The Lede

Top National News

U.S. Commercial, Multifamily Mortgage Debt Rises to $2.86 Trillion in 2016
World Property Journal, June 20, 206--Gerrity, Mike According to the Mortgage Bankers Association, commercial and multifamily mortgage debt outstanding increased by $35.3 billion in the first quarter, as three of the four major investor groups increased their holdings. That is a 1.2 percent increase over the fourth quarter.
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Mortgage Rates Hit A New Three-Year Low As Brexit Looms
Forbes, June 20, 2016--Woellert, Lorraine Home loans haven't been this cheap in three years. Fed policymakers-who don't control mortgages but can influence their direction-held short-term borrowing costs steady last week amid worry over a big vote in Europe on Thursday. That's when Britain goes to the polls to declare whether it wants to stay in the European Union.
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FTC Shuts Down ‘Appalling’ Multi-Million Dollar Mortgage Relief Scam
HousingWire, June 20, 2016--Lane, Ben According to the FTC, the California-based law firms bilked millions of dollars out of homeowners who were facing foreclosure by telling them that they could join a "mass joinder" lawsuit against their respective mortgage note holders that could discharge their mortgage entirely, provide monetary relief, or both.
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What to Watch for at Janet Yellen’s Congressional Testimony
Wall Street Journal, June 20, 2016--Davidson, Kate Central bank watchers will hear from the Fed chief for the fourth time in as many weeks on Tuesday when she appears before the Senate Banking Committee for her semiannual monetary policy testimony. Yellen will return to the Hill on Wednesday for round two before the House Financial Services Committee.
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Pimco Says ‘Storm Is Brewing’ in U.S. Commercial Real Estate
Bloomberg, June 20, 2016--Gittelsohn, John; Mulholland, Sarah U.S. commercial real estate prices may fall as much as 5 percent in the next 12 months amid tightened regulations, a wall of debt maturities and property sales by publicly traded landlords, Pacific Investment Management Co. said in a report Monday.
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Will Homebuilders Fill the Void in Housing for First-Time Buyers?
HousingWire, June 20, 2016--Swanson, Brena The ability to save for a down payment historically ranks as the biggest hurdle for first-time homebuyers, until now. According to a new housing report from Fitch Ratings, there's a new problem that's creating an even bigger roadblock for entry-level buyers - inventory shortages.
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Putting a U.S. Home on the Market in the Spring Pays Off: Chart
Bloomberg, June 20, 2016--Torres, Carlos Want to sell your house? Here's why real estate agents advise putting a property on the market in the spring: the median purchase price for U.S. existing homes almost always peaks in June. That's because families with kids looking for bigger digs want to be settled before the start of a new school year.
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Too-Tough Capital Rules May Stifle U.S. Lending: Fed’s Kashkari
Reuters, June 20, 2016--Rucker, Patrick Regulators may hurt the economy and push borrowers toward non-bank lenders if they set too-high capital standards for Wall Street, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said on Monday.
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Real Estate: Why The Common-Sense Mortgage Is Back
OurBroker.com, June 20, 2016--Miller, Peter G. Compared with the old ways of getting a loan today's mortgage marketplace requires different strategies for success. First, we moving toward online mortgage applications but we're not there yet. In many cases we still need paper documents to verify the information inserted into electronic forms. Second, new rules mean new ways of doing business.
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Why a 30-Year Home Mortgage May Leave You House Poor
MarketWatch, June 21, 2016--Van Doorn, Philip Many people in the U.S. assume when buying a home that a 30-year mortgage loan is their only real choice, but you can save a lot of money by going with a 15-year loan if you can afford it.
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Bank of America, Citigroup–and Shareholders–Brace for Stress-Test Results
Wall Street Journal, June 20, 2016--Rexrode, Christina The two banks have lagged behind Wells Fargo and J.P. Morgan on certain metrics, including dividends, share-price gains and valuation.
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We Have Tools to Revive Homeownership–It’s Time to Use Them
National Mortgage News, June 20, 2016--Rodriguez, Marietta The author, with NeighborWorks America, says a few lending products introduced this year are moving in the right direction, offering alternative ways of looking at income, particularly of every adult living in the home, including those not on the mortgage. They have to accelerate to be effective.
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