The Lede

Washington Post, June 30, 2016--Orton, Kathy  The stock market's plunge following the Brexit vote was bad for most people's retirement accounts but good for those looking to refinance their mortgage. "In light of the Brexit vote and other recent economic news, MBA now predicts that the Fed will hike rates only once this year, likely in December," said Mortgage Bankers Association Vice President of Research and Economics Lynn Fisher.

MarketWatch, June 30, 2016--Riquier, Andrea Nearly a decade after the subprime crisis, many neighborhoods are still plagued by undead leftovers from the crash. "Zombie foreclosures" are those that have been begun--but not finished--by lenders. As homes sit empty, they invite vandalism, drag down property values and erode municipal tax bases.

National Mortgage News, June 30, 2016--Finkelstein, Brad Despite writing higher-quality loans in recent years, the mortgage industry is facing an upswing in loan quality risks as it does more purchase loans and fewer refinancings. Judging from discussions at May's Mortgage Bankers Association National Secondary Market Conference, there is a perception that "fraud has gone away and it's under control and we don't have to worry about it," said Ann Fulmer, an industry expert on fraud issues.

Wall Street Journal, June 30, 2016--Dizik, Alina New high-rise buildings are in the works for active seniors looking for retirement communities in the heart of the city.

HousingWire, June 30, 2016--Lane, Ben Amidst mounting public pressure to do more to keep struggling homeowners in their homes, HUD and the Federal Housing Administration announced a series of extensive changes to its non-performing loan sale program.

Reuters, June 30, 2016--Mutikani, Lucia Factory activity in the U.S. Midwest surged to its highest in almost 1-1/2 years in June amid strong gains in new orders and production, offering a ray of hope for the downtrodden manufacturing sector.

HousingWire, June 30, 2016--Ramirez, Kelsey The first nonperforming loan report from the Federal Housing Finance Agency, released today, shows Fannie Mae and Freddie Mac "resolved" just 24% of its total inventory of non-performing loans.

San Francisco Chronicle, July 1, 2016--Gutierrez, Melody The bill would amend the California Homeowner Bill of Rights to include heirs of homeowners, requiring lenders to work with them to help save their homes from foreclosure. But Pat Zenzola, a lobbyist for the California Mortgage Bankers Association, said the bill is "ripe with the opportunity for additional litigation and potential for mischief."

DSNews, June 30, 2016--Honea, Brian Having fallen below its 2016 cap of $339.3 billion in March, Fannie Mae's gross mortgage portfolio contracted further in both April and May, shrinking at an annual rate of 32.0 percent in May, according to Fannie Mae's May 2016 Monthly Volume Summary.

Albuquerque Journal, June 30, 2016--Oswald, Mark A federal court jury this week cleared two former executives of Thornburg Mortgage of five counts and was was unable to decide on five others after a month-long trial on civil accounting fraud charges.

HousingWire, June 30, 2016--Lane, Ben Minnesota announced earlier this week that it is fining American Modern Insurance Group $1 million for overcharging Minnesota residents for force-placed insurance. 

MBA Education, the education arm of the Mortgage Bankers Association, presents Introduction to Mortgage Banking, an overview of the residential real estate finance industry as a career development tool for college students and those interested in changing careers, and as a training tool for interns and new hires. 

At the MBA 103rd Annual Convention & Expo, Captains Mark and Scott Kelly, the only siblings who have served as astronauts and engaged in space travel, will candidly reflect on the experiences and lessons that shaped their views on teamwork, leadership, risk taking, facing adversity and their personal strategies for adapting to change.

MBA Education presents a webinar, Introduction to Home Equity Lines of Credit, on Tuesday, July 19 from 2:00-3:30 p.m. ET