The Lede
Top National News
Why the 20-Year Mortgage Is the Answer to Housing Finance Mess
American Banker, Feb. 5, 2016--Pinto, Edward
The author, resident fellow with the American Enterprise Institute, said quickly amortizing mortgages would help achieve sustainable wealth-building homeownership opportunities for low- and middle-class Americans.
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Pepperdine Launches Executive Certificate in Commercial Real Estate
Malibu Times, Feb. 7, 2016--Giacobbe, Katie
Pepperdine University launched a six-month Executive Certificate in Commercial Real Estate program on Feb. 1. Designed for working professionals, the the curriculum is based on Mortgage Bankers Association training and includes five real estate courses and one elective course.
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Tips For Avoiding Closing Delays
UExpress (Universal Syndicate), Feb. 1, 2016--Sichelman, Lew
Lenders and their vendors had almost two years to figure out how to combine the old requirements from the Truth in Lending Act (TILA) and the Real Estate Settlement and Procedures Act (RESPA) into the new TILA-RESPA Integrated Disclosure, or TRID, forms. But they're still having trouble.
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New York Real Estate Developer John Tishman Dies at Age 90
Associated Press, Feb. 6, 2016
A builder whose company worked on the World Trade Center in New York City, the Century City complex in Los Angeles and Walt Disney's EPCOT center in Florida among other high-profile developments has died. John Tishman was 90.
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Employment at Nonbank Mortgage Lenders Surpasses 300,000
National Mortgage News, Feb. 5, 2016--Collins, Brian
The nonbank mortgage sector ended 2015 with 12,300 more full-time employees than in December 2014.
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New Mortgage Companies Have Ties with Subprime Lenders
Los Angeles Times, Feb. 6, 2016--Koren, James Rufus
Consumer advocates worry that the new crop of mortgage companies, particularly those with ties to now-defunct subprime lenders, may again take advantage of borrowers.
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Record Year Ahead for Commercial, Multifamily Originations
Commercial Property Executive, Feb. 5, 2016--Murray, Barbra
Commercial and multifamily mortgage originations will reach new heights in 2016, according to a new report by the Mortgage Bankers Association. MBA expects originations to total a record $511 billion this year.
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Genworth’s Mortgage Insurance Profits Almost Double in 2015
National Mortgage News, Feb. 5, 2016--Finkelstein, Brad
Genworth's U.S. mortgage insurance business earned $179 million in 2015, but the parent company lost $615 million as it still has problems with its long-term care insurance product.
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Jobs Report Keeps Fed’s March Rate Decision in Limbo
Wall Street Journal, Feb. 5, 2016--Hilsenrath, Jon
Friday's jobs report likely leaves Federal Reserve officials in a "watchful waiting" mode as they consider whether to lift short-term interest rates at their next policy meeting in March.
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Construction Industry Optimism Declines with Uncertain Economy, Survey Finds
Bay Area Real Estate, Feb. 5, 2016--Steinhauer, Adam
Construction executives are less optimistic about business conditions going into 2016 than they have been in three years, with a growing number concerned about the uncertain economy, Wells Fargo Equipment Finance reported.
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Wall Street Pulls Back from Mortgage Market that Fed Made Boring
Bloomberg, Feb. 5, 2016--Scully, Matt
The Federal Reserve is squeezing a good deal of the profit out of mortgage bond trading, and Wall Street banks are increasingly heading for the exits.
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It’s Finally Getting Easier to Get The Best Kind of Mortgage
Time, Feb. 5, 2016--Salisbury, Ian
It's no secret millions of millennials and Gen Xers are having trouble buying homes. But here's some good news on that front: It just a got a little easier for these and other buyers to qualify for so-called 'prime' mortgages, loans that go to the highest quality borrowers.
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Super Bowl Ad or Not, It’s Pretty Hard to Get a Mortgage in 8 Minutes
MarketWatch, Feb. 5, 2016--Requier, Andrea
"You could get a mortgage on your phone," the Super Bowl ad tells us. It's advertising Quicken Loans' Rocket Mortgage, so named because it claims to connect applicants with mortgages in just eight minutes. Quicken claims that's all the time that's needed to get a mortgage - not just a pre-approval. But there are a lot of caveats.
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HSBC Agrees to $470 Million Settlement Over Alleged U.S. Mortgage Abuses
Wall Street Journal, Feb. 5, 2016--Patrick, Margot
HSBC Holdings PLC agreed Friday to pay $470 million to settle federal and state allegations of abusive practices in its U.S. mortgage business.
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Less Mortgage Credit, More Home Sale Price Gains
National Mortgage Professional, Feb. 5, 2016--Hall, Phil
The latest housing market data finds a slight drop in mortgage credit availability and a handsome price gain for home sellers.
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Mortgage Credit Availability Fell in January: MBA
National Mortgage News, Feb. 5, 2016--Peters, Andy
Mortgage credit availability decreased in January, on a decline in some Federal Housing Administration and conventional offerings, according to the Mortgage Bankers Association.
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Seven More Takeaways from the MBA CREF 2016 Conference
National Real Estate Investor, Feb 5, 2016--Misonzhnik, Elaine
Here is what economists and bank executives had to say about which real estate sectors will enjoy a resurgence in the coming year, which mistakes investors should be wary of and how to stay ahead of the market in 2016.
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