaret
What does Manhattan's tallest residential tower have in common with the Hooters hotel-casino in Las Vegas? They're investments for rich families.
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Eight Fed Banks Call for Discount Rate Hike: Minutes
Reuters, Oct. 13, 2015--Dunsmuir, Lindsay
The number of Federal Reserve banks pushing the central bank to raise the rate it charges commercial banks for emergency loans rose to eight in September from five in July, minutes from the Fed's discount rate meeting showed.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Know Before You Owe Rule Q&A with TRID Experts Webinar Today
The Mortgage Bankers Association presents a webinar, Know Before You Owe Rule: Q&A with TRID Experts today, October 14, from 3:00-4:30 p.m. ET.
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