The Lede
Top National News
Bankers Charged With TARP Crimes Reach 80
Mortgage Daily, Aug. 9, 2016
More than 199 have faced civil or criminal charges.
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PwC Fights $5.6 Billion Fraud Trial over Taylor Bean’s Collapse
Bloomberg, Aug. 9, 2016--Nesmith, Susannah; Pearson, Sophia
PwC accused of missing red flags in seven-year fraud scheme.
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Economist: This is Why Homeownership Hit an All-Time Low
HousingWire, Aug. 9, 2016--Fleming, Mark
First American Financial Corp. chief economist says future homeownership isn't tarnished, just delayed.
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PHH Will Lose More Business from Merrill Lynch
National Mortgage News, Aug. 9, 2016--Finkelstein, Brad
Company said Merrill Lynch plans to bring more origination activity in-house.
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White House Says Dodd-Frank Not to Blame for Decrease in Community Banks
Wall Street Journal, Aug. 10, 2016--Borak, Donna
Report from economic advisers council cites increased lending by smallest banks since 2010.
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Mortgage Debt Declines in Consumer Debt Picture
MReport, Aug. 9, 2016--Honea, Brian
New York Fed says while household debt increased in 2Q, mortgage debt fell.
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Surprise! Paying A Mortgage Is Cheaper Than Renting In 42 States
Investor's Business Daily, Aug. 9, 2016--Katzeff, Paul
GOBankingRates.com study says low mortgage rates give homeownership competitive edge.
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Lenders Rush to Make Loans on Apartment Properties
National Real Estate Investor, Aug. 9, 2016--Anderson, Bendix
Lenders of all types keep making loans on apartments properties--often beating the records set last year.
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U.S. Wholesale Inventories Rise More than Expected in June
Reuters, Aug. 9, 2016--Mutikani, Lucia
Gains reported in stocks of farm products, nondurable goods.
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Lending Community Remains ‘Cautiously Optimistic’ in Approach to Underwriting Deals
REBusiness Online, Aug. 9, 2016--Cannon, Christina
Mortgage Bankers Association reports flat commercial/multifamily originations in first quarter.
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One Sign That U.S. Productivity Growth Is Poised to Shoot Higher
Bloomberg, Aug. 9, 2016--Kawa, Luke
A tight labor market bodes well for productivity growth.
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Appraisal Volume Continues to Move Higher
HousingWire, Aug. 9, 2016--Swanson, Brena
a la mode reports four-week average also jumps.
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Ellie Mae: Homebuying Millennial Credit Scores Keep Improving
HousingWire, Aug. 9, 2016--Ramirez, Kelsey
Younger borrowers show preference for FHA-backed mortgages.
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Farmer Mac’s Q2 Income Sinks on Hedging Losses
National Mortgage News, Aug. 9, 2016--Passy, Jacob
Losses came from financial derivatives, hedging activities.
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It Would Take 228 Years for Black Families to Amass Wealth of White Families, Analysis Says
Wall Street Journal, Aug. 9, 2016--Davidson, Kate
Says report from Corporation for Enterprise Development/Institute for Policy Studies.
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Redwood Grows Q2 Profits on Higher Interest Income
National Mortgage News, Aug. 9, 2016--Passy, Jacob
Increase results from net interest income, decrease in operating expenses.
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Big Banks Team Up to Fight Cyber Crime
Wall Street Journal, Aug. 9, 2016--Sidel, Robin
Eight banks, including J.P. Morgan, Bank of America and Goldman Sachs, form group to tackle growing threat.
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Walter Investment Sells $535 Million in Mortgage Servicing Rights
HousingWire, Aug. 9, 2016--Ramirez, Kelsey
New Residential Investment will pay $231 million for MSRs and assets of Walter Capital Opportunity, subsidiaries.
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Residential Finance News
Commercial/Multifamily News
MBA News
MBA Education School of Loan Origination Instructor-Guided Online Course Sept. 12-Oct. 6
In-Depth Instruction on How to Originate Loans
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Music Legend James Taylor Highlights Concert MBA at Annual Convention & Expo
Convention & Expo Returns to Boston Oct. 23-26
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