The Lede
Top National News
Deutsche Bank Strategist: The Odds of the Federal Reserve Staying on Hold Until 2017 Are ‘Up There’
Bloomberg, Sept. 23, 2015--Kawa, LukeDominic Konstam, global head of rates research at Deutsche Bank, said the Federal Reserve will not raise interest rates until the market is "begging for it."
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Weekly Mortgage Applications Surge 13.9% on Rate Dips
CNBC, Sept. 23, 2015--Olick, Diana
Total application volume surged 13.9 percent on a seasonally adjusted basis for the week ended Sept. 18 versus the earlier week, according to the Mortgage Bankers Association.
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Q2 2015 U.S. Banking Review: Mortgage Portfolios
Sept. 23, 2015--Team, Trefis
The mortgage industry witnessed a sizable uptick in activity over the second quarter of the year, with total origination volumes reaching the highest level in the last two years. In fact, $225 billion in fresh mortgages were originated over the period - making it the best quarter in this regard since Q4 2007.
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What the New Mortgage Closing Process Means for Consumers
Washington Post, Sept. 23, 2015--Charron, David
Come Oct. 3, the Consumer Financial Protection Bureau is mandating new forms and regulations for any party involved in a mortgage settlement. This includes buyers, sellers, agents, lenders and title companies.
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7 Challenges Confronting the Distressed Mortgage Market
National Mortgage News, Sept. 23, 2015
The rapidly evolving market for buying and selling distressed mortgage assets has created myriad challenges and opportunities for investors, servicers and portfolio managers.
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California’s Housing Gold Rush Driving Demand for Jumbo Loans
Wall Street Journal, Sept. 23, 2015--Martin, Anya
All of coastal California is basically insane right now, referring to real estate, of course. Yet government-backed conforming loans are capped at $625,500 in high-priced areas. So unless they can make a substantial down payment to qualify for a Fannie Mae, Freddie Mac or FHA loan, the only way many Californians can finance their mortgage will be a jumbo loan.
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HARP Helped More than 3 Million Borrowers Save $3,500 Annually
HousingWire, Sept. 23, 2015--Garrison, Trey
A new white paper by Amit Seru from the University of Chicago, along with other economists at federal regulatory agencies, provides the first comprehensive analysis of the effects of the Home Affordable Refinancing Program.
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PropertyRadar: California Housing Stuck in a Standstill
HousingWire, Sept. 23, 2015--Swanson, Brena
California's housing market remains stuck in a standstill, with August's sales numbers showing a weakening market.
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Gross Tells Fed to ‘Get Off Zero Now!’ as Economies Run on Empty
Bloomberg, Sept. 23, 2015--Childs, Mary
Bill Gross said the Federal Reserve needs to raise interest rates as soon as possible, trading some near-term market losses for longer-term stability and a healthier financial system.
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U.S. Factory Activity Stuck at Near Two-Year Low in September: Markit
Reuters, Sept. 23, 2015--Connor, Michael
Growth in the U.S. manufacturing sector showed no month-over-month change during September, staying at August's sluggish pace which was the weakest in almost two years, according to an industry report released on Wednesday.
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Lenders Prefer Multifamily and Industrial Over Retail
National Real Estate Investor, Sept. 24, 2015--Popovec, Jennifer Duell
Even though the retail sector continues to strengthen, lenders don't find retail properties as attractive as they find multifamily and industrial assets. Recent research from the Mortgage Bankers Association underscores lender sentiment toward retail properties.
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No More Mumbo-Jumbo or Surprises; Homebuying Will Become Easier Next Week…
Cleveland Plain Dealer, Sept. 23, 2015--Murray, Teresa Dixon
After years of fanfare, lenders next week must offer new forms to potential borrowers to help them better understand their loan options, understand what size of loan they can afford and shop different loan offers. Bill Cosgrove, CMB, chairman of the Mortgage Bankers Association and CEO of Union Home Mortgage Corp. in Strongsville, Ohio, said the new process will peel off the "mumbo-jumbo" language that for years has intimidated consumers, no matter their level of education.
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